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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More on this topic

Construction Down 41%

May 2018

In the first four 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 $755 million to $449 million.

The most recent figures from the Comptroller General of the Republic detail that in the first four months of the year the highest cost of new construction, additions and repairs was registered in the district of Panama, with a total of $290 million. They were followed by Colón, Arraiján, Santiago and La Chorrera, with $41 million, $37 million, $29 million and $25 million, respectively.

Dissapointing Construction Figures

May 2018

In the first three months of 2018, the cost of new construction, additions and repairs in Panama fell by 40% compared to the same period in 2017, going from $542 million to $325 million.

The latest figures from the Comptroller General of the Republic show that in the first quarter of the year the highest cost of new construction, additions and repairs (excluding state works) was registered in the district of Panama, with a total of $207 million. They were followed by Colón, Arraiján, La Chorrera and Santiago, with $40 million, $26 million, $17 million and $15 million, respectively.

Panama: Value of New Constructions Up 11%

December 2017

Between January and October, the cost of new construction, additions and repairs totaled $1.8 billion, 11% more than was reported in the same period in 2016.

The most recent figures from the Comptroller General of the Republic show that the highest value of new constructions, additions and repairs was registered in the province of Panama, with a total of $1.308 billion. They were followed by David, Chitré, Santiago, Aguadulce and La Chorrera, with $246 million.

Construction in Costa Rica: Figures for 1st Quarter 2016

May 2016

Between January and March construction designed for private use grew at an annual rate of 3%, driven by nonresidential projects, which grew by 5.8%, while residential projects rose by 1.2%.

From the report "Construction Designed for Private Use" by the Central Bank of Costa Rica:

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