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According to an August report by Panama’s economy and finance ministry (MEF), GDP grew 9.9% in the first four months of 2011, driven by transport and related sectors and construction. This compares to 6.7% over the same period of 2010; 4.6%, 2009; 10.5%, 2008; and 12.2%, 2007.
Exports: The same MEF report showed exports reached US$245.9m in the first four months of 2011, down from US266.2m in the same period of 2010. Gold has now become Panama’s leading export in value terms, representing US$28.3m over the period. This is followed by bananas (which represent US$27.4m): the sector is showing signs of recovery (up from US$22.8m in the same period of 2010) following the hurricane winds that had affected the Bocas del Toro banana growing region.
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