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Latin America Investment News on Viva Tropical

Economic Good Times Continue for Panama

Article Summary:

The revenue from the top three of the most important economic sectors in Panama; industry, trade, and hotels, exceeded $13,700 billion in the first six months of 2012.

Photo Credit: Panama America

Original Article Text From Panama America via Google Translate:

Trade, Industry and Hotel Receipts of $ 13 Billion

hree of the main sectors of the Panamanian economy, such as industry, trade and hotels, billed in the first half of the year 13 000 763 000 000 $ 728 000, a 12.7% increase over 2011.

Both tourism associations such as industrial support going through a good economic times.

According to the latest report of the Comptroller, the activity increased income earned during this period was the wholesale trade, with $ 6000 645 000 000 486 000 and 29 000 generated 300 jobs.

The manufacturing industry earned revenues of $ 2 000 128 000 000 367 000, 6.1% higher than recorded in 2011, while the retail trade recorded for his part $ 4 000 481 000 000 850 000, a difference in favor of 25.2% . The hotels and restaurants sector in the semester billed another $ 508 million 025 thousand, with 12.8% higher than in 2011.

For staff employed in these three sectors account for 181 000 641 jobs by June this year.

The retail trade is the largest employer with 490 seats 76,000, 10.9% more than workers who had last June. This group of workers received compensation paid between January and June about 372.4 million dollars.
The manufacturing industry employed 49 000 035 people during the first half of the year, and wages paid in the order of 277 000 000 $ 671 000, while wholesale trade generated 29 thousand 300 jobs and wages disbursed 823 000 189 000 000 dollars. The hotels and restaurants generated 26 000 816 jobs and 109 million in salaries paid $ 158,000.

Sara Pardo, president of the Panamanian Association of Hotels (Apatel), noted that “individually, hotels are experiencing low but globally injection in Panama City certainly does appear that there is an increase due there are more rooms available. ”

“We are opening 3000 200 rooms this year, which will generate at least the same number of jobs as there are hotels that have an employee of the room,” he said.

Envisaged that for the last quarter of this year the numbers may improve, as those recorded in the months of May, June, July and August.

Link to Original Article:

From Panama America

  • Guido

    The translation leaves a bit to be desired. What are all the wacky numbers….?

  • Gordo

    Beware of the consumer debt mentality. Good times are spending quality time with quality people, not going shopping buying junk you don’t need. Money, social status and feeding egos are the not answer to a healthy happy life.

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