Panama Economic Activity April 2018


Panama: Growth in economic activity picks up in April

June 19, 2018

The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) showed an acceleration in year-on-year growth, from March’s almost three-year low of 2.9% to 4.6% in April.

According to the National Comptroller’s Office (Contraloría General de la República), the print was supported by an increase in various components of the index including warehousing and communications; transportation, warehousing and communications, which includes growth in the Panama Canal, ports and the aviation sector; and commerce. In turn, mining and quarrying output and construction activity declined in April.

Meanwhile, average annual growth in economic activity inched down from 4.5% in March to 4.4% in April.

However, on a month-on-month basis, growth in economic activity plummeted from a 2.0% increase in March to 0.2% in April.

FocusEconomics Consensus Forecast panelists see the economy growing 5.4% in 2018, which is unchanged from last month’s forecast. The panel expects GDP to expand 5.7% in 2019.

Author: Jean-Philippe Pourcelot, Economist

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Panama Economic Activity Chart

Panama Economic Activity April 2018

Note: Year-on-year changes and annual average variation of trend-cycle economic activity in %.
Source: National Comptroller’s Office and FocusEconomics calculations.

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