Panama's economy strengthens. Financial activities reflected credit expansion, higher deposits, and more commission income in the International Banking Center. According to the National Institute of Statistics and Census (INEC), the real GDP grew 4.2% between January and September 2025, consolidating the economic recovery that began last year when the increase was 2.0%. The Ministry of Economy and Finance states that this result was achieved despite a complicated international context, with trade tensions and geopolitical conflicts, and labor stoppages in some sectors during the second quarter. Even so, the economy showed resilience and capacity for adaptation, maintaining sustained growth. By sector, the main driver was transport, storage, and mail, with an accumulated growth of 15.3%, followed by hotels and restaurants (5.9%), financial and insurance activities (5.5%), and the real estate and professional services sector (4.6%). The Panama Canal played a key role, contributing 45.1% of the total GDP increase thanks to its full-capacity operation and the dynamism of international trade. Tourism also boosted the economy: hotels and restaurants saw an increase in visitors and tourist spending. Banana production fell -0.9%, but other crops such as rice, corn, pineapple, and watermelon showed growth. Overall, the results confirm that Panama continues to advance towards a solid recovery, with key sectors strengthened and positive prospects for creating well-remunerated jobs and further boosting the economy.
