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Panama Construction Projects Jump by 48%; Residential Projects See a 9% downturn

Article Summary:

Panama’s Ministry of Economy and Fiance (MEF) claim the country saw a 48% increase in Panama construction projects recorded in July 2011. Latest figures indicate that both projects under the control of the National Government and private sectors caused the increase. However, the report also details a downturn in residential construction and a total investment in construction dollars less than seen 2010.

Original Article Text From CentralAmericaData.com:

A press release from the Ministry of Economy and Finance of Panamastates:

The progress of the various works and projects under development, both National Government and private enterprise ones, are reflected in the latest Economic and Social Council, prepared by the Ministry of Economy and Finance (MEF), which indicates that the total amount of projects in the construction sector grew by 48.4% to up to July 2011.

“(Panama) Construction increased due to public and private infrastructure works, alongside a number of residential and nonresidential projects being carried out in different parts of the country”, notes a document which details that residential projects exceeded by 51.1% those of last year and non-residential projects decreased by 9%.

However, the total investment for these projects was 13.7% lower than in 2010, ($631.9 million in 2011 and $732.1 million last year).

The report highlights examples of the materials whose prices increased, which were: Portland cement (3.1%.) Blocks, depending on the material by 2 and 3.8%, stone 8.2% and sand 13.8%, according to the index prices estimated by the National Institute of Statistics and Census.

Link to Original Article:

From Centralamericadata.com

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