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Panama 2019 - lowest economic growth in a decade

Allegedly, Panama recorded a 3 percent rise in its Gross Domestic Product (GDP) in 2019, the lowest growth rate since its slowdown began in 2011. A balance of the National Institute of Statistics and Census (INEC) affirmed that such behavior was reversed in the fourth quarter of 2019.

A renewed growth number might come from the transit of ships through the Panama Canal, the movement of containers in the ports and via air transport, including a reactivation of the banana export.

An International Monetary Fund (IMF) report after a visit to Panama in February expressed an optimistic view that 'the economy points to a recovery in 2020 and will continue being among the most dynamic in Latin America.'

Despite the certainty of the growth that specialists predict be 4.8 percent of GDP in 2020, the current epidemic of Covid.19 can stop it because both international trade and the passenger movement suggest that Panama will feel the disease impact on global economy.


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