Panama economy for this 2016, has shown significant and with growth with Nicaragua, the two countries will lead, for this 2016, economic growth in Central America, according to the latest report of the United Nations Economic Commission for Latin America and the Caribbean (Cepal).

“For Panama, Cepal expects growth of its gross domestic product of 5.9% this year, while for Nicaragua provides for an increase of 4.5%.”

Panama economy

Panama Economy – Gogetit Highlights

  • Panama economy is one of the most stable in Latin America. Among the main activities, include financial, tourism and logistic services, which account for 75% of gross domestic product (GDP).
  • For its part, the Central American Economic Integration Secretariat (SIEC) projects a 4.3% growth in the economy of the entire region.
  • In terms of gross domestic product, the economy of Panama is the third Latin American economy. Also ranked 16th (after Costa Rica and Bolivia before) and ranks in the first tenth economy in terms of GDP at purchasing power parity (PPP) (after Guatemala and before Costa Rica).

The United Nations Economic Commission for Latin America and the Caribbean (Cepal), has published a new report which states that Panama will lead the growth in the region in 2016.

“It is estimated that this year, in terms of Gross Domestic Product (GDP), Panama obtain a result of 6.3%.”

If we take a look back in time, we note that in the early 2010s, Panama had a GDP of 28,917 million dollars. By 2015, the country’s GDP reached the 52,132 million dollars. Today, the economy of Panama has had a growth of 80.2% during this decade compared to 2010 GDP.

You may also be interested in: Economy in Panama – The most competitive in Latin America.

According to the Central American Economic Integration Secretariat (SIEC), exports from the region would grow 4.3% this year compared to 2015, the year in which Central American exports grew 2.7%.

Panama economy

The report showed that Panama is in the first place and Nicaragua in second place. Third, is Costa Rica, with an expected growth of 4.3% in 2016. As for the rest of the countries of the region, 3.8% growth is expected for Guatemala; 3.5% for Honduras, and 2.5% for El Salvador.

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