According to the most recent report of the General Comptroller's Office of the Republic, the Monthly Index of Economic Activity
(IMAE) accumulated from January-March 2021 showed a decrease of 10.06%, compared to the same period of 2020.
Check out the "System for monitoring markets and economic situation in the countries of Central America
", prepared by CentralAmericaData
The official analysis highlights that "... regarding the behavior of this index, in the first quarter, it continues to maintain a contraction, due to the effects of the sanitary emergency caused by COVID-19 on the economy. However, some of the economic categories that presented a good performance were: Mining, Fishing, Private Health Services and Public Administration.
The rest of the sectors maintained a negative incidence such as: Hotels and restaurants, Other community, social and personal service activities, Manufacturing industries, Financial intermediation, Construction, Commerce, Electricity and water, Transportation, storage and communications, Real estate, business and rental activities, among others, details the report
Mining maintained a favorable performance, due to the export of copper ore and its concentrates. Fishing activity reported positive results, due to the higher catch of some export-oriented species, such as fish and fish fillet (fresh, refrigerated and frozen), shrimp and other seafood products, the document adds.
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Panama: Economic Activity Still Down
In January of this year, the Monthly Index of Economic Activity reported a 15% year-on-year drop, which is similar to the behavior recorded from March to December 2020, a period in which the pandemic severely affected productive activities.
This index 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.