Construction Falls 9% in Panama

The value of construction projects, additions and repairs reported between January and May 2016 fell by 9% compared to the same period in 2015.

Friday, July 22, 2016

n dir="ltr">The district of San Miguelito was the area that recorded the greatest reduction in the value of construction in the first five months of the year, falling by 80% compared to the same period in 2015. At the other extreme is Colon, where there was an increase of 143%, followed by David, Santiago, Chitre, Aguadulce and La Chorrera.

You may be interested in: "Construction Projects in Panama - April 2016" and "Construction Delayed Due to Municipal Bureaucracy in Panama"

In the period in question the value of residential construction grew in total by less than 1% compared to the same period in 2015, according to figures from the Office of the Comptroller General of Colombia. Projects classified as non-residential fell by 17%, mainly explained by the 28% reduction in the value of buildings reported in the province of Panama.

See statistics compiled by the Comptroller General. (In Spanish)

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More on this topic

Panama: Value of New Constructions Falls 5%

January 2017

Following the trend seen in recent months, the value of construction, additions and repairs carried out up to November 2016 fell by 5% compared to the same month in 2015.

The main reduction in value was recorded in San Miguelito, with a variation of -28%, followed by Arraiján, where the value fell by 21%. 

Panama: Value of New Constructions Still Dropping

November 2016

The total value of constructions, additions and repairs reported between January and September 2016 fell by 12% compared to the amount recorded in the same period in 2015.

Figures from the Office of the Comptroller General of Colombia show that September was the month which recorded the highest value with $225 million, followed by January with $224 million. The lowest value was recorded for new constructions, additions and repairs, was in July with $104 million.

Panama: Construction Falls 15%

October 2016

The value of buildings, additions and repairs reported between January and August 2016 fell by 15% compared to the same period in 2015.

Figures from the Office of the Comptroller General of Colombia revealed that July was the month that recorded the lowest value, with $104 million, followed by May with $111 million. During August the value recorded for new constructions, additions and repairs was $185 million.

Construction in Panama: Figures for 1st Quarter 2016

May 2016

The value of construction in the first quarter fell by 10% compared to the same period in 2015, registering an increase of 13% in the value of residential construction and a drop of 26% in the non-residential category.

The 13% increase in the value of the buildings, residential additions and repairs registered between January and March was not enough to offset the decline of 26% in the value of non-residential construction.

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