Consistent with the downward trend reported since the beginning of last year in Panama, during 2018 the cost of new construction, additions and repairs fell 39% compared to 2017

Data from the General Comptroller of the Republic detail that the performance of the construction sector in 2018 was negative, since the cost of new constructions, additions and repairs totaled $1.311 million, a figure lower than the $2.144 million reported in 2017.

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Last year’s fall contrasts with the rise recorded between 2016 and 2017, since for those years the sector’s investments increased from $1.924 million to $2.144 million, equivalent to a 11% increase.

Last year, Panama was the province with the highest cost of new construction, additions and repairs reported, with a total of $890 million and one million 349 thousand square meters. It was followed by La Chorrera, Arraiján and Colón, with $107 million, $97 million and $89 million, respectively.

See General Comptroller’s Office report.