Panama

Consumer health sales grew moderately in 2023 as consumers prioritised their spending on essential goods over preventive health. As a result, vitamins and dietary supplements and weight management and wellbeing were the most affected. However, sports…

Retailing rebounded strongly in 2022 in a continuation of the previous year. The reopening of society and the resumption of pre-pandemic lifestyles were enabled by the rollout of vaccines and the waning of the virus, all of which reduced fears of…

The impact of COVID-19 has come to an end and all alcoholic drink is performing well in 2022. However, despite a rebounding on-trade, the off-trade has surpassed 2019 volume sales in many categories while the on-trade has not, as at-home consumption…

Volume sales of cigarettes continued to decline in 2022. Government anti-tobacco initiatives, a decrease in smoking prevalence and growth in illicit trade challenged legal sales. Despite inflation-induced price sensitivity, premium brands remained…

As the pandemic began to wane there was a slowdown in sales of home care products associated with disinfection and cleaning in 2022. Less time spent at home led to lower usage of products such as dishwashing and toilet care. High and rising inflation…

Snacks is set to see healthy growth in retail volume sales in 2023. Despite difficult economic conditions and rising prices, demand for snacks will remain healthy with falling unemployment acting in support. Confectionery is set to benefit from a…

Supply chain challenges and higher global cellulose raw material prices led to higher average retail prices for tissue and hygiene products in 2022. Inflation reduced buying frequency and the elimination of non-essential products. This favoured…

Soft drinks consumption achieved solid growth in 2022. This was based on strong growth of both carbonates and bottled water, which combined account for the lion’s share of market volume sales. Soft drinks is also benefiting from the recovery of…

Beauty and personal care saw healthy growth in 2022 backed by the reopening of the economy and consumers pursuing more active lives outside the home for work, education and social reasons. The high dependence on imports put upward pressure on prices…

Although Panama is a democratic society, corruption is pervasive and government finances are under pressure. Economic momentum has exhibited strength following the initial shock of the Coronavirus (COVID-19) pandemic and dollarization is limiting…

High inflation led to significant unit price rises in dairy products and alternatives during 2023 putting pressure on household incomes. This in turn forced consumers to adopt a more conservative approach to their spending. Manufacturers were also…

Panama’s sales of staple foods are buoyed by extensive urbanisation, the rise of modern grocery retailers and wider product selection. However, in the wake of the COVID-19 pandemic, the resumption of pre-pandemic lifestyles, Russia’s invasion of…

Hot drinks sales achieved steady growth in 2022. While the largest category coffee performed best, growth was not as strong as had been expected. In addition to category maturity, sales were also hampered by significant global price hikes. Economic…

Cooking ingredients and meals slowed in volume terms in 2022 while value sales rose strongly due to rising inflation. Hard-pressed consumers were forced to rein in their spending and focus on products of greater necessity. Prior to the pandemic,…

The number of households is set to increase moderately in Panama over 2022-2027, with couples with children remaining the dominant household type. In 2022 household spending was affected by inflation, which stood at 2.9% elevating living costs. The…

The commodities country overview provides comprehensive data on production, consumption and price trends on key commodities markets. The commodities overview in Panama covers production and consumption trends in agricultural commodities, energy…

Insight into income, wealth and expenditure of consumers and households is vital in helping businesses make strategic decisions with regards to which country (or even which region within a country) to enter, which consumer segment to target, which…

This report assesses the business environment in Panama, focusing on the regulatory environment, stability of the financial system, FDI intake, labour market flexibility and skillset, trade openness, mobility infrastructure, ICT adoption and…

The report examines the economic landscape of Panama and provides information on major monetary indicators, foreign trade, investments and government finance. The economy in Panama grew in real terms in 2022, driven by rising public and private…