Construction Still Not Recovered

In the first five months of 2018 the cost of new construction, additions and repairs in Panama fell by 41% compared to the same period in 2017, going from $784 million to $456 million.

Thursday, July 12, 2018

The most recent figures from the Comptroller General of the Republic confirm what has been observed in the Panamanian market since last year: a constant decline in the number and value of new construction projects. 

The latest data shows that from January to May of this year the highest cost of new construction, additions and repairs was recorded in the district of Panama, with a total of $354 million. They were followed by Arraiján, Colón, La Chorrera and Santiago, with $49 million, $48 million, $34 million and $33 million, respectively.  

See "Construction: Upcoming Projects"

Regarding the type of construction, in the first five months of 2018 the highest value was recorded by residential projects, with a total of $315 million, 41% less than was reported in the same period in the previous year. 

For the periods in question, non-residential construction also reported a fall, in this case of 40%, going down from $390 million to $232 million. 

See full report by the Comptroller.

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