Construction in Panama – Key Trends and Opportunities (H1 2021)

Panama’s construction industry was severely affected in 2020 by the emergence of the Coronavirus (COVID-19) pandemic, as well as the stringent measures taken by the government to contain its spread and the suspension of all construction projects, except health-related projects. The industry suffered the steepest output contraction when compared to other countries in Latin America, with a fall of 51.5% in real terms in 2020, according to the National Institute of Statistics and Census of Panama (INEC). The industry’s output value, measured at constant 2017 US dollar exchange rates, decreased from US$24.3 billion in 2019 to US$11.7 billion in 2020.

GlobalData expects that the construction industry’s output will rise sharply in 2021, owing to the very low base in 2020, as well as the resumption of normal economic conditions, growing by 54.9% in real terms this year. Over the remainder of the forecast period, the industry is expected to normalize to an annual average growth rate of 9.2%, supported by public and private sector investment on infrastructure, residential and industrial construction projects. The government’s efforts to raise investment on renewable energy project is also expected to support growth; under the Panama’s National Energy Plan 2015-2050, the government aims to increase the share of the country’s clean energy mix to 70% by 2050.

This report provides detailed market analysis, information, and insights into Panama’s construction industry, including –

– Panama’s construction industry's growth prospects by market, project type and construction activity

– Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Panama’s construction industry

– Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope

This report provides a comprehensive analysis of the construction industry in Panama. It provides –

– Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Panama, featuring details of key growth drivers.

– Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector

– Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.

– Listings of major projects, in addition to details of leading contractors and consultants

Reasons to buy

– Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.

– Assess market growth potential at a micro-level with over 600 time-series data forecasts.

– Understand the latest industry and market trends.

– Formulate and validate strategy using GlobalData's critical and actionable insight.

– Assess business risks, including cost, regulatory and competitive pressures.

– Evaluate competitive risk and success factors.

Table of Contents

Table of Contents

1. Construction Outlook

2. Construction Industry: At-a-Glance

3. Latest News and Developments

4. Project Analytics

5. Construction Market Data

6. About GlobalData

6.1 Definitions

List of Tables

List of Tables

Table 1: Construction Industry Key Data

Table 2: Panama, Top Construction Projects by Value

Table 3: Panama, Construction Output Value (Real, US$ Million)

Table 4: Panama, Construction Output Value (Nominal, PAB Million)

Table 5: GlobalData Construction Market Definitions

List of Figures

List of Figures

Figure 1: Panama, Construction Output Value (Real, US$ Million, 2017 Prices and Exchange Rate), 2016-2025

Figure 2: Panama, Construction Output Value, by Sector (Real, US$ Million), 2016-2025

Figure 3: South and Central America, Construction Output (Real % Change), 2020 and 2021

Figure 4: Panama, Construction Projects Pipeline by Sector (US$ Million)

Figure 5: Panama, Construction Value-Add (US$ Million, 2007 Constant Prices)

Figure 6: Panama, Gross Fixed Capital Formation (US$ Million, 2007 Constant Prices)

Figure 7: Panama, Total Construction Area of the Main Municipalities in the Republic (m2)

Figure 8: Panama, Real Estate, Business and Rental Activities Value-Add (US$ Million, 2007 Constant Prices)

Figure 9: Panama, Wholesale and Retail Trade Value-Add (US$ Million, 2007 Constant Prices)

Figure 10: Panama, Hotels and Restaurants Value-Add (US$ Million, 2007 Constant Prices)

Figure 11: Panama, Total Value of Goods Exports (US$ Million)

Figure 12: Panama, Social Services and Private Healthcare Activities Value-Add (US$ Million, 2007 Constant Prices)

Figure 13: Panama, Total Visitors Arrival (in Thousands)

Figure 14: Panama, Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 15: Panama, Headquarters of Key Consultants (% of Total Project Pipeline)

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