Panama's Economy Grew 7.5% in 2010

The Panamanian Economy grew 7.5% in 2010, reaching a gross domestic product (GDP) of $ 20.862.000.

Wednesday, March 2, 2011

Production of goods and services in Panama saw an increase of 7.5 percent over the previous year.

GDP at constant value of 1996 prices, according to INEC estimates, registered $ 20,862.9 million, showing an annual increase of $ 1.448.8 million.

The growth is explained by the recovery of international economies, affecting the behavior of economic activities related to external sectors. Among these activities we find: ports, air transport, tourism, trade at the Colon Free Zone as well as bananas and pineapple exports. On the other hand, contributions by the Panama Canal and melon and watermelon exports showed decreases.

The domestic sector showed growth in the following activities: cattle and poultry, mining, construction, electricity and water, retail, restaurants and hotels, passenger and cargo transportation, shipping, telecommunications, education, private health, community services and household services.

The GDP over the fourth quarter showed a positive trend of 8.7 percent compared to the same period last year.

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Construction grew 54.5% in June in Panama

August 2008

The value of construction, repair, and extension permits approved during the first half of the year was at $829.8 million.

Most of the investments are located in the district of Panama, with $675 million (58.5% more than the year before); this is followed by Arraijan, which, with $44 million, had the biggest increase in the country (161.3%).

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