The earthquake, which was initially measured at 6.4 magnitude by the US Geological Survey (USGS), struck 44km west of the city of David in Panama at a shallow depth of 14.2 km.
Some social media users reported feeling a strong shake but there were no immediate reports of damage or casualties.
Northern Panama is relatively sparsely populated and frequently hit by earthquakes. Last month, a 6.1-magnitude quake with an epicentre near David damaged some property and injured at least two people.
In 2003, a magnitude-6.7 earthquake in the region damaged or destroyed hundreds of homes and killed two people. The most significant recent earthquake came in 1991, when a magnitude-7.4 quake killed 23 people and injured 500, as well as causing hundreds of casualties in neighbouring Costa Rica.
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