Panama is the country in Latin America that has grown the most economically in the last decade

Posted on 2019-03-15

The public sector is one of the most important economic sectors in the country, in which major investments have been made in infrastructure, urban planning and transportation in recent years; and it is expected to continue regardless of the outcome of the next general election on May 5.

In this 2019 the last public works project of the Government of Juan Carlos Varela will be completed, which envisaged an investment of $ 19,000.

Based on the results of the new elections, it is expected that the incoming government will focus on areas such as infrastructure, logistics development and tourism.

Panama is characterized as an importer of almost all types of products except raw materials, due to its low industrial activity, as well as agricultural products, due to high tariffs.

Construction equipment and machinery are also an important part of the market, due to the investment in public works, as well as medical equipment.

Regarding the distribution channels, since it is a small market, it is common that the figure of the importer coincides with that of the wholesaler or even that it has retail outlets.

In general, these are importers with low specialization, who acquire a wide range of products.

80% of GDP is concentrated in Panama City, because it is the main business center. Other cities where it stands out that the Panamanian trade is in the Colon Free Zone and the city of David, in the province of Chiriqui.

Source PanamaOn

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