- Economy of Panama
width = 200px
caption = Bridge of the Americas during summer.
Panamanian balboa(PAB, B/.)US dollar is legal tender in Panama]
year = Calendar year
organs = SICA
rank = 90th
gdp = B/.31 billion (2007) [All values are in Balboas due to the US dollar haviong the same value.]
growth = 8.1% (2007)
per capita = B/.9.000 (2007)
sectors = agriculture: 20% industry: 14% services: 66% (2003 est.)
inflation = 1.1% (2007)
poverty = 20% (2006 est.)
gini = 56.7 (2005)
labor = 1.439 million (2004 est.)
occupations = Agriculture: 20.8%, industry: 18%, services: 61.2%
unemployment = 7.2% (2006)
industries = construction, brewing, real state, automobile industry, aircraft, cement, petrochemicals refining, livestock, textiles and apparel, aluminium materials, mining, coal, gold, sugar milling, copper, salt extraction, shipbuilding, tourism, etc.
debt = N/A
aid = N/A
cianame = pm
spelling = Spanish
Because of its key geographic location, the economy of
Panamahas a mixed-western economy mainly based on the services industry, heavily weighted toward banking, commerce, and tourism. The hand-over of the canal and military installations by the US has given rise to new construction projects.
Panama's economy is based primarily on a well-developed services sector that accounts for nearly 80% of its GDP. Services include the
Panama Canal, banking, the Colón Free Trade Zone, insurance, container ports, and flagship registry, medical and health, and other business. While the country's industry includes, manufacturing of aircraft spare parts, cements, drinks, adhesives, automobiles, textiles and more recently, handmade artisan creation of Bush planes.
GDP growth for 2000 was about 2.3% compared to 3.0% in 1999. Panama has the second GDP per capita in Central America and the poverty rate was estimated to have been 20% in 2006, a level which only Costa Rica gets to be lower. [ [http://www.antena-sin.com/NoticiasSin/Details.asp?id_article=782 Noticias SIN : Panamá en camino de reducir pobreza extrema pese a desigualdades ] ] The unemployment rate stands at 7.2%. [https://www.cia.gov/library/publications/the-world-factbook/geos/pm.html#Econ]
Panama Government and UN Stats
Nominal GDPin Panama was (in million of balboa or US dollar) 11,691 in 2002, 13,099 in 2004, 14,004 in 2005 (Prelim), 15,141.9 in 2006 (est), as reported by Office of Statistics and Census, Government of Panama. [http://www.contraloria.gob.pa/dec/Publicaciones/16-17/Cuadro1.pdf] Growth from 2002 to 2006 has been especially strong in the transport and communications sector, which has become the biggest component of GDP, although many sectors have seen strong growth. Real GDP has risen 7.5% (03-04), 6.9% (04-05), 8.1% (05-06). [ [http://www.contraloria.gob.pa/dec/ Dirección de Estadística y Censo - Panamá ] ] by United Nations Economic Commission for Latin America and the Caribbean(ECLAC) forecast 8.5% for 2006-07, and 7.5% for 2007-08, both years being the highest for all of Latin America. [ [http://www.dominicantoday.com/app/article.aspx?id=24938 Dominican Economy: GDP winner - DominicanToday.com ] ]
Wikimedia Foundation. 2010.
Look at other dictionaries:
Panama — Panamanian /pan euh may nee euhn, mah /, adj., n. Panamic /pa nam ik/, adj. /pan euh mah , maw /, n. 1. a republic in S Central America. 2,693,417; 28,575 sq. mi. (74,010 sq. km). 2. Also called Panama City. a city in and the capital of Panama,… … Universalium
Panama — This article is about the country. For other uses, see Panama (disambiguation). Republic of Panama República de Panamá (Spanish) … Wikipedia
Panama — <p></p> <p></p> Introduction ::Panama <p></p> Background: <p></p> Explored and settled by the Spanish in the 16th century, Panama broke with Spain in 1821 and joined a union of Colombia, Ecuador,… … The World Factbook
Economy of Colombia — Tourism in Riohacha, the capital of La Guajira Currency Colombian peso Fiscal year … Wikipedia
Economy of North America — During 2003 unless otherwise stated Population 528,720,588 (8%) GDP PPP: US$16.981 trillion (2009) GDP growth Per capita: 1.84% (1990–2002) GDP per capita Currency: US$24 … Wikipedia
Economy of Cuba — Flag Rank 89th Currency Cuban peso (CUP) = 100 centavos and Cuban Convertible Peso (CUC) = 24 CUP … Wikipedia
Economy of Mexico — Going clockwise and starting from the upper left image: Port of Veracruz, Puerta de Hierro in Guadalajara Business District, Mastretta MXT automobile by Mexican automaker Mastretta, Pemex Oil platform in the … Wikipedia
Economy of Costa Rica — Currency Costa Rican colón Fiscal year Leep Year Trade organisations CAFTA Statistics GDP … Wikipedia
Economy of Morocco — 100 Moroccan dirham Rank 54th Currency Moroccan Dirham (MAD) … Wikipedia
Economy of Malaysia — Fixed exchange rates 1 Ringgit = 100 sen Fiscal year Calendar year … Wikipedia