Panama maintains its growth, but the real test is whether this dynamism reaches the people through more formal employment, investment, and opportunities, according to the latest Monthly Executive Economic Report for November 2025 from the Association of Executives of Panama (APEDE).
The report reveals that after a complicated August, the economy regained strength in September with a year-on-year growth of 4.73% in the Monthly Index of Economic Activity (IMAE). Tradable services led the recovery, showing the country's strength as a logistics and services hub.
However, sectors such as commerce, manufacturing, agriculture, and the Colón Free Trade Zone continue to lag, making it clear that the recovery is uneven. Overall, GDP in the first half of 2025 grew by 4.4%, meeting international projections.
“Panama maintains growth, but we need decisions that reach the people and build a more prosperous future for all,” concluded De Sanctis. “Our goal is to provide clear information that helps generate more formal employment, investment, and opportunities for all Panamanians,” he stated.
The APEDE report seeks to improve economic debate, foster public-private dialogue, and promote sustainable and inclusive growth. Although there are signs of recovery in construction, logistics, and hospitality, the generation of formal employment remains insufficient.
“Economic growth only makes sense if it translates into well-being for people,” emphasized APEDE President Giulia De Sanctis. This does not mean that companies are leaving, but it highlights the need to reinforce confidence, legal security, and competitiveness to attract and maintain productive capital. The labor market remains the most critical point.
The unemployment rate remains at 9.5%, and informality reaches nearly 50%. However, according to APEDE, this growth still depends too much on external factors, while private investment and the creation of formal jobs are advancing slowly.
One of the most significant challenges is the fall in Foreign Direct Investment (FDI), associated with global caution and financial adjustments.
