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The downturn in Panama's economy, marked by the construction workers' strike that ended in mid-May, has colored economic activity in the Colon Free Zone. (ZLC), which until recently months are marked by positive numbers
This is revealed by the figures from the Institute of Statistics and Census (INEC), published by the Comptroller General. The paper says that in May 2018, the trade in the important Panamanian free zone fell by 23.3%, compared to the same month of 2017.
According to the figures of the entity In the fifth month of 2018, the value of trade in the Colon Free Zone (CIF imports and re-exports with FOB value) totaled $ 1,587.28 million. The activity showed red figures both in the monthly change in imports (-23.5%) and in re-exports (-23.2%).
Whereas in the same month of 2017, trade in the free zone totaled $ 2,070.32 million; that is to say, it totaled $ 483,033 more than in May of this year, according to the report until May 2018.
WEIGHT TRADE
According to the official report, as of May 2018, the total trade weight of the FTA (measured in metric tons) also decreased by 7.6%. Meanwhile, the weight of CIF imports decreased by 9.3% and that of FOB re-exports decreased by 5.7%.
COMMERCIAL ACTIVITY
Trade Growth in the Colon Free Zone Decreases [19659002] From January to May 2018, the Colon Free Zone recorded lower growth than in 2017. Up in the fifth month, it grew by only 4.2% and 104% in the same period in 2017, according to INEC figures.
The INEC shows that the deceleration recorded in May this year has seriously affected commercial activity in the CFZ, even causing a decrease in the value of trade during the first five months of the year. ;current year.
The figures are based on that during the period studied last year, the value of trade in the free zone increased by 10.4%; However, the situation changed this year, when it recorded a minor growth of only 4.2%.
In the first five months of 2017, the percentage change in CIF imports was 10.3%, but in 2018 it fell to 4.1%.
In the meantime, the official report suggests that the commercial value of FOB re-exports was 10.5% last year, but this year this limit fell to 4.4%
. The weight (measured in metric tons) increased from 7.4% from January to May 2017 to 0.6% over the same period of the year. And the weight of re-exports went from 3.0% last year to 2.6% this year.
For its part, the weight of imports rose from 12.1% between January and May 2017 to -1.2% over the same period of 2018
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