OBJECTIVES: Annual trivalent influenza vaccines (TIV) containing three influenza strains (A/H1N1, A/H3N2, and one B) have been recommended in Panama since 2006. However, worldwide co-circulation of two distinct B lineages (Victoria and Yamagata) and difficulties in predicting which lineage will predominate in the next season have led to the development of quadrivalent influenza vaccines (QIV) including both B lineages. Our analysis evaluates the public health and economic benefits of using QIV versus TIV in Panama from 2006 to 2013. METHODS: A static model published by Reed et al. in 2012 was adapted to Panama and stratified by age group. In addition, B-lineage cross-protection was included based on published sources. We calculated the hypothetical impact of QIV compared with TIV over seven influenza seasons (2009 pandemic year excluded) using virologic circulation, vaccine coverage, vaccine effectiveness and attack rate. In absence of B-lineage distribution in Panama, Brazilian data were considered.  For influenza-related outcomes (outpatient visits, hospitalisations, deaths), two sets of inputs were used. Influenza-related costs were estimated from societal perspective in Panamanian balboas (1 per US dollar). RESULTS: Over the 2006-2013 period, QIV would have prevented 7,519 influenza B cases compared with TIV, averting between 2,756 and 5,564 outpatients visits, between 28 and 2,202 hospitalisations and between 6 and 930 deaths. This translates into influenza-related avoided costs of between 137 and 3,599 thousand balboas. In 2012, year with high B circulation and mismatch, QIV would have avoided 5,256 cases, 3,889 outpatient visits, 1,539 hospitalisations, 650 deaths and 2.5 million balboas of influenza-related costs in the upper bound. CONCLUSIONS: The wider protection offered by QIV would reduce the number of influenza infections and its related complications, leading to influenza-related costs avoided. Herd effect was not taken into account, underestimating the benefits of QIV vaccination. More robust local data are needed to better assess benefits of QIV.