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Commercial movement in Panama’s free trade zone improves

Commercial movement in Panama's free trade zone improves

Commercial movement in Panama’s free trade zone improves

Panama City, Apr 16 (Prensa Latina) In January and February, the Colon Free Zone (CFZ) of Panama reported a commercial movement of 3.443 billion dollars, 41 percent higher than in the same months of 2021.
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The CFZ added that imports reached 1 billion 771 million dollars and re-exports reached 1.77 billion dollars, which means that the bad moment caused by Covid-19 in 2020 has been left behind.

Sales of electronics, pharmaceuticals, chemicals, perfumery and cosmetics, general clothing, base metals and alcoholic beverages remain among the main drivers of growth in the world’s second largest free trade zone.

The current cargo volume, according to the CFZ report, also exceeded what was reported even three years ago before the pandemic.

As of last February, 305,000 metric tons were mobilized, a positive difference of 9.7 percent and 24 percent, compared to 2019 and 2021, respectively.

China continues to be the main supplier to the Canal Free Zone, with 63 percent of imports, followed by the European Union (5.1 percent), the United States (4.9 percent), the United Kingdom (2.6 percent) and Mexico(2.5 percent).

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