Amid bad news,,,,,Panama economy showed strong growth in 4th Quarter.

Economy

https://www.prensa.com/economia/economia-cerro-el-2019-con-3-de-crecimiento/

The Panamanian economy grew 3% at the end of 2019, which meant an increase of $ 1,256.8 million, to end with a gross domestic product (GDP), in absolute terms, of $ 43,061 million.

The indicator was reported the afternoon this Monday, March 2 by the National Institute of Statistics and Census (INEC) of the Comptroller General of the Republic, compared with the same period of 2018 and valued in volume measures chained with reference in 2007.

The behavior of the economy for the fourth quarter of 2019 was 3.3%, higher than the previous three quarters, the latter being the momentum of annual growth.

This growth was mainly due to the mining sector, which registered 45.4%, being the most dynamic in proportion to the other economic sectors, specifically due to the increase in the activity of the extraction of copper concentrate in the second half of the year.

The transport, storage and communications category registered an annual increase of 6.8%, driven by the operations of the Panama Canal, which grew 6.3%, given the increase in tolls and ship services; the port system rose 7.7%, the general cargo 11.4% and the bulk cargo 16.7%.

The construction sector barely contributed 0.1%. Other activities that showed positive growth during the year were: the major and minor trade 2.4%; however, the activity carried out in the Colon Free Zone decreased.

No Comments

Leave a Reply

Your email address will not be published.

Economy
PANAMA economic outlook remains stable before expected administation change.

https://www.laestrella.com.pa/economia/moody-s-mantiene-en-baa3-estable-su-perspectiva-para-el-centro-bancario-de-panama-DN6609324 In his opinion, the solid performance of the banks will offset the sharp drop in economic growth, the political noise prior to the presidential elections, as well as the weakening of consumer and business confidence. Moody’s Ratings maintains its outlook for Panama’s banking system at “Baa3 stable”. In his …

Economy
Grade on “5 Year Plan” to come in JUNE of 2025.

Back in 2020 the UNWTO- or “World Tourism Organization” was tasked to put together a “Master Plan” that would bear the fruit of an increase in sustainable tourism projects of ( 50% ). This even took into account the effect of COVID-19 on the Economy. I am aware that there is REAL …

Economy
Final Qtr- of 2023 reported STRONG growth in the Republic GDP.

https://elsiglo-com-pa.translate.goog/economia/producto-interno-bruto-trimestral-crecio-89/24242734?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc&_x_tr_sch=http Bracho: this growth translates into an increase in the hiring of people and greater income for companies The Quarterly Gross Domestic Product (GDP) grew 8.9% compared to the same period in 2022 during the first nine months of 2023, according to data from the Comptroller General of the Republic. …