Panama's GDP Grew 7.3% YoY

During the first six months of 2013, the gross domestic product totaled $13.488 billion reflecting an increase of 7.3% compared with the same period in 2012.

Tuesday, September 17, 2013

In addition, real GDP grew by 7.6% in the second quarter of 2013. This was revealed in a report by the Comptroller General of the Republic which explains that mining and quarrying grew by 27.8%, while construction rose by 26.2%, both activities driven by the development of public and private works in the country.

Data from the Panamanian Chamber of Construction indicates that in 2012 alone $5.5 billion was invested in construction projects.

"... Financial intermediation grew by 10.3% in the first half of the year, while transport, storage and telecommunications improved by 7.2%. A worse fate befell the wholesale and retail industry, which recorded a negative annual variation of 0.4%. The indicator reflects the difficulties faced by the Colon Free Zone, commercial movement fell by 10% in the first five months of the year ", reported Prensa.com.

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