Panama: Construction Falls 13% up to November 2019

Construction activity in the country continues to decline, since between January and November last year, $1072 million were reported in new construction, additions and repairs, 13% less than the same period in 2018.

Friday, January 10, 2020

The last report of the General Comptroller of the Republic, explains that in November this year the cost of new construction, additions and repairs totaled $56 million, which is 47% less than that reported in the same month of 2018.

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Between the first eleven months of 2018 and the same period in 2019, the total cost of construction went from $1,228 million to $1,072 million, a drop of 9%.

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From January to November of this year, Panama was the province that recorded the highest cost of new construction, additions and repairs reported, with a total of $695 million. It was followed by Arraijan and Colon, with $89 million and $73 million, respectively.

See report from the General Comptroller's Office (in Spanish).

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More on this topic

Construction in Panama falls 14% in 2019

February 2020

Construction activity in the country continued to decline for the second consecutive year, as total investment fell 14% between 2018 and 2019, slightly less than the rate reported between 2017 and 2018 of -39%.

The latest report from the General Comptroller of the Republic, explains that in December 2019 the cost of new construction, additions and repairs totaled $56 million, an amount that is 30% less than that reported in the same month of 2018.

Construction: Investment Falls 9% up to October 2019

December 2019

Construction activity in Panama continues to decline, as in the first ten months of the year were reported $1,016 million in new construction, additions and repairs, 9% less than in the same period in 2018.

The most recent report of the General Comptroller of the Republic, explains that in October of this year the cost of new constructions, additions and repairs totaled $131 million, which is identical to the amount reported in the same month of 2018.

Construction in Panama Still at Risk

January 2019

Consistent with the trend reported two years ago, in the first eleven months of 2018 the cost of new construction, additions and repairs fell 39% over the same period in 2017.

The latest report of the General Comptroller of the Republic details that between January and November of this year the cost of new construction, additions and repairs totaled $1.227 million, and the number of projects for which construction permits were granted was 9.858.

Construction Still Not Recovered

July 2018

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.

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. 

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