ts are plain blue (hoist side) and white with a red five-pointed star
in the center

:Panama Economy

Overview:
GDP expanded by roughly 9.3% in 1991, following growth of 4.6% in 1990 and a
0.4% contraction in 1989. Delay in coming to terms with the international
financial institutions on policies to implement structural reform in Panama
generated uncertainty in the private sector and tempered the pace of
business expansion in 1991. Public investment was limited as the
administration kept the fiscal deficit below 3% of GDP. Unemployment and
economic reform are the two major issues the government must face in
1992-93.
GDP:
exchange rate conversion - $5.0 billion, per capita $2,040; real growth rate
9.3% (1991 est.)
Inflation rate (consumer prices):
2.0% (1991 est.)
Unemployment rate:
17% (1991 est.)
Budget:
revenues $1.5 billion; expenditures $1.7 billion, including capital
expenditures of $140 million (1991 est.)
Exports:
$380 million (f.o.b., 1991 est.)
commodities:
bananas 28%, shrimp 14%, sugar 12%, clothing 5%, coffee 4%
partners:
US 44%, Central America and Caribbean, EC (1991 est.)
Imports:
$1.5 billion (f.o.b., 1991 est.)
commodities:
capital goods 13%, crude oil 12%, foodstuffs 10%, consumer goods, chemicals
(1990)
partners:
US 37%, Japan, EC, Central America and Caribbean, Mexico, Venezuela (1989
est.)
External debt:
$5.4 billion (December 1991 est.)
Industrial production:
growth rate 7.2% (1991 est.); accounts for almost 9.4% of GDP
Electricity:
1,135,000 kW capacity; 3,397 million kWh produced, 1,372 kWh per capita
(1991)
Industries:
manufacturing and construction activities, petroleum refining, brewing,
cement and other construction material, sugar mills
Agriculture:
accounts for 12% of GDP (1991 est.), 25% of labor force (1989); crops -
bananas, rice, corn, coffee, sugarcane; livestock; fishing; importer of food
grain, vegetables
Economic aid:
US commitments, including Ex-Im (FY70-89), $516 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $582 million;
Communist countries (1970-89), $4 million
Currency:
balboa (plural - balboas); 1 balboa (B) = 100 centesimos
Exchange rates:
balboas (B) per US$1 - 1.000 (fixed rate)
Fiscal year:
calendar year

:Panama Communications

Railroads:
238 km t