Panama: Imports grow by 20%

In the first three months of the year 20.1% more goods and services were imported compared to the same period in 2010.

Wednesday, June 1, 2011

The economic boom that Panama is experiencing is also reflected in the purchases of goods and services abroad, which have grown at a faster pace than the economy is growing.

Of the total imports, capital goods for use in construction, transportation and telecommunications account for the majority.

A Prensa.com article notes: "Raul Moreira, president of the College of Economists, reiterates that imports have a close relationship with the country's growth, and companies are producing more. "To produce a lot you have to consume a lot. It's good because it generates economic movement and employment, and boosts the economy."



More on this topic

Import of Capital Goods in Nicaragua Up 26%

January 2013

Meanwhile the purchase of consumer goods grew by only 9%, which is attributed to the higher added value in domestic production.

Laprensa.com.ni reports that "Nicaragua’s imports have grown at a slower pace than its exports, which helps to stem the growth of the trade deficit.

Panamanian Imports Grow by 22%

May 2012

In January 2012 the value of imports brought in Panamanian ports, excluding companies operating from the CFZ, reached $944.5 million, $171.1 million more than in the same period last year.

From a press release from the Ministry of Economy and Finance of Panama:

The value of imports for the month of January 2012, placed in Panamanian ports, excluding companies that operate from the Colon Free Zone, reached B/.944.5 million ($ 944.5 million), which is B /. 171.1 million ($ 171.1 million) or 22.1% more than in the same period last year, according to a study by the Economic and Social Analysis Unit at the Ministry of Economy and Finance (MEF), based on figures from the National Institute of Statistics and Census, the Controller General of the Republic.

Panama: Overseas Purchases Grow

August 2011

In the first six months of the year imports grew by 21% compared to the same period in 2010.

Of the total imported goods in the period under review, capital goods and consumer goods were those who experienced the largest increase, with 31% and 22% respectively.

The increase in foreign purchases in the first half of the year, totaling $5,384 million, reflects Panama’s strong economic performance.

Panama: Imports Growing

May 2011

In the first quarter there were 20% more imported goods than in the same period of 2010.

The buoyancy experienced by the Panamanian economy has led Panamanians to increase consumption, explaining the significant increase on imported goods in recent months.

An article in Prensa.com notes: "According to preliminary figures from the Controller, from January to March $2,484.800 worth of assets came into the country, whereas in 2010 the total was $69.3 million 2000. "

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