Construction in Panama Increasing, Year on Year

Saturday, November 28 2009 @ 12:00 PM EST

Contributed by: Don Winner

La Critica - The total value of building permits issued through October of 2009 increased by $2 million dollars (0.1%) according to a statistical report issued by the Ministry of Economy and Finance. According to the report the total value of permits for new construction, additions and repairs in Panama was $1.395 billion dollars through October 2009, an increase of $2 million dollars over the same period last year. The statistical report reflects a significant increase in the value of nonresidential construction (69.4%), while simultaneously reflecting a drop in the value of residential construction (21.3%). (Editor's Comment: Wow. New permits worth another $1.3 billion have been issued this year? In spite of the global economic crisis? Clearly, Panama remains a single bright spot among Latin American economies. This is great news.)

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