Industry in Panama

Panama Industry | Economic News & Forecasts

Panama - Industry

The economy grew rapidly but lost steam in Q4, largely due to a waning base effect and cooling growth in the services and industrial sectors. Turning to Q1, economic activity continued to grow at a solid, albeit softer rate in January–February. Both construction activity and new vehicles sales decelerated in the first two months of 2022, while rising energy and food prices likely capped private consumption growth. More positively, Panama Canal activity reflected a recovery to pre-pandemic levels at the outset of this year, while manufacturing activity was healthy. Turning to Q2, in late April, Turkey and Panama signed an agreement to further trade and tourism, boding well for the business environment. In addition, the country’s early May regularization of crypto assets could increase financial flows, although it may worsen Panama's reputation regarding financial transparency.

Panama - Industry Data

2015   2016   2017   2018   2019  
Industrial Production (annual variation in %)10.8  6.9  7.0  2.8  3.4  

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Panama Industry Chart

Panama Industry
Note: Annual variation of industrial production in %.
Source: General Controllership of the Republic of Panama and FocusEconomics calculations.

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