In the first eight months, economic activity increased by 5.23% over the same period in 2009.
Wednesday, October 27, 2010
Sectors showing best performance were: transportation, storage and communications, commerce, education, mining, hotels and restaurants, social and personal community services, electricity and water, construction and agriculture.
Transportation and communications operations all together, received the dynamism of telecommunications, cargo movement from the National Port System with containers movement, TEU's and air transport. By contrast, rates were negative in transit of ships and net tonnage displaced by deep-water ships, which transited the Panama Canal.
Business recorded positive rates in retail and wholesale, including the Colon Free Zone.
Construction and mining showed growth, explained by public and private investments, other civil engineering jobs, and a greater extraction of metal ores and other minerals.
Hotels and restaurants activity continued to show positive changes, given the increased influx of tourists and hikers who stayed overnight and spent money in hotels and restaurants, primarily in Panama City.
In amusement and recreation activities higher revenue was reported from wagering on gaming rooms, primarily slot machine types, as well as the National Lottery.
In electricity and water growth was observed, supported by increased thermal power generation, consumption of electricity and water, however, a decrease in hydropower generation was noted.
The agricultural sector showed positive change due to further increase in production in some farming activities such as ñame, Otoe, milk production and cattle and poultry breeding, as well as pineapple and bananas crops mainly for export. However, pig breeding decreased and production of nontraditional fruits such as melon and watermelon also suffered.
Manufacturing posted increases in some activities, such as food processing, metal manufacture, printing and publishing and production of chemicals.
By contrast, production of non-metallic products, plastics, paper and textiles showed a slow down.
Due to the crisis generated by the covid-19, in May 2020 the economic activity registered its worst decline by falling 31% in year-on-year terms, however, as of June minor decreases were reported and in September the drop was 22%.
The accumulated Monthly Index of Economic Activity (IMAE) from January to September 2020 registered a 18.3% decrease, compared to the same period in 2019, informed the General Comptroller of the Republic.
After the year-on-year variation of economic activity in Panama fell from 3.7% to 2.9% between February and April, the indicator dropped to 2.4% in May.
Some of the categories of economic activity that showed good performance were: transportation, storage and communications, financial intermediation, public administration and electricity and water, informed the General Comptroller of the Republic.
The most active sectors were: fishing, construction, mining and quarrying, community activities, electricity and water, transport, storage and communications, financial services, agriculture and manufacturing industries.
From information published by the Comptroller General of the Republic of Panama:
The sectors that grew during the first month of the year were fishing, construction, mining and quarrying, and the manufacturing industries.
From the information published by the Comptroller General of the Republic of Panama:
The Monthly Indicator of Economic Activity (MIEA) in the Republic, in January of this year, measured in terms of the original series, grew by 7.04%, compared to the same period in 2012.
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