Panama economic activity strengthens in September
MEXICO CITY – Panama's economy accelerated in September, as strength in the mining and construction sectors made up for slow traffic through the Central American nation's trademark canal and ports.
Economic activity rose 8.15% in September compared to the same month last year, the government statistics agency said on Tuesday, up from a downwardly-revised 6.59% in August.
The finance ministry projects the $33-billion economy will grow 8.5% this year, down from the double digit growth Panama has notched in four of the past six years.
The expansion is thanks in large part to massive government infrastructure spending, including the ongoing $5.25-billion expansion of the Panama canal and the construction of Central America's first metro for $1.8-billion.
Minera Panama, a subsidiary of Canada's First Quantum Minerals is also building a $6.2-billion copper mine on the Atlantic, which is expected to become one of the world's most important openpit copper developments.
But traffic through the canal and to ports continued to slump, weighed down by a global slowdown in trade. A six-month delay in the opening of the expanded canal also persuaded some shippers to choose alternative routes where they can carry goods more cheaply on bigger ships.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Occupational health services, mobile clinics, wellness campaigns, aviation.
VISIT SHOWROOM
Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
