Panama's Economy Grows Steadily

Despite the uncertainty that exists on an international level, the Panamanian economy continues to grow apace, as indicated by the monthly index of economic activity figures, released by the Controller General of the Republic.

While all sectors, except for fishing, showed positive results across the board, the best performance was seen in the following industries: construction, transport, storage and communications, trade, hotels and restaurants, mining and quarrying, social and personal community services, electricity and water, and manufacturing.

An article in Prensa.com states: "fishing, meanwhile, continued to record negative growth rates due to the reduction in catches of species for export."

Source: Prensa.com

More on this topic

Panama’s Economic Activity Grows 4.9% in January

March 2009

The economic activities that grew the most were port services, construction, tourism and mining and quarrying.

Economist Adolfo Quintero informed Prensa.com: "Economic activity is slowing down compared to January 2008, when it grew 9.83%, but it remains one of the most dynamic in the region. IMAE data project a 5.8% GDP growth for January."

Panama Grows and Grows ....

June 2011

With 9.7% growth in the first quarter of 2011 compared to data recorded in the first quarter of 2010, the thrust of the Panamanian economy is surpassing all expectations.

While the rest of the world was just emerging with difficulty from the global financial and economic crisis in 2010, Panama grew by 7.5%. The projected growth for 2011 is 9%.

Panama's growth rate slows to 7.0%

June 2008

Led by the construction industry, Panama's Leading Economic Indicators showed a growth rate of 7.0 percent for the first quarter of 2008, down from 10.4 percent in the same period of 2007.

The Comptroller General's Office for the Panamanian Government said the sectors of the economy analyzed that showed growth included construction, mining, hotels and restaurantes, transport, warehousing and communications, community activities and real estate, electricity, water and trade.

Panamanian Economy Up 6,1% in First Half of 2010

September 2010

The economy of Panama grew 6,1% between January and June, reaching a GDP of $10,8 billion, $571 million more than the same period of 2009.

The sectors with the highest growth were transportation, storage and communications (+14%), followed by trade (+10,2%) and tourism (+9,6%).