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Panama City, Panama
Panama City, Panama
Panama City, Panama

Panama Expat Forum

Panama's Economy

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panamajames
1/25/2018 10:45 EST

Is there a slowdown in Panama? Is this a buyers market? Although growth of the economy in general still remains above 5%, it is lower than the vigorous 10% of a few years ago. Is the cause the Martinelli on full tilt economy vs Varela in slowdown mode? New elections next year.
Varela may be hoping on the Free Trade Agreement with China to help the situation. Based on current unemployment and the growth of independent or informal work from entrepreneurs, both Expat and Locals, we see that starting in 2018, Panama has entered a phase of economic slowdown. Businessmen in the commerce sector are even talking about "recession", both in retail and in wholesale sales.

From a statement issued by the Chamber of Commerce, Industries and Agriculture of Panama:

Although we expect growth of the Panamanian economy of approximately 5.4% for this year 2018, such increase continues to be supported by economic sectors linked to foreign trade, such as the Panama Canal, ports and airports.

As a representative organization of the country's private entrepreneurial effort, the Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) reiterates its concern about the problems that hamper the progress of sectors long marginalized by policies that discourage their permanence and certainly threaten their productive continuity, such as the industrial and agricultural sectors. The same is true for other slowdowns such as trade, tourism, construction and real estate, which also require new perspectives in the future.

volcan357
6/12/2018 14:03 EST

Once you become fluent in Spanish you can become part of the Panamanian community instead of the expat community if you wish. Or if you have a hobby like gardening for example you can participate in the gardening forum and talk about gardening instead of politics.

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William Russell's private medical insurance will cover you and your family wherever you may be. Whether you need primary care or complex surgery, you'll have access to the best hospitals & doctors available. Unlike some insurers, we also include medical evacuation and mental health cover in our plans (except SilverLite). Get a quote from our partner, William Russell.

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Panama2017
6/11/2018 21:02 EST

catpurrs, got it. You can't imagine how many times I hit delete on this forum.

catpurrs123
6/11/2018 20:08 EST

Panama2017 My message was in response to reading all the back and forth that was going on about the US government etc. You are right, it has NOTHING to do with Panamas economy. Simply stating that I didnt realize that the banter here was just more of the same that is going on in the US.It has nothing to do with all things Panama. As stated, I guess all I have to do is delete. As a newbee, ive learned a lesson.

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Panama City, Panama

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Get a quote for international health insurance from our partner, William Russell.
GET A QUOTE

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Get a quote for international health insurance from our partner, William Russell.
GET A QUOTE

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Learn what members have to say about living in Panama.

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Talk with other digital nomads and expats in Panama on our Panama forum - meet people, get advice and help others.

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Contribute to Panama Network Contribute
Help others in Panama by answering questions about the challenges and adventures of living in Panama.

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