Panama: Economic activity gains steam in March
Latest reading: Economic activity rose 4.2% on a year-on-year basis in March, following a 4.1% rise in the previous month.
Commercial activity was the lead driver, underpinned by strong performance across retail and wholesale segments, with Colón Free Trade Zone reexports, new car sales, and fuel and consumer goods imports all contributing positively. The transport sector remained a solid contributor, with Panama Canal toll revenues and net tonnage still expanding alongside air transport. On the downside, construction activity weakened as building permit valuations and public civil works investment both declined.
In month-on-month terms, economic activity increased 2.6% in March, following a 0.4% decline in the previous month.