PANAMA CITY – Panama’s gross domestic product climbed 6.3 percent in the first half of 2014 compared with the same period in 2013, the Economy and Finance Ministry said Tuesday.
Measured in dollars, Panama’s GDP between January and June was $17.32 billion, up $1 billion from the first six months of 2013.
Major growth sectors in the first six months of 2014 were fishing, construction, mines and real estate, while hotels and restaurants, agriculture and utilities had a lackluster performance compared with 2013.
The economy could grow 7 percent for 2014 as a whole, the ministry said.
The national banking system’s net profit reached $616.8 million, a gain of $56.5 million over one year earlier, according to the report. Bank deposits increased from $61.9 billion to $62.66 billion.