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Panama Economy
GDP:
purchasing power parity - $18.78 billion (2003 est.)
GDP - real growth rate:
4.1% (2003 est.)
GDP - per capita:
purchasing power parity - $6,300 (2003 est.)
GDP - composition by sector:
agriculture: 8.3%
industry: 14.7%
services: 77.1% (2003 est.)
Investment (gross fixed):
24.8% of GDP (2003)
Population below poverty line:
37% (1999 est.)
Household income or consumption by percentage share:
lowest 10%: 1.2%
highest 10%: 35.7% (1997)
Distribution of family income - Gini index:
48.5 (1997)
Inflation rate (consumer prices):
1.4% (2003 est.)
Labor force:
1.19 million
note: shortage of skilled labor, but an oversupply of unskilled labor (2003 est.)
Labor force - by occupation:
agriculture 20.8%, industry 18%, services 61.2% (1995 est.)
Unemployment rate:
13.8% (2003 est.)
Budget:
revenues: $2.995 billion
expenditures: $3.421 billion, including capital expenditures of $471 million (2003 est.)
Public debt:
73.3% of GDP (2003)
Industries:
construction, petroleum refining, brewing, cement and other construction materials, sugar milling
Industrial production growth rate:
7% (2003 est.)
Electricity - production:
4.039 billion kWh (2001)
Electricity - production by source:
fossil fuel: 37%
hydro: 61.3%
other: 1.7% (2001)
nuclear: 0%
Electricity - consumption:
3.681 billion kWh (2001)
Electricity - exports:
118 million kWh (2001)
Electricity - imports:
43 million kWh (2001)
Oil - production:
0 bbl/day (2001 est.)
Oil - consumption:
52,000 bbl/day (2001 est.)
Oil - exports:
NA (2001)
Oil - imports:
NA (2001)
Agriculture - products:
bananas, rice, corn, coffee, sugarcane, vegetables; livestock; shrimp
Current account balance:
$-408 million (2003)
Exports:
$5.237 billion f.o.b. (2003 est.)
Exports - commodities:
bananas, shrimp, sugar, coffee, clothing (1999)
Exports - partners:
US 19.8%, Germany 11.5%, Peru 7.2%, Belgium 6.7%, Japan 6.3%, Italy 4.2% (2003 est.)
Imports:
$6.622 billion f.o.b. (2003 est.)
Imports - commodities:
capital goods, crude oil, foodstuffs, consumer goods, chemicals (1999)
Imports - partners:
Japan 37.4%, US 12.8%, China 10.3%, Singapore 8%, Italy 4.3% (2003 est.)
Reserves of foreign exchange & gold:
$1.011 billion (2003)
Debt - external:
$8.834 billion (2003 est.)
Economic aid - recipient:
$197.1 million (1995)
Currency:
balboa (PAB); US dollar (USD)
Currency code:
PAB; USD
Exchange rates:
balboas per US dollar - 1 (2003), 1 (2002), 1 (2001), 1 (2000), 1 (1999)
Fiscal year:
calendar year
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