Panama City, Oct 28 (EFE). - Panama's Monthly Index of Economic Activity (IMAE) accumulated a 4.24% increase in the first eight months of 2025, with a 1.61% year-on-year growth in August driven by sectors such as transport, finance, and tourism, according to data from the National Institute of Statistics and Census (INEC). August's expansion of 1.61% shows a clear slowdown in the economy compared to the 2.83% reported in the same month of 2024, according to data released by INEC this Tuesday. The IMAE, which is a production indicator that helps approximate the country's economic growth path, was driven year-on-year by the sectors of transport, storage, and communications; financial intermediation; hotels and restaurants; and community, social, and personal service activities. In explaining the indicator's year-on-year result, the statistical body points out that the transport, storage, and communications sector, as a whole, maintained a growth path, mainly driven by the dynamism of the Panama Canal, reflected in the increase in toll revenue and the growth in net tons. The GDP expanded by 4.4% in the first half of 2025, compared to the same period in 2024, driven by the interoceanic canal, according to statistics from Panama's General Comptroller's Office. Although air transport and container traffic in the national port system also contributed. Financial intermediation maintained positive results due to an increase in deposits and credits at the local level and due to insurance activity. On the other hand, among the economic activities that showed negative variations are manufacturing; agriculture, fishing, construction, and commerce. Panama's Gross Domestic Product (GDP) grew by 2.9% in 2024 driven by trade and domestic consumption, although marked by the drag of the abrupt closure of a large copper mine that has slowed its expansion rate. The Panamanian government maintains the expectation of an economic growth of 4% for this year.
