LatinNews Daily - 07 March 2022

In brief: Panama posts solid growth in 2021

* Panama’s national statistics institute (INEC) has released new figures which show that the country’s GDP grew 15.3% in 2021. According to INEC, this reflects the reactivation of the economy following the elimination of heath measures imposed in response to the coronavirus (Covid-19) pandemic which caused Panama’s GDP to contract by 17.9% in 2020 – the largest contraction in Central America. Sectors which registered particularly high growth in 2021 included: mining & quarries (115.7% year-on-year); other community, social & personal services (46.2%); construction (31.6%); trade (19.2%); manufacturing (11.1%) and transport, storage & communications (11.1%). Meanwhile, the financial intermediation sector contracted by 3.0%.

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