Imports to Panama fell 6.6 percent year-on-year to PAB 1017.3 million in March 2019, mainly due to lower purchases of consumption goods (-11.4 percent), namely non-durable (-10.6 percent), semi-durable (-10.8 percent) and fuels & lubricants (-14.7 percent). Also, imports of intermediate goods dropped (-16.3 percent), of which raw materials and intermediate products for industry (-22.8 percent) and construction materials (-34.1 percent). Meanwhile, purchases increased for capital goods (11.3 percent), boosted by transport & communications (55.8 percent) and other capital goods (9.2 percent). Imports in Panama averaged 779176.98 PAB Thousand from 2003 until 2019, reaching an all time high of 1349156.80 PAB Thousand in October of 2014 and a record low of 226561 PAB Thousand in February of 2003.
Imports in Panama is expected to be 1040000.00 PAB Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Panama to stand at 1075000.00 in 12 months time. In the long-term, the Panama Imports is projected to trend around 1100000.00 PAB Thousand in 2020, according to our econometric models.