Panamanian Economy Falls 6%

During March 2021, the Monthly Index of Economic Activity registered a -6% year-on-year variation, a decrease that is attributed to the effects of the sanitary emergency caused by Covid-19.

Friday, May 28, 2021

According to the most recent report of the General Comptroller's Office of the Republic, the Monthly Index of Economic Activity (IMAE) accumulated from January-March 2021 showed a decrease of 10.06%, compared to the same period of 2020.

Check out the "System for monitoring markets and economic situation in the countries of Central America", prepared by CentralAmericaData.

The official analysis highlights that "... regarding the behavior of this index, in the first quarter, it continues to maintain a contraction, due to the effects of the sanitary emergency caused by COVID-19 on the economy. However, some of the economic categories that presented a good performance were: Mining, Fishing, Private Health Services and Public Administration."

The rest of the sectors maintained a negative incidence such as: Hotels and restaurants, Other community, social and personal service activities, Manufacturing industries, Financial intermediation, Construction, Commerce, Electricity and water, Transportation, storage and communications, Real estate, business and rental activities, among others, details the report.

Mining maintained a favorable performance, due to the export of copper ore and its concentrates. Fishing activity reported positive results, due to the higher catch of some export-oriented species, such as fish and fish fillet (fresh, refrigerated and frozen), shrimp and other seafood products, the document adds.

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