Panamanian Exports to Canada Soar

For the first time since records began, exports of goods to Canada in the first six months of the year managed a trade surplus.

Monday, September 27, 2010

Panama's total exports to Canada were $37.4 million in the first half of the year while imports were $29.1 million.

According to data from the National Comptroller's Office, the reason for the surplus was the sale of gold for non-monetary purposes, which made up 90% of total exports.

"Exports for the six months represents were four times that exported throughout 2009 and is due to the Petaquilla gold mining output," reports La Prensa.

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Colon Free Zone: Surplus of $877.2 million in Five Months

September 2012

During the first five months of 2012, the Colon Free Zone in Panama registered a trade surplus of $870.2 million.

A press release from the Ministry of Economy and Finance of Panama reads:

During the first five months of 2012, the Colon Free Zone registered a trade surplus of 877.2 million balboas ($877.2 million), after recording re-exports worth 6.6624 billion balboas ($6.6624 billion) and imports worth 5.7852 billion balboas ($5.7852 billion), as reported by the Department of Economics and Social Analysis of MEF through a report.

Panama: Gold Leads Growth in Exports

September 2011

In the first six months of the year the country exported $9.5 million more than it did in the same period in 2010.

According to the Controller's Office, total exports of gold last June was $54.4 million, compared with $33 million in the same period in 2010. Gold exports have been rising month on month, from $8 million in April 2011 to $11 million in June 2011.

Panamanian Gold Exports Shoot Up

August 2010

Gold exports have increased from 5,749 ounces in the first half of 2009 to 33,369 in the same period of this year.

According to information from the National Comptroller's Office, income from gold exports increased from $1.5m to $23.8m.

"Experts and the Panamanian Mining Chamber say that the figures are entirely due to the beginning of Petaquilla's operations in Colón, which will already be generating royalties for the government, though not everyone agrees with the project," reports

Panama Triples Gold Exports

March 2010

Gold exports summed $16 million in 2009, three times more than in 2008, according to data from the Economy ministry.

Zorel Morales, president of the Mining Chamber of Panama, explained that the main driver of this growth was the opening of Petaquilla Gold mine, located in Donoso, Colón.

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