Panama: Value of New Construction Down 3% in 2016
Posted on 2017-01-31
In San Miguelito and Panama the reduction compared to 2015 in the value of buildings, additions and repairs was 28% and 8%, respectively.
Figures from the Office of the Comptroller General of Panama show that by the end of 2016 the value of construction, additions and repairs amounted to $2.088 billion, 3% less than the $2.075 billion in 2015.
In the case of residential buildings, the total value registered in 2016 was $1.256 billion, just above the $1.252 billion reported in 2015. Moreover, in the case of non-residential buildings, a reduction of 8% was recorded.
Source: Comptroller General of Panama