Money in Panama
Panama - Money
Growth is expected to have remained largely steady in the first quarter as reflected by the monthly economic activity indicator, supported by the trade and finance sectors. However, traffic in both the Panama Canal and national ports declined in March after registering modest growth in January and February. Moreover, import and re-export activity sharply contracted in the Colón Free Trade Zone throughout the quarter, while April port and Canal data shows shipping activity remained feeble at the start of Q2. On the political front, President-elect Laurentino Cortizo declared on 4 June he would review the terms of the contract of the Cobre Panama project, operated by Canadian miner First Quantum Minerals. This has sown further uncertainty over the mining project, which employs more than 9,000 Panamanians, less than a week after Parliament rejected a bill seeking to ensure the mine’s legal security.Panama - Money Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Money (annual variation in %) | -10.2 | 31.0 | -1.2 | 0.4 | 1.2 |
Panama Money Chart
Source: International Monetary Fund and FocusEconomics calculations.
Panama Facts
| Value | Change | Date | |
|---|---|---|---|
| Stock Market | 438 | 0.0 % | Jun 20 |
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Economic News
Panama: Economic activity falters in March
May 21, 2019
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) grew 3.0% year-on-year in March, significantly weakening from February’s 3.7% print. According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity in March was largely driven by growth in the sectors of transportation, warehousing and communications (which includes activity in the Panama Canal and national ports); water and electricity supply; financial intermediation; and public administration.
Panama: Economic activity slightly accelerates in February
April 22, 2019
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) grew 3.7% year-on-year in February, ticking up from January’s 3.6% print. According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity in February was largely driven by growth in the sectors of transportation, warehousing and communications (which includes activity in the Panama Canal and national ports); water and electricity supply; and hotels and restaurants.
Panama: Consumer prices fall in annual terms for third consecutive month in March
April 15, 2019
Consumer prices rose 0.4% month-on-month in March, up from the 0.1% increase logged in February.
Panama: Opposition PRD candidate likely to take power on pro-business, anti-corruption platform
April 9, 2019
The upcoming Panamanian general elections, scheduled to be held on 5 May, will likely see Laurentino Cortizo of the center-left opposition party PRD (Partido Revolucionario Democrático) win the race for the country’s executive office, ousting the ruling conservative Panameñista Party (PP) of incumbent President Juan Carlos Varela from power.
Panama: Economic activity softens in January
March 20, 2019
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) fell from 3.8% in December to 3.6% in January. According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity in January was largely driven by growth in the sectors of transportation, warehousing and communications (which includes activity in the Panama Canal); water and electricity supply; and hotels and restaurants.
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