International Reserves in Panama
Panama - International Reserves
The economy likely remained downbeat in Q3 on lingering domestic Covid-19 restrictions. Activity in the Panama Canal was down in the third quarter, which highlights that weak international trade continued to batter the important transport sector, albeit to a lesser extent when compared to Q2. Moreover, a raft of domestic indicators paint a similar picture: Fuel sales, cement sales and new car registrations were all down markedly in annual terms in Q3—although again to a lesser extent than in Q2—suggesting depressed domestic travel, construction activity and private consumption, respectively. Similarly, merchandise exports were down sharply in July–August. In other news, the government lifted some restrictions on 25 October, including reopening beaches and ending the Sunday quarantine. The move came after international travel resumed on 12 October and gender-based mobility restrictions ended in September, and should further support the recovery in Q4.Panama - International Reserves Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| International Reserves (USD) | 3.4 | 3.8 | 2.7 | 2.1 | 3.4 |
Panama International Reserves Chart
Source: International Monetary Fund and FocusEconomics calculations.
Panama Facts
| Value | Change | Date |
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Economic News
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Panama: Consumer prices slide at a steeper rate on an annual basis in July
January 13, 2021
Consumer prices were down 0.40% from the previous month in July, contrasting June's 0.52% increase.
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Panama: Decline in economic activity softens in October, but remains marked
December 22, 2020
Economic activity slid 17.0% in October (September: -22.3% yoy).
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Panama: GDP declines at a softer rate in Q3
December 15, 2020
According to a preliminary estimate, GDP fell at a milder pace of 23.6% year-on-year in the third quarter, above the 38.2% contraction tallied in the second quarter. Services output fell 18.4% in the third quarter—marking a strong improvement from the second quarter's 29.9% contraction—with the key transportation subsector contracting at a softer pace, likely on improved Panama Canal data as global economic activity recovered.
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Panama: Consumer prices continue to fall in June in annual terms
December 4, 2020
Consumer prices rose a seasonally-adjusted 0.52% in June over the previous month, contrasting May's 0.01% fall.
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Panama: Economic activity remains downbeat in August
November 24, 2020
Economic activity plunged 29.2% year-on-year in August, slightly up from July’s minus 30.9%.
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