For the period from January to December 2017, Panama’s economy grew by 5.2%, compared to the 2016 period according to the Monthly Index of Economic Activity (IMAE) of Panama. The report published by the Comptroller General of the Republic highlights the economic activity that grew more as transport, construction, mining, and quarrying, among others.
The growth in the Panamanian economy during 2018 will allow the country to remain one of the first in the Latin American ranking. According to World Bank reports, during the last decade, Panama has been one of the fastest growing economies in the world.
It is expected that Panama’s Gross Domestic Product (GDP) will grow by 5.6% in 2018, becoming one of the highest rates in Latin America.
With the construction of the second Metro line and the traffic generated by the expansion of the Canal, public investments will remain high. In addition, private investment should remain strong.
The Economic Commission for Latin America and the Caribbean estimates that the country will grow 5.5%; while 2017 will close with 5.3% when they projected 5.6%.
According to the international organization, various sectors of the economy show strong dynamism.