Unemployment in Panama

Panama Unemployment | Economic News & Forecasts

Panama - Unemployment

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 - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate5.1  5.5  6.1  6.0  7.1  

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Panama Unemployment Chart


Panama Unemployment
Note: Unemployment in % of active population.
Source: General Controllership of the Republic of Panama.

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