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e-mail: lyamasaki@bladex.com
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Currency exchange
07-Sep-2010

1 = 1US$


 




Asoc. Latinoamericana de Integración

Untitled Document

General Information

Total Population 3,500,000 (est.)
Area 75,990 km2
Local Currency Balboa (PAB)
Literacy 92.6%
Economically active population 1,526,000
as % of total population 43.6%
Unemployment rate 6.5% (urban areas - CEPAL statistic 2008)
   
Gross Domestic Product (GDP) 24,602 US$ millions
as % of Regional GDP 0.6% (Latin America GDP 2009 = US$ 3,928,300 millions)
GDP per Head 7,029 US$
Ranking in Latin America 8

Important dates
  • January 1 - New Year
  • January 9 - Martirs Day
  • Carnival Tuesday - Changes every year
  • Holy Friday - Changes every year
  • May 1 - Labor Day
  • November 3 - Independence from Colombia
  • November 4 - Flag Day
  • November 5 - First call of Independence of Colon
  • November 10 - First call for Independence of Los Santos
  • November 28 - Independence from Spain
  • December 8 - Mother's day
  • December 25 - Christmas
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Economic Statistics
(years 2006 - proj. 2010)
Panama has a Gross Domestic Product of US$24,602MM. This is distributed by sectors in the following way: agriculture with 6.4%, having as main products bananas, rice, corn, coffee; industry with 17.1%, having as main products construction, brewing, cement, sugar; and the services sector with 76.5%.
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National Accounts
National Accounts 2006 2007 2008 est. 2009 proj. 2010
▲% GDP 8.5% 12.1% 10.7% 2.4% 4.4%
Nominal GDP (US$ millions) 17,137 19,485 23,422 24,602 26,592
GDP per Head (US$) 5,193 5,905 6,889 7,029 7,598
GDP by Sector     100.0%    
Agriculture     6.4%    
Industry     17.1%    
Services     76.5%    
Inflation rate 2.2% 6.4% 6.8% 1.9% 4.5%
Budget Balance 0.5% 3.5% 0.4% -1.0% -1.4%

GPD Growth
 
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Trade Statistics
Regarding foreign trade, US represents its main commercial partner buying 39.2% of Panamanian exports, whereas the main export products are constituted by agricultural products.


Foreign Trade (2008) See other countries
Exports Imports
By countries By countries
US 39.2% US 29.6%
Netherlands 10.7% Costa Rica 5.0%
Costa Rica 5.8% China 5.0%
Sweden 5.5% Japan 4.2%
By products By products
Bananas 7.9% Capital goods 25.5%
Shrimp 3.3% Petroleum products 20.6%
Sugar 1.2% Food products 11.1%
Coffee 1.2%
 


Balance of Payments (US$ mill.) 2006 2007 2008 est. 2009 proj. 2010
Exchange rate: PAB / US$
(end of period)
1.00 1.00 1.00 1.00 1.00
Exports of goods 8,475 9,334 10,323 10,904 13,962
Imports of goods 10,190 12,524 14,869 12,931 17,240
Trade & Services Balance 558 -354 -1,341 1,245 494
% GDP 3.3% -1.8% -5.7% 5.1% 1.9%
Income Balance -1,258 -1,306 -1,574 -1,460 -1,617
% GDP -7.3% -6.7% -6.7% -5.9% -6.1%
Current Transfers Balance 253 253 238 210 239
% GDP 1.5% 1.3% 1.0% 0.9% 0.9%
Current Account Balance -447 -1,407 -2,677 -5 -884
% GDP
-2.6% -7.2% -11.4% 0.0% -3.3%
Net Direct Investments flows 2,557 1,777 2,402 1,773 2,100
% GDP 14.9% 9.1% 10.3% 7.2% 7.9%
Net Portfolio Investments flows -698 -1,562 -278 -1,851 97
% GDP -4.1% -8.0% -1.2% -7.5% 0.4%



 


 


2006 2007 2008 est. 2009 proj. 2010
Foreign Debt Stock 9,989 9,862 11,253 12,733 14,025
% GDP 58.3% 50.6% 48.0% 51.8% 52.7%
     
Foreign Debt Service 2,268 861 1,291 1,287 1,393
Principal repayments 1,474 181 550 526 582
Interest payments 794 680 741 761 811
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