Panama's Economy Grew at an Average 6.3%

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%.

Friday, March 4, 2011


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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%.

The report informs that in 2010 the transportation, storage and communications sectors continued to grow rapidly. Last year it was 15.5%, thanks to technologies introduced assisting economic activity, trade grew 11.1% due to both domestic and commercial activity with the rest of the world and among others, tourism and restaurant sectors grew 10.9%.

During the period, only fishing remained in recession, due to natural phenomena, natural reproductive cycles, poor administration and controls over industrial fishing (tuna).

More on this topic

Nicaragua Grew by 5.2% in 2012

March 2013

For the second consecutive year, the Nicaraguan economy has grown by more than 5%, maintaining the impetus registrated for 2011, when it grew by 5.4%.

The recent history of Nicaragua's economy is marked by ups and downs, averaging annual growth figures of 4%.

In presenting the macroeconomic statistics for 2012, authorities from the Central Bank of Nicaragua highlighted a record $2.677 billion in exports which is 18.3% greater than that achieved in 2011, an increase in foreign investment, which totaled $1.102 billion , and the contribution of remittances, which totaled $1.114 billion.

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: 7% Economic Growth in 2010

December 2010

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

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."

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%).

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