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Sustained economic growth
August, 03 2006
The Colon Free Zone, the Canal, banking, ports, tourism, and agricultural exports continue being the most dynamic sectors.
The national manufacturing industry is beginning to show signs of recovery, said the Comptroller.
According to the Monthly Economic Activity Index (IMAE) that the Comptroller General of the Republic published yesterday, Panama grew 6.92% during the first five months of this year compared to the same period in 2005.
This growth rate is superior to those registered in the majority of Latin American countries and the European Union during the first quarter, and similar to some Asian tigers like Japan.
The Colon Free Zone, banking, tourism, telecommunications, agricultural exports and construction continue being the most dynamic sectors that lead the economic growth.
Even the manufacturing industry, that in the recent past had long periods of recession, is showing signs of recovery.
“There are many reasons to feel optimistic,” said the president of the Panamanian Association of Business Executives, Enrique de Obarrio. “And what is to come looks even better, but it will mean little if we do not prevent those benefits from remaining in the hands of the privileged few and help reduce poverty for those who have always lived on the fringes of development.”
In expansion________________________
Growth Rate
Colon Free Zone 10.0%
Canal 20.4%
Banking 16.9%
Tourism 12.6%
Hotels 8.9%
Construction 17.0%
Beverage Production 11.0%
Meat Production 29.2%
________________________________________
Source: Comptroller Infographics/LA PRENSA
Article by:
MARIANELA PALACIOS RAMSBOTT
LA PRENSA NEWSPAPER
marianelap@prensa.com
July 25, 2006
The Colon Free Zone, the Canal, banking, ports, tourism, and agricultural exports continue being the most dynamic sectors.
The national manufacturing industry is beginning to show signs of recovery, said the Comptroller.
According to the Monthly Economic Activity Index (IMAE) that the Comptroller General of the Republic published yesterday, Panama grew 6.92% during the first five months of this year compared to the same period in 2005.
This growth rate is superior to those registered in the majority of Latin American countries and the European Union during the first quarter, and similar to some Asian tigers like Japan.
The Colon Free Zone, banking, tourism, telecommunications, agricultural exports and construction continue being the most dynamic sectors that lead the economic growth.
Even the manufacturing industry, that in the recent past had long periods of recession, is showing signs of recovery.
“There are many reasons to feel optimistic,” said the president of the Panamanian Association of Business Executives, Enrique de Obarrio. “And what is to come looks even better, but it will mean little if we do not prevent those benefits from remaining in the hands of the privileged few and help reduce poverty for those who have always lived on the fringes of development.”
In expansion________________________
Growth Rate
Colon Free Zone 10.0%
Canal 20.4%
Banking 16.9%
Tourism 12.6%
Hotels 8.9%
Construction 17.0%
Beverage Production 11.0%
Meat Production 29.2%
________________________________________
Source: Comptroller Infographics/LA PRENSA
Article by:
MARIANELA PALACIOS RAMSBOTT
LA PRENSA NEWSPAPER
marianelap@prensa.com
July 25, 2006
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