Panama

According to the National Institute of Statistics and Census, the agriculture sector grew 6% in 2011 and 3.9% in 2012. However, its contribution to GDP fell from 8% at the start of the millennium to 2.5% in the third quarter of 2013. One of four key pillars of economic growth in the Strategic Plan 2012-14, the sector has faced a number of challenges. The rapid pace of urbanisation, accompanied by...

One of four key pillars of economic growth in the Strategic Economic Plan 2010-14, the tourism sector has experienced rapid development in the past decade. According to the World Travel...

According to the National Public Services Authority, ICT revenues rose from $743m in 2007 to $957m in 2013, maintaining a contribution to national GDP of around 3%. Much of this growth has been generated through the expansion of mobile services and broadband, which continue to offer significant room for growth. Fixed-line connections also registered significant expansion, rising 14% year-on-year...

With demand for power estimated to grow around 7.5% per year until 2016 and maintaining annual averages of 5.6% in the following 10 years, managing the balance between demand and supply is a key concern for Panama. In other utility segments, such as water, rising consumption levels are exposing decades-long underinvestment in infrastructure networks. As a result, ambitious investment plans – from...

A major driver of GDP growth over the past decade, the construction sector generated more than $2.5bn in 2013, accounting for around 9% of GDP, a year-on-year (y-o-y) increase of 30%, according to the Panamanian Chamber of Construction. Public infrastructure works are leading this surge, but the private sector is also playing a significant role through residential and commercial developments. The...

Double-digit GDP growth for four of the past seven years, moderate inflation and high employment have had a positive impact on Panama’s retail sector. According to the National Institute of Statistics and Census, retail revenues increased 19.1% between 2011 and 2012, outpacing those of other service segments, and attracting growing interest from potential foreign entrants, particularly from the...