IMAE: Growth in Panama Economy with a 6.18%

Posted on 2017-08-28

The monthly Index of Economic Activity (IMAE) indicates that the Panamanian economy altogether to grown a 6.18% from January to June.

In the first half of the year sectors such as transport, storage and communications, which reflect the activities of the Panama Canal have been the major drivers of the economy.

Following the construction, exploitation of mines and quarries, electricity and water, public administration, manufacturing, community activities and trade. The rest of the categories showed positive figures indicating that they also grew during the same period, favorable incidence, but at a slower pace, with the exception of agriculture, health and fisheries, which recorded a decrease.The monthly inter-annual variation of June 2017, compared to 2016, was 5.84%, slightly lower than the other months but with good growth. In this month the business recorded an increase, explained by the demand in the local wholesale trade and the Colon free zone.

Transport and communications services recorded a favorable outcome, because the net tons of the Panama Canal and the measured movement of containers in TEU of the national port system; They also contributed positively telecommunications and international passenger transport by air.

Manufacturing production showed positive rate in activities such as: production of alcoholic beverages and food products, paper making, processing of non-metal products for the construction and metal.However, the manufacture of plastics, textiles, chemicals and editing and printing, recorded negative rates.

Source: AN Panama