In a world of financial chaos, PANAMA showing double digit GDP strength.

Economy

 

The performance of the Panamanian economy, in the second quarter of 2022, measured through the Quarterly Gross Domestic Product (PIBT), presented an increase of 9.8%, compared to the similar period of the previous year.

GDPT registered an amount of $9,925.7 million for the estimated period, which corresponded to an increase of $886.6 million.

Economic activities continue their recovery process after a prolonged period of health restriction measures due to the pandemic.

Of the activities related to the internal economy had a positive performance in this quarter: Transportation and communications, commerce, construction, manufacturing industry, product of a greater slaughter of pigs in 8.6% and poultry in 0.3%, real estate and business, financial services , health, other community and personal; as well as agricultural activities.

On the other hand, the added values ​​​​generated by activities related to the rest of the world that presented increases: the Panama Canal due to the increase in its income from tolls by 2.4%, mainly, transit of Panamax ships by 14.3%, the re-exports of the Colon Free Zone at 20.6% and air transport; as well as pineapple exports at 47.5% and watermelon at 53.8%. Meanwhile, exports of bananas and fish showed decreases. For its part, the income generated by the mining sector was lower than that registered in the same period of the previous year; Likewise, port operations as a result of the lower movement of bulk cargo by 15.9%, and in the agricultural sector, banana exports fell by 55.7% and fish by 17.3%.

In the period from January to June 2022, the Gross Domestic Product reached an accumulated growth of 11.8% compared to the same period in 2021.

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