Panama's Monthly Index of Economic Activity (IMAE) grew by 4.73% year-on-year as of last September, accumulating an expansion of 4.3% in the first nine months of 2025. This growth was driven by sectors such as transportation, finance, and construction, according to data from the National Institute of Statistics and Census (INEC) released this Friday.
In explaining the year-on-year result of the IMAE, which is a production indicator that helps approximate the country's economic growth trajectory, the INEC points out that the transportation, storage, and communications sector was mainly boosted by the Panama Canal, due to increased toll revenue and net tons.
Panama's Gross Domestic Product (GDP) grew by 2.7% in 2024, driven by trade and domestic consumption, although marked by the drag from the abrupt closure of a large copper mine that has slowed its expansion rate.
Financial intermediation continued on a positive path due to an increase in local deposits and credits, while the growth in construction was mainly due to the rise in the value of works, additions, and repairs, which generated a greater demand for inputs that, in turn, boosted the activity of mines and quarries.
Air transport and container traffic through the National Port System also contributed to this expansive dynamic, stated the statistical body of the Panamanian Comptroller General's Office.
The Panamanian government maintains the expectation of a 4% economic growth for this year.
On the other hand, the commercial activity of the Colón Free Zone showed negative variations due to the lower value of goods re-exports; the sale of fuel nationwide; the lower processing of some essential food products, such as meat processing and tomato and dairy derivatives; as well as the lower export of fish and chilled and frozen fish fillets, among others.
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 the Panamanian Comptroller General's Office.
