Current Account in Panama

Panama Current Account (USD bn) | Economic News & Forecasts

Panama - Current Account (billions of U.S. Dollars)

The economy grew at a solid albeit slightly softer rate in Q1 compared to Q4 2021, according to monthly economic activity data. This was chiefly driven by a tougher base effect and rising energy and food prices, which likely capped private consumption growth. That said, output in Q1 was stimulated by healthy copper exports and a recovery of Panama Canal activity. Turning to Q2, available data indicates that growth should be resilient despite rising global demand constraints. Construction output and new vehicle sales in April increased year on year. Meanwhile, the current high price of copper and the expected rebound in tourist arrivals should be further supporting growth. Furthermore, the dollarized economy as well as the recent price cap on fuel should alleviate the rise in inflation and thus mitigate the hit to households’ purchasing power.

Panama - Current Account (USD bn) Data

2015   2016   2017   2018   2019  
Current Account Balance (USD bn)-4.3  -4.6  -3.7  -5.4  -3.5  

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Panama Current Account (USD bn) Chart

Panama Current Account
Note: Current account balance as % of GDP.
Source: General Controllership of the Republic of Panama and FocusEconomics calculations.

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