--- title: "Construction boosts economy in Panama and Colombia - Gerencia de Edificios" description: "The construction sector in Panama presented growth figures of 7.8% for the first quarter of 2015." url: "https://www.gerenciadeedificios.com/en/news/latest-news/375-enterprises/8842-construction-boosts-economy-in-panama-and-colombia.html" date: "2026-07-23T06:15:30+00:00" language: "en-GB" --- # [ Construction boosts economy in Panama and Colombia](https://www.gerenciadeedificios.com/en/news/latest-news/375-enterprises/8842-construction-boosts-economy-in-panama-and-colombia.html "Construction boosts economy in Panama and Colombia") Details 24 June 2015 ![construcción](https://www.gerenciadeedificios.com/images/stories/GDE/constrcpacol.jpg)Latin America. The construction sector in Panama presented growth figures of 7.8% for the first quarter of 2015 according to data from the Directorate of Economic and Social Analysis of the Ministry of Economy and Finance (MEF), thus remaining one of the main activities of the Panamanian economy. The same institution also revealed that the value of construction during that same period increased by 17.9%, driven mainly by new commercial and residential projects. The MEF also pointed out that the average value of the square meter stood at $651.04, which meant an increase of 43.0%. For its part, in Colombia, construction is also a key development axis. In the first quarter of the year, this sector contributed 4.9% to the country's Gross Domestic Product (GDP), according to the National Administrative Department of Statistics (DANE). - Publicidad - Sandra Forero, president of the Colombian Chamber of Construction (Camacol), said in this regard that "the result in buildings was foreseeable after non-residential destinations contributed positively to the growth of the sector, with important contributions in the development of office projects and public investment." 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