Industry in Panama
Panama - IndustryThe economy ended the second quarter on a stronger note, with the economic activity indicator gaining traction in June from May’s weak performance. The pick-up was underpinned by stronger growth in the trade-related transport, storage and communications sector, which includes activity in the Panama Canal and national ports—and constitutes almost 15% of the economy. Freight data for the Panama Canal indicates a decent start to the third quarter, with toll revenue growth picking up in July and the volume of cargo passage rising robustly in the same month. In other news, in August the Panama Canal Authority presented the FY 2020 budget for the Panama Canal. It projects only a slight increase in revenue from cargo transit in FY 2020 over the prior year, due to ongoing trade tensions between the U.S. and China, and envisages higher infrastructure and maintenance spending to strengthen efficiency and dock capacity.
Panama - Industry Data
|Industrial Production (annual variation in %)||16.8||10.7||10.8||6.9||6.5|
5 years of economic forecasts for more than 30 economic indicators.
Panama Industry Chart
Source: General Controllership of the Republic of Panama and FocusEconomics calculations.
|Stock Market||451||0.0 %||Sep 04|
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September 13, 2019
Consumer prices dropped 0.3% over the prior month in August, contrasting the 0.2% increase registered in July.
August 21, 2019
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) grew 2.9% over the same month a year prior in June, accelerating from the 2.4% expansion registered in May. Increased economic activity in June was driven by stronger growth in the transport, storage and communications sector—which includes activity in the Panama Canal and national ports.
August 14, 2019
Consumer prices rose 0.2% over the previous month in July, contrasting the 0.3% decline registered in June.
July 22, 2019
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) grew 2.4% in annual terms in May, down from the 2.9% expansion logged in April and marking the worst performance since July 2018. Slower economic activity in May was primarily the result of weaker growth in the construction; mining and quarrying; real estate; trade; and hotels and restaurants sectors.
July 15, 2019
Consumer prices fell 0.3% over the prior month in June, contrasting the 0.1% increase recorded in May.