The drop in production is explained by the performance of activities that were affected by the emergence of the covid-19 pandemic in March 2020, a situation that lasted for the rest of the year.
The Gross Domestic Product (GDP) valued at constant 2007 prices registered, according to calculations of the National Institute of Statistics and Census (INEC), an amount of $35,308.7 million, which corresponded to a decrease of $7,724.1 million, according to an official report.
Due to the crisis generated by the covid-19, in May 2020 the economic activity registered its worst decline by falling 31% in year-on-year terms, however, as of June minor decreases were reported and in September the drop was 22%.
The accumulated Monthly Index of Economic Activity (IMAE) from January to September 2020 registered a 18.3% decrease, compared to the same period in 2019, informed the General Comptroller of the Republic.
During January 2020, the production of alcoholic beverages in Panama was 26.6 million liters, 13% more than the same period in 2019.
The most recent data published by the General Comptroller of the Republic, states that the production of alcoholic beverages in general reported 3.1 million liters, going from 23.5 million liters in January 2019, to 26.6 million liters in the same month of 2020.
During the third quarter of the year, constant GDP totaled $10.731 million, 3% more than that reported for the same period in 2018.
Of the activities related to the domestic economy had a positive performance in this quarter, transport and communications, government services, electricity, trade, financial intermediation, private health and education, reported the General Comptroller of the Republic.
During September 2019, the production of alcoholic beverages in Panama was 24 million liters, and beer production fell 13% compared to the same month in 2018.
According to figures from the General Comptroller of the Republic, the accumulated production of alcoholic beverages in general reported a decline, reducing from 227.3 million liters from January to September 2018, to 218.3 million liters in the same period of 2019.
The decline in the production of food products and beverages, influenced that during the first half of 2019 in Panama reported a 4.6% year-on-year fall in the production volume of manufacturing companies.
The behavior of the manufacturing industries, observed through their global integrated indices of volume, prices and value presented, for the first semester of 2019, compared with the same period of the previous year, decreases in the order of 4.6%, 0.5% and 5.0% respectively, informed the General Comptroller's Office of the Republic.
During the second quarter of the year the constant GDP totaled $10.498 million, 3% more than that reported in the same period of 2018, explained by the activity of transport and trade.
The General Comptroller of the Republic reported that activities related to the domestic economy performed positively this quarter: transportation and communications, commerce, construction, financial intermediation, government services, health and education.
In Panama, decades ago the production of the sector represented 25% of the GDP, however, today this proportion barely reaches 2%, which is attributed to increased food imports and low soil productivity, among other factors.
Panamanian agricultural producers have been reporting difficulties in their activity for several years. This situation is reflected in the fall of the contribution made by this sector to the Gross Domestic Product (GDP), which fell from 25% in 1970 to 1.9% in 2018.
From January to June 2019, the production of alcoholic beverages in Panama was 141 million liters, 6% less than that recorded in the same period of 2018.
According to the most recent data published by the General Comptroller of the Republic, the production of alcoholic beverages in general reported a decline, reducing from 150.4 million liters from January to June 2018, to 141.2 million liters in the same period of 2019.
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During the first quarter of the year, constant GDP totaled $10.599 million, 3% more than reported in the same period of 2018.
Transport and communications, financial intermediation, electricity and water supply, construction and government services provided good performance during this period, according to the Comptroller General of the Republic.
In the first quarter of the year, the production of alcoholic beverages in Panama was 95 million liters, 8% less than that recorded in the same period of 2018.
The most recent figures published by the General Comptroller of the Republic, detail that the production of alcoholic beverages in general reported a decline, reducing from 102.8 million liters from January to April 2018, to 95.1 million liters in the same period of 2019.
The poultry farmers' union reports that in 2018 the gross value produced by the poultry sector, which includes chicken meat and eggs, totaled $390 million, 2% more than in the previous year.
Figures from the National Association of Poultry Farmers of Panama (Anavip) detail that last year the production of chicken meat was 110 million birds, while egg production totaled 704 million units.
According to the IMF, the Central American country has been the most dynamic economy in Latin America in the last three decades, reaching one of the highest per capita incomes in the region.
A report published by the International Monetary Fund (IMF), and signed by Alejandro Santos, Panama's mission chief, and Metodij Hadzi-Vaskov, chief economist in the Western Hemisphere Department, explains that the country's growth is important, since the economy has grown at around 6% per year for a quarter of a century, well above other countries with traditionally strong growth such as Chile, the Dominican Republic and Peru, as well as twice the growth rate of Latin America as a whole.
In Panama, the dry season began in November last year and not in December as planned, threatening production because of the shortage of pasture for livestock.
Representatives of the National Cattlemen's Association (Anagan) reported that they were not notified in advance about the expected change in the cycle because of the Niño Phenomenon, which prevented them from preparing to face the lack of rain in better conditions.
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