Panama GDP

Panama

Panama: GDP growth slows pace in Q2 2015

September 16, 2015

The Panamanian economy expanded 5.8% in Q2 over the same quarter of the previous year. The result came in slightly below the 6.1% growth registered in Q1. The moderation shows that slowdowns in activity related to the Panama Canal expansion project, and decelerations in other sectors of the economy, eased the pace of growth in Panama. The canal project is more than 90% complete and moving into a testing phase. The upgraded canal is scheduled to be open to traffic by April 2016.

The expansion in Q2 was driven by growth particularly in the industrial sector, which expanded 6.3% (Q1 2015: +10.8% year-on-year) and was driven by gains in activity related to electrical, gas and water production. Panama’s important services sector expanded 4.8% (Q1 2015: +6.9% yoy) on the back of strong gains in financial services as well as in health and social services. In contrast, the agricultural sector witnessed a contraction of 1.1%, marking a deterioration over Q1’s 0.4% decline.

FocusEconomics Consensus Forecast panelists project that the economy will grow 6.1% in 2015, which is unchanged from last month’s forecast. For 2016, the panel expects GDP to expand 6.4%.


Author:, Economist

Sample Report

Looking for forecasts related to GDP in Panama? Download a sample report now.

Download

Panama GDP Chart


Panama GDP Q215

Note: Year-on-year changes of GDP in %.
Source: National Comptroller’s Office and FocusEconomics Consensus Forecast


Panama Economic News

  • Panama: Economic activity continues to gain steam in September

    November 16, 2018

    The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) accelerated from 3.4% in August to 3.4% in September, its best showing since last April. According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity from January to September came on the back of growth in the sectors of fishing; transportation, warehousing and communications (which includes activity in the Panama Canal); water and electricity supply; and commerce.

    Read more

  • Panama: Inflation ticks up in October

    November 16, 2018

    Consumer prices increased 0.1% month-on-month in October, contrasting September’s flat reading.

    Read more

  • Panama: Economic activity picks up markedly in August

    October 17, 2018

    The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) accelerated from 2.0% in July to 3.4% in August, its best showing since last April. According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity from January to August came on the back of growth in the sectors of fishing; transportation, warehousing and communications (which includes activity in the Panama Canal); water and electricity supply; public administration; commerce; and financial intermediation.

    Read more

  • Panama: Inflation continues to decrease in September

    October 15, 2018

    Consumer prices were flat month-on-month in September, following the 0.1% month-on-month increase logged in August.

    Read more

  • Panama: Growth continues slowing to near decade-low in Q2, weighed on by construction strikes

    September 17, 2018

    According to data released by the National Comptroller’s Office (Contraloría General de la República), the economy continued to lose steam in the second quarter of 2018.

    Read more

More news

Search form