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Panama Reports Economic Growth
Panama - The Monthly Index of
Economic Activity in Panama reported a
growth of 3.4 percent during the first
quarter of 2009 in relation to a similar
period last year, informed official sources.
According the General Comptroller of the
Republic, this result is due to a favorable
behavior in activities such as construction,
transportation, mining and quarries,
communication and financial intermediation.
Construction and mining continue growing in
relation to the extraction of non iron
minerals as well as public and private
investments in non residential products and
civilian engineering works.
In the meantime a rise in shipping through
the National Port System, air transport and
telecommunications was observed.
The exception was the transportation of
ships and net tonnage moved across the
Panama Canal and the movement of containers.
Hotel and restaurant activity increased
mainly through the increase of tourists and
overnight stays registered both in Panama
city and some interior localities of the
Republic.
The manufacturing industry reported advances
in the work of non metal, food and textile
products in face of a reduction of plastics
and chemicals.
Added to this, trade showed a group of
reductions from lower performance of
operations reported in the Free Zone of
Colon. |
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