Money in Panama
Panama - MoneyThe 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 - Money Data
|Money (annual variation in %)||-1.2||0.4||1.2||4.5||-9.4|
5 years of economic forecasts for more than 30 economic indicators.
Panama Money Chart
Source: International Monetary Fund and FocusEconomics calculations.
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July 22, 2022
Economic activity grew 26.3% compared to the same month of the previous year in May, soaring from April's 6.2% increase.
June 20, 2022
Economic activity increased 6.2% year on year in April (March: +12.6% yoy).
June 15, 2022
Consumer prices increased 0.76% over the previous month in May, picking up from the 0.58% rise seen in April.
June 7, 2022
According to a preliminary reading, GDP growth slowed markedly to 13.6% year on year in the first quarter, from 16.3% in the fourth quarter of last year.
May 19, 2022
Economic activity increased 12.6% in year-on-year terms in March, which represents a slight slowdown from February's 13.3% increase.