Panama: 7% Economic Growth in 2010

Government officials estimate that the Panamanian economy closed 2010 with over 7% growth.

Thursday, December 16, 2010

At a press conference by the Minister of Economy, Alberto Vallarino, the minister stated, "We have achieved a cumulative growth of seven percent which was our revised projection and if the trend of acceleration of the economy we've seen in the last four quarters continues (...) we can expect a higher growth for this fiscal year when final numbers are known in March."

Estimates by the International Monetary Fund (IMF) on the growth of the Panamanian economy were 6% for 2010 and 6.5% between 2011 and 2013.

More on this topic

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%).

Panama estimates that economy will grow 7.5% in 2009

November 2008

The Panamanian economy is likely to increase its growth slightly next year due to the international financial crisis, lower exports to the US and a slowdown in the real estate industry.

The Panama economy will grow 7.5% in 2009 down form the 9.5% estimated for this year, the minister of Economy and Finance, Hector Alexander said to Reuters.

Panama's Economy Grew at an Average 6.3%

March 2011

Over the past 14 years, taking into account the 7.5% growth of 2010, the economy has grown at an average rate of 6.3%.

In the past five years the growth rate has been 8.3%, according to a report by the Ministry of Economy and Finance. In 2009 Panama's economy grew 3.2% while growth in 2010 doubled to 7.5%.

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%.

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