Economy - overview:
Panama's dollar-based economy rests primarily on a well-developed services sector that accounts for three-quarters of GDP. Services include operating the Panama Canal, logistics, banking, the Colon Free Zone, insurance, container ports, flagship registry, and tourism. Economic growth will be bolstered by the Panama Canal expansion project that began in 2007 and is scheduled to be completed by 2014 at a cost of $5.3 billion - about 10% of current GDP. The expansion project will more than double the Canal's capacity, enabling it to accommodate ships that are too large to traverse the existing canal. The United States and China are the top users of the Canal. Panama also plans to construct a metro system in Panama City, valued at $1.2 billion and scheduled to be completed by 2014. Panama's booming transportation and logistics services sectors, along with aggressive infrastructure development projects, have lead the economy to continued growth in 2011. Strong economic performance has not translated into broadly shared prosperity, as Panama has the second worst income distribution in Latin America. About 30% of the population lives in poverty; however, from 2006 to 2010 poverty was reduced by 10 percentage points, while unemployment dropped from 12% to less than 3% of the labor force in 2011. A US-Panama Trade Promotion Agreement was approved by Congress and signed into law in October 2011. Seeking removal from the Organization of Economic Development's gray-list of tax havens, Panama has also recently signed various double taxation treaties with other nations.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Panama on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Panama Economy 2012 information contained here. All suggestions for corrections of any errors about Panama Economy 2012 should be addressed to the CIA.
$48.76 billion (2011 est.)
country comparison to the world: 93
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$30.2 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
7.4% (2011 est.)
country comparison to the world: 14
[see also: GDP - real growth rate country ranks ]
$13,600 (2011 est.)
country comparison to the world: 88
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 4.3%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 16.6%
[see also: GDP - composition by sector - industry country ranks ]
services: 79.1% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
1.525 million
country comparison to the world: 127
note: shortage of skilled labor, but an oversupply of unskilled labor (2011 est.)
[see also: Labor force country ranks ]
agriculture: 17.6%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 8.8%
[see also: Labor force - by occupation - industry country ranks ]
services: 73.6% (2009 est.)
[see also: Labor force - by occupation - services country ranks ]
2.7% (2011 est.)
country comparison to the world: 22
[see also: Unemployment rate country ranks ]
25.6% (2010 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 1.3%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 40.6% (2009)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
51 (2010 est.)
country comparison to the world: 19
[see also: Distribution of family income - Gini index country ranks ]
29.1% of GDP (2011 est.)
country comparison to the world: 37
[see also: Investment (gross fixed) country ranks ]
revenues: $8 billion
[see also: Budget revenues country ranks ]
expenditures: $8.662 billion (2011 est.)
[see also: Budget expenditures country ranks ]
26.5% of GDP (2011 est.)
country comparison to the world: 114
[see also: Taxes and other revenues country ranks ]
-2.2% of GDP (2011 est.)
country comparison to the world: 85
[see also: Budget surplus (+) or deficit (-) country ranks ]
41.7% of GDP (2011 est.)
country comparison to the world: 73
[see also: Public debt country ranks ]
5.9% (2011 est.)
country comparison to the world: 134
[see also: Inflation rate (consumer prices) country ranks ]
6.8% (31 December 2011 est.)
country comparison to the world: 127
[see also: Commercial bank prime lending rate country ranks ]
$6.328 billion (31 December 2011 est.)
country comparison to the world: 88
[see also: Stock of narrow money country ranks ]
$26.65 billion (31 December 2011 est.)
country comparison to the world: 80
[see also: Stock of broad money country ranks ]
$27.02 billion (31 December 2011 est.)
country comparison to the world: 73
[see also: Stock of domestic credit country ranks ]
$10.92 billion (31 December 2010)
country comparison to the world: 72
[see also: Market value of publicly traded shares country ranks ]
bananas, rice, corn, coffee, sugarcane, vegetables; livestock; shrimp
construction, brewing, cement and other construction materials, sugar milling
8% (2011 est.)
country comparison to the world: 22
[see also: Industrial production growth rate country ranks ]
6.546 billion kWh (2010 est.)
country comparison to the world: 105
[see also: Electricity - production country ranks ]
5.805 billion kWh (2010 est.)
country comparison to the world: 109
[see also: Electricity - consumption country ranks ]
95 million kWh (2009 est.)
[see also: Electricity - exports country ranks ]
73 million kWh (2008 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2010 est.)
country comparison to the world: 211
[see also: Oil - production country ranks ]
97,000 bbl/day (2010 est.)
country comparison to the world: 79
[see also: Oil - consumption country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 202
[see also: Oil - exports country ranks ]
77,910 bbl/day (2009 est.)
country comparison to the world: 78
[see also: Oil - imports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 113
[see also: Natural gas - production country ranks ]
0 cu m (2009 est.)
country comparison to the world: 120
[see also: Natural gas - consumption country ranks ]
0 cu m (2009 est.)
country comparison to the world: 161
[see also: Natural gas - exports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 114
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2011 est.)
country comparison to the world: 180
[see also: Natural gas - proved reserves country ranks ]
-$3.874 billion (2011 est.)
country comparison to the world: 168
[see also: Current account balance country ranks ]
$13.22 billion (2011 est.)
country comparison to the world: 83
note: includes the Colon Free Zone
[see also: Exports country ranks ]
bananas, shrimp, sugar, coffee, clothing
Venezuela 20.6%, South Korea 18.2%, Ecuador 6.3%, India 6.2%, Japan 5.6%, Greece 5.3%, US 5.3% (2010)
$19.15 billion (2011 est.)
country comparison to the world: 76
note: includes the Colon Free Zone
[see also: Imports country ranks ]
capital goods, foodstuffs, consumer goods, chemicals
Japan 25.3%, China 19.6%, Singapore 12.3%, US 10%, South Korea 9.3%, Ecuador 4.1% (2010)
$3.015 billion (31 December 2011 est.)
country comparison to the world: 105
[see also: Reserves of foreign exchange and gold country ranks ]
$14.24 billion (31 December 2011 est.)
country comparison to the world: 84
[see also: Debt - external country ranks ]
$NA
[see also: Stock of direct foreign investment - at home country ranks ]
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]
balboas (PAB) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12