Panama's Economy Grew at an Average 6.3%

Over the past 14 years, taking into account the 7.5% growth of 2010, the economy has grown at an average rate of 6.3%.

Friday, March 4, 2011

In the past five years the growth rate has been 8.3%, according to a report by the Ministry of Economy and Finance. In 2009 Panama's economy grew 3.2% while growth in 2010 doubled to 7.5%.

The report informs that in 2010 the transportation, storage and communications sectors continued to grow rapidly. Last year it was 15.5%, thanks to technologies introduced assisting economic activity, trade grew 11.1% due to both domestic and commercial activity with the rest of the world and among others, tourism and restaurant sectors grew 10.9%.

During the period, only fishing remained in recession, due to natural phenomena, natural reproductive cycles, poor administration and controls over industrial fishing (tuna).

More on this topic

Nicaragua Grew by 5.2% in 2012

March 2013

For the second consecutive year, the Nicaraguan economy has grown by more than 5%, maintaining the impetus registrated for 2011, when it grew by 5.4%.

The recent history of Nicaragua's economy is marked by ups and downs, averaging annual growth figures of 4%.

In presenting the macroeconomic statistics for 2012, authorities from the Central Bank of Nicaragua highlighted a record $2.677 billion in exports which is 18.3% greater than that achieved in 2011, an increase in foreign investment, which totaled $1.102 billion , and the contribution of remittances, which totaled $1.114 billion.

Panama's Economy Growing at Double-Digits

September 2011

During the second quarter of 2011, Panama's economic growth was 11.4%, reaching 10.3% during the first six months of the year.

A statement from the Panamanian Ministry of Economy and Finance reads:

Panama's economic growth for the second quarter of 2011 was 11.4% and in the first half was 10.3%, as reported by the minister of Economy and Finance, Frank De Lima, citing figures from the Controller General of the Republic.

Panama Grows and Grows ....

June 2011

With 9.7% growth in the first quarter of 2011 compared to data recorded in the first quarter of 2010, the thrust of the Panamanian economy is surpassing all expectations.

While the rest of the world was just emerging with difficulty from the global financial and economic crisis in 2010, Panama grew by 7.5%. The projected growth for 2011 is 9%.

Panamanian Economy Up 6,1% in First Half of 2010

September 2010

The economy of Panama grew 6,1% between January and June, reaching a GDP of $10,8 billion, $571 million more than the same period of 2009.

The sectors with the highest growth were transportation, storage and communications (+14%), followed by trade (+10,2%) and tourism (+9,6%).

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