Surplus in Panamanian services rose 14.4% in first quarter

The surplus in services of Panama totaled $1,054 million during the first quarter, approximately $133.1 million, or 14.4% more than that recorded in the same period a year earlier, said the Bureau of Economic and Social Analysis of the Ministry of Economy and Finance. This increase is mainly due to income from services provided to tourists and from the ports. The study emphasizes that exports totaled $1,895 million ($163.5 million more), noting that income was from tourism-related activities ($584.2 million), Panama Canal operations ($562.2 million), air transportation ($264.7 million) and ports ($179.9 million), the institution said in a news release. In addition, imports totaled $840.9 million (a $30.4 million increase) and the other main items were freight for merchandise imported ($347.6 million) and travel abroad by residents ($128 million).