Panama's Monthly Economic Activity Index (IMAE) grew 4.37% year-on-year in November, accumulating an expansion of 4.36% in the first eleven months of 2025, reported the National Institute of Statistics and Census (INEC). The report specifies that although the result is positive, the growth rate is lower than the 7.44% recorded in November 2024, which evidences a moderation in the country's economic expansion. One of the main drivers was the transport, storage, and communications sector, led by the performance of the Panama Canal, which reported increases in toll revenues and in the net tons transported by vessels. This was added to by the good performance of air transport and container movement in ports. Construction and financial services also contributed to the growth of the IMAE, consolidating themselves as pillars of the Panamanian economy in 2025. It should be recalled that the country's Gross Domestic Product (GDP) grew 2.7% in 2024, driven by trade and domestic consumption, although affected by the impact of the closure of a copper mine, which slowed part of the economic dynamism. Despite this scenario, the National Government maintains its projection of 4% economic growth for 2025, supported by the recovery of key sectors and macroeconomic stability.
