dex contracted considerably, due to the effects of the Covid-19
health emergency. Among the economic sectors that were affected were: Hotels and restaurants, other community, social and personal service activities, construction, commerce, financial intermediation, manufacturing industries, electricity and water, real estate, business and rental activities, and transportation, storage and communications, among others, according to the Comptroller General's Office of the Republic.
According to official estimates, some activities particularly registered positive results, such as: the export of copper ore and its derivatives, fish and fish fillet (fresh, refrigerated and frozen), renewable electricity generation, Canal tolls, telecommunications, container movement of the National Port System TEU, production of milk and its derivatives, as well as private health services.
According to a CentralAmericaData
analysis, in this context of health crisis, Panama is the economy that at regional level shows the most damage
, since in May 2020 the fall in economic activity exceeded 31%, and although in the following months production recovered dynamism, at the beginning of 2021 production is still depressed.
Check out the "System for monitoring markets and the economic situation in Central American countries
", prepared by CentralAmericaData
Economic Activity: Historic Decline in Panama
During April 2020 the Monthly Index of Economic Activity in the country reported a 35% year-on-year variation, a fall that is explained by the restrictions imposed following the outbreak of covid-19.
The most affected activities were: Construction, Hotels and Restaurants, Commerce, Manufacturing Industry, Other community, social and personal service activities, among others. And to a lesser extent the sectors of Fishing, Real Estate, Business and Rental Activities, Supply of Electricity, Gas and Water, Financial Intermediation, reported the General Comptroller of the Republic.