Money in Panama
Panama - Money
The economy likely picked up pace in the third quarter, after GDP plunged to an over eight-year low in the second quarter due to prolonged strikes within the construction sector. Nevertheless, economic momentum should have remained much weaker than its long-term average, which was reflected by relatively subdued—though strengthening—readings for the monthly economic activity indicator (IMAE, Índice Mensual de Actividad Económica) over the quarter. On the other hand, data for the Panama Canal shows strong freight activity growth in the period, which particularly ramped up in September. On the political front, President Varela met Chinese President Xi Jinping on 2–3 December—the first diplomatic visit of a Chinese official since the two countries established diplomatic ties in June last year—and signed nineteen wide-ranging cooperation agreements on matters such as banking, infrastructure, trade and tourism, highlighting increasing economic ties between the two countries.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 | 454 | 0.0 % | Dec 12 |
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Economic News
Panama: Economic activity continues to gain steam in September
November 16, 2018
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) accelerated from 3.4% in August to 3.4% in September, its best showing since last April. According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity from January to September came on the back of growth in the sectors of fishing; transportation, warehousing and communications (which includes activity in the Panama Canal); water and electricity supply; and commerce.
Panama: Inflation ticks up in October
November 16, 2018
Consumer prices increased 0.1% month-on-month in October, contrasting September’s flat reading.
Panama: Economic activity picks up markedly in August
October 17, 2018
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) accelerated from 2.0% in July to 3.4% in August, its best showing since last April. According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity from January to August came on the back of growth in the sectors of fishing; transportation, warehousing and communications (which includes activity in the Panama Canal); water and electricity supply; public administration; commerce; and financial intermediation.
Panama: Inflation continues to decrease in September
October 15, 2018
Consumer prices were flat month-on-month in September, following the 0.1% month-on-month increase logged in August.
Panama: Growth continues slowing to near decade-low in Q2, weighed on by construction strikes
September 17, 2018
According to data released by the National Comptroller’s Office (Contraloría General de la República), the economy continued to lose steam in the second quarter of 2018.
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