Industry in Panama

Panama Industry | Economic News & Forecasts

Panama - Industry

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 - 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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