Mining lifted Panama 2019 growth to 3 percent

Panama’s  economy grew 3% in  2019, which meant an increase of $1.256.8 billion, to a gross domestic product (GDP), , of $43,061 billion.

In  the fourth quarter of 2019  the econoy was 3.3%, higher than the previous three quarters.

This growth was mainly due to the mining sector, which registered 45.4%,  specifically due to the increase in the activity of the extraction of copper concentrate in the second half of the year.

The transport, storage and communications category registered an annual increase of 6.8%, driven by the operations of the Panama Canal, which grew 6.3%, given the increase in tolls and ship services; the port system rose 7.7%, the general cargo 11.4%, and bulk cargo 16.7%.