Central America and the Caribbean > Panama > Economy

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Agriculture > products bananas, rice, corn, coffee, sugarcane, vegetables; livestock; shrimp
Aid as % of GDP	0.2%		[116th of 129]
Source: CIA World Factbook, 28 July 2005
Debt > External	$10,450,000,000.00		[75th of 136]
Source: calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC
Distribution of family income > Gini index	56.1		[5th of 43]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Economic freedom	2.35		[47th of 156]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Economy > Overview Panama's dollarized economy rests primarily on a well-developed services sector that accounts for two-thirds of GDP. Services include operating the Panama Canal, 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 should be completed by 2014 at a cost of $5.3 billion (about 30% of current GDP). The expansion project will more than double the Canal's capacity, enabling it to accommodate ships that are now too large to transverse the transoceanic crossway and should help to reduce the high unemployment rate. The government has implemented tax reforms, as well as social security reforms, and backs regional trade agreements and development of tourism. Not a CAFTA signatory, Panama in December 2006 independently negotiated a free trade agreement with the US, which, when implemented, will help promote the country's economic growth.
Source: The Heritage Foundation
Exports	$9,312,000,000.00		[80th of 189]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
GDP	$17,097,100,000.00		[84th of 203]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
GDP > PPP	$22,235,000,000.00		[97th of 163]
Source: World Development Indicators database and CIA World Factbook
GDP > Real growth rate	11.2%		[11th of 198]
Source: World Bank. 2005. World Development Indicators 2005.
GINI index	56.08		[4th of 40]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Gross National Income	$9,455,180,000.00		[78th of 172]
Source: World Development Indicators database
Human Development Index	0.804		[56th of 178]
Income category	Upper middle income
Source: Human Development Report 2006, United Nations Development Programme
Income distribution > Richest 10%	35.6%		[30th of 114]
Source:
Population below poverty line	37%		[5th of 46]
Source: World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC
Poverty > Share of all poor people	0.04 % of world's poor		[56th of 80]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Public debt	53 % of GDP		[34th of 121]
Source: Country Responsibilities in Achieving the Millenium Development Goals", April 8 2003, by Janice Poling
Technological achievement	0.32		[38th of 68]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Tourist arrivals	402,000		[73rd of 152]
Source: United Nations Development Program. Human Development Report 2001. New York: Oxford University Press,2001, Table A2.1. via ciesin.org

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