In Panama up to November 2013 economic activity grew by 7.7% compared to the period up to the same month in 2012.
Between January and November 2013, the country's economy grew by 7.7 % compared to the same period of 2012. The best performing sectors were mining and quarrying, construction, fisheries, transport, and manufacturing among others.
From information published by the Comptroller General of the Republic of Panama :
The contract may be modified to increase line capacity in order to meet growing energy demand.
The third transmission line was awarded to Odebrecht for $238 million and should start this year, but the contract is under review. The Comptroller General's Office is considering increasing the generation capacity of the line using the same materials as originally contemplated for its construction, although it is not known if this would involve higher costs.
The Consumer Price Index (CPI) in November showed an increase of 0.1% from October 2013.
From a Report by the National Institute of Statistics and Census:
Comments on the Consumer Price Index in August 2013 National Urban Category:
The Consumer Price Index (CPI) in November, compared to October 2013, showed an increase of 0.1% in both the National Urban category and for the districts of Panama and San Miguelito, while for the Other Urban Areas it recorded a decrease of 0.1%. Compared with November 2012, an increase of 3.8% for the National Urban districts of Panama and San Miguelito and Other Urban was observed. So far this year, the National Urban CPI showed a cumulative increase of 3.5%.
The evolution of the Panamanian economy brings changes in consumption patterns which favor imported wine and premium liquors.
Figures from the Comptroller General of the Republic up until August reveal that local production of alcoholic beverages stood at 176.8 million liters, 2.2 % less than the 180.2 million reported in the same period in 2012. This decrease was driven by the 10.2% decline reported in rum production which went from 5.3 million liters to 4.7 million.
The Consumer Price Index (CPI) in October compared to September 2013 showed an increase of 0.1 %.
From a report by the National Institute of Statistics and Census:
Comments on the Consumer Price Index National Urban in October 2013:
The Consumer Price Index (CPI) in October, compared to September 2013, showed an increase of 0.1 % in national urban and 0.2 % for the districts of Panama and San Miguelito, while for Other Urban Areas there was a decrease of 0.1%. Compared to October 2012, there was an increase of 3.9 % for National Urban, and for the districts of Panama and San Miguelito and the Other Urban Areas. So far this year, National Urban CPI shows a cumulative variation of 3.4 %.
The Agricultural Bank of Peru is going to open a special credit line for the purchase of live cattle in Panama to supply the Peruvian domestic market.
The Comptroller General of the Republic revealed that up until August the value of exported cattle was $1.3 million, 37.6% less compared to the $2.1 million reported in the same period in 2012.
But this could be improved if Peru's plans to purchase cattle, taking advantage of existing FTA between the two countries, become firm, Negotiations are currently underway between the "Vice Ministry of Foreign Trade and the Embassy of Peru in Panama to establish financial facilities that will enable Peruvian livestock farmers to acquire cattle with high genetic quality from Panama to improve their herds and meet the demand for beef in their country " reported Capital.com.pa.
Despite the promise of a cheaper and more efficient option LPG sales have fallen by 59% since 2009.
The Comptroller General of the Republic revealed that in 2013 245,000 gallons of liquefied petroleum gas (LPG ) have been sold, while in 2009, 599,000 were sold, in other words sales of the product fell by 59%.
"From 2009 to 2010 the decrease was 18.2 %, in 2011 the fall was 14.1 %, 21.1% in 2012 and finally in 2013 it reached a record percentage decline of 26.1 %, reported Laestrella.com.pa.
In the first eight months of 2013 36,189 vehicles were sold, 4,848 more than in the same period of 2012.
The data was supplied by the Comptroller General of the Republic.
Laestrella.com.pa reports that "the best sellers were in the category of sedans, coupes and trucks with a total of 16,473 units sold (22% more than in 2012). They are followed by SUV's with 10,762 units (up 12%) and pick-ups with 4,769 units sold in August (16%) ".
Price Indexes of Major Retail Construction Materials in the districts of Panama and San Miguelito, up to September, 2013.
A statement from the Comptroller General of the Republic of Panama:
The Price Index of Major Retail Construction Materials (PIMC), available in the districts of Panama and San Miguelito, compiled as of September 2013, showed the following behaviors:
The Consumer Price Index (CPI) in September compared to August of 2013 showed an increase of 0.1 % .
From a report released by the National Institute of Statistics and Census:
Comments on the Consumer Price Index September 2013 National Urban:
The Consumer Price Index (CPI) in September 2013 , compared to the previous month, registered an increase of 0.1 % , both in the National Urban are, and for the districts of Panama and San Miguelito, while for the rest Urban areas, it was 0.2 %. Compared to September 2012, there was an increase of 3.9 % for the National Urban area and for the districts of Panama and San Miguelito 3.8 %, and 4.3 % in the Other Urban. So far this year, the National Urban CPI reflects a cumulative variation of 3.3%.
The addendum to the contract with Consorcio Línea Uno for the extension of the railway system from Los Andes to San Isidro, has been officially signed.
This was announced by Minister for Canal Affairs and Executive Secretary of the Panama Metro, Roberto Roy. The official explained that the cost of the extension will not be revealed until they have completed the verification process with the General Comptroller of the Republic.
Price Indexes of Major Retail Construction Materials in the districts of Panama and San Miguelito, up to July 2013.
A statement from the Comptroller General of the Republic of Panama reads:
The Price Index of Major Retail Building Materials (IPMC), available in the districts of Panama and San Miguelito, compiled up to July 2013, showed the following behaviors:
Researchers at the University of Panama have managed to create a new breed of cattle for milk and meat production, which is adapted to tropical conditions.
Prensa.com reports: "From Germany embryos were imported of the Simmental dairy breed. Animals that were born from these embryos were crossed with the Brazilian Gyr dairy breed characterized by their tolerance to climatic conditions in the tropics. "
The Consumer Price Index (CPI) in August compared to July, 2013, showed an increase of 0.3%.
From a Report by the National Institute of Statistics and Census:
Comments on the Consumer Price Index in August 2013 National Urban Category:
The Consumer Price Index (CPI) in August compared with July 2013, increased by 0.3% in National Urban, for the districts of Panama and San Miguelito it was 0.2% and for Other Urban Areas 0.4%.
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.
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.