Economy & Business - May 2026

PANAMA | Banana sector recovery. On 5 May Panama’s trade and industry minister, Julio Moltó, hailed the “significant recovery” of the banana sector in the banana-producing province Bocas del Toro following a major strike by banana workers which began in April 2025 amid more general protests over new reforms to the social security system, among other things. On 5 May Moltó reported that 5,065 formal jobs in the banana sector had been recovered since the resumption of production in December 2025-January 2026 and approximately 5,000 hectares of farmland reactivated. The banana workers’ strike, which lasted until 11 June, when a deal was reached between the various sides, completely paralysed productive activity in Bocas del Toro, and led Chiquita Panamá, the local subsidiary of multinational banana company Chiquita Brands International, to halt operations and lay off workers. Moltó highlighted the impact on the country’s crucial banana sector – hitherto its leading export – noting bananas accounted for just 7.5% of Panama’s exports in December last year, down from 12% in May and 17.5% in March.

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