Strong dollar hits Panama exports

THE STRENGTH of the US dollar is believed to be the main reason for a 14.9 percent fall in Panama exports in 2015.

Figures released by the Comptroller General show that last year Panama’s exported goods were valued at $695.7 million, $121 million less than in 2014.

In fact, exports in 2015 were the smallest registered since 2011.

The report indicates that exports were $843.6 million in 2013 and $821.6 million in 2012.

The main decreases in exports were pineapples (-31.6 %), shrimp (-31.4 %), watermelons (-17.5 %),  tuna and fish (-10.4 %), unrefined sugar (-27.5 %), fishmeal and fish oil (-39.7 %), coffee and clothing (-8.5 %).

BRIGHT SPOTS

Increases were recorded in exports of bananas (3.3 %), melons (34.6 %) and beef (234 %).