Panama: Construction Falls by 28%

At the end of the first quarter of 2019, the cost of new construction, additions and repairs fell 28% compared to the same period in 2018.

Wednesday, June 26, 2019

The latest data from the General Comptroller of the Republic details that only in April of this year the cost of new construction, additions and repairs totaled $79 million, an amount that is 36% lower than that reported in the same month of 2018.

You may be interested in "Construction: Upcoming Projects in the Region"

Between the first quarter of 2018 and the same period in 2019, the total cost of construction went from $449 million to $322 million, which is equivalent to a fall of 28%.

Also see "Cement: More Business between Central America and Mexico

In January and April of this year, Panama was the province that recorded the highest cost of new construction, additions and repairs reported, with a total of $175 million. Arraijan and Colon followed, with $34 million and $29 million, respectively.

Regarding gray cement production, the report indicates that for the periods concerned there was a decrease of 13%, dropping from 597 thousand tons in the first four months of 2018 to 518 thousand tons in the same period of 2019.

See report of the General Comptroller of the Republic.

More on this topic

Construction in Panama: Figures up to February 2019

April 2019

In the last two years, the downward trend in construction has been a constant, and in the first two months of 2019 the cost of new construction, additions and repairs fell 19% over the same period in 2018.

The most recent report of the General Comptroller of the Republic details that only in February of this year the cost of new constructions, additions and repairs totaled $92 million, which is equivalent to 134 thousand m2 of constructed area.

Panama: Construction Continues in Alarming Numbers

October 2018

The cost of new construction, additions, and repairs fell 39% in the first eight months of 2018 compared to the same period in 2017, confirming the trend shown since last year.

The most recent figures from the Comptroller General of the Republic detail that between January and August of this year the cost of new constructions, additions, and repairs reached $917 million, and the number of projects for which construction licenses were granted was 6.489.

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. 

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.

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