Panama economy up 5.8%

PANAMA’S economy grew 5.8 percent in the second quarter of 2015, as compared to the same period last year  in spite of dire predictions by ex-president Ricardo Martinelli

The figures were released  by the National Institute of Statistics and Census of the Comptroller General on Tuesday September 15.

The country’s gross domestic product was $8.7 billion for the quarter, an increase of $480 million compared to the same quarter of 2014.

Mining and quarrying, construction, retail sales, transport and communications were some of the activities performed well.

Also increased were port activities, the Panama Canal, restaurants and hotels.

Air transport, fisheries, trade from the Colón Free Zone and exports of pineapples, melons and watermelons showed a decrease.