In general, the manufacturing industry reduced production in the first five months of this yearwith very few segments recording an increase compared to last year.
According to preliminary data from the State Institute for Statistics and Population Census at the Chief Inspector of the Republic (Inec), the production of alcoholic beverages is lower by 590 thousand liters from January to May but in the same period in 2022.
The beer productionfor example, from 109.8 million liters in the first five months of this year, in 2022, to 108.7 million this year.
Also, dry production was lower at 41,000 litersas well as gin (-127,000 liters) and rectified alcohol (-1.2 million liters).
On the contrary, production of soft drinks or soda, increased by 6.9 million liters and rum 744 thousand liters, according to Inec statistics.
Regarding when slaughtering cattle, this is less by 2,660 headsfrom January to May this year, compared to 2022, while the slaughter of pigs was higher by 21,600 heads.
On Chicken meatthe updated figures only cover the first quarter of the year, reflecting a decrease of 399 birds compared to 2022.’
108.7
produced one million liters of beer.
109.8
million liters in the first five months of 2022.
The production of dairy products it also decreased between January and May.
The evaporated, condensed milk and milk powder increased from 6.8 million kilograms in 2022 to 6.3 million this yearwhile pasteurized dropped from 39.9 million to 33.0 million.
Production natural milk used to make related products it also fell from 61.5 million kilograms to 54.7 million.
In the lines where there was an increase in production, tomato derivativeswhich increased from 5.2 million to 5.4 million kilograms, like salt, which increased from 22.7 million to 29.9 million kilograms in 2023.
Eye, director of the Industrial Union of Panama (SIP), Aida Ureña de Madurohe attributes the decline in the production of alcoholic beverages to the decline in sales of catering establishments, many of which did not reopen after the pandemic.
Regarding the decline in cattle slaughter, he pointed out that the drought affected the presentation of this realitybecause there are fewer livestock available due to this environmental factor, which is why the Government has declared an environmental emergency.
He the industrial sector grew by 4.4% in 2022 and the expectations for this year are that growth will remain in 2023 at an average of 4% to 5%.
However the manufacturing industry continues to grow below the figures shown in 2019.
As for employment, By 2022, 143 thousand 457 people worked in this sectorwhich is a lower figure than in 2019, when there were 144,786.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
