Panama Reports Economic Growth
(insidecostarica.com) 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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Original Source: insidecostarica.com
Date Retrieved: May 25, 2009.
