Machinery Sales: Optimism in Panama

Businessmen dedicated to the commercialization of machines and heavy equipment expect that between the end of 2020 and the beginning of 2021 sales will begin to recover, derived from the mega-projects that will be executed in the country.

Thursday, February 6, 2020

The public infrastructure projects that are close to being developed and that have generated expectations among the sector's businessmen are the construction of the fourth bridge over the Panama Canal and Line 3 of the Panama Metro.

See "Fourth Bridge over the Canal Approved" and "Line 3: Award Confirmed in Panama"

Adolfo Icaza, president of the Association of Machinery Distributors (Adimaq), told Prensa.com that "... the sector's projections are positive, as 2020 is presented as a stable year with growth projections for 2021."

Also see "Which companies supply machinery in Central America"

Icaza recommended the "... Government not to invest directly in the purchase of equipment. The State is not a good administrator, the last government bought a significant number of equipment which generates high maintenance costs because they are not used efficiently."

According to the businessman, the most convenient thing is that the private sector buys this equipment to be used in state projects.

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Vehicle Sales: Optimism in Panama

January 2021

After a 50% year-on-year fall in new car sales in 2020, Panamanian businessmen expect a 25% increase in the number of units sold in the local market by 2021.

The covid-19 outbreak generated a health and economic crisis that severely affected the automotive industry. The most recent report of the Comptroller General of the Republic specifies that between January and November 2019 and the same period of 2020, the number of new vehicles sold in the Panamanian market decreased 54%, going from 44,101 to 20,349.

Machinery: Business Outlook for the Region

March 2020

If the quarantine and mobility restriction measures are extended by two months, it is forecast that by the end of the year the annualized demand for repair and maintenance services of machinery and industrial equipment in Central America will have fallen by 5%.

The "Information System for the Impact Analysis of Covid-19 on Business", prepared by the Trade Intelligence Unit of CentralAmericaData, measures the degree of impact that the crisis will have on companies according to their sector or economic activity, considering different scenarios for the coming months.

Machinery: International Event in Panama

January 2020

From February 5 to 7, the event called "Expo Machine 2020" will take place in the country's capital, where several types of machines, equipment, products and services from the construction, industrial, logistics, maritime, mining and agricultural sectors will be offered.

The event's organizers informed that for this year's edition, 70 exhibitors will participate, including national and international ones, who will exhibit an average of 200 brands.

Economic Recovery May Be Delayed

November 2019

Although Panamanian businessmen recognize that in the first months of the Cortizo administration there have been advances that could improve the performance of the local economy, it is predicted that the reactivation could take longer than expected.

The gradual elimination of price control, the creation of the PPP regulatory framework and greater flexibility in preferential interests in the housing market are the most important advances that the productive sector has recognized to the Cortizo government.

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