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.

GDP (purchasing power parity):

$34.81 billion (2007 est.)

GDP (official exchange rate):

$19.74 billion (2007 est.)

GDP - real growth rate:

11.2% (2007 est.)

GDP - per capita (PPP):

$10,700 (2007 est.)

GDP - composition by sector:

agriculture: 6.6%
industry: 16.4%
services: 77% (2007 est.)

Labor force:

1.362 million
note: shortage of skilled labor, but an oversupply of unskilled
labor (2007 est.)

Labor force - by occupation:

agriculture: 15%
industry: 18%
services: 67% (2006)

Unemployment rate:

6.4% (2007 est.)

Population below poverty line:

37% (1999 est.)

Household income or consumption by percentage share:

lowest 10%: 0.7%
highest 10%: 43% (2003)

Distribution of family income - Gini index:

56.1 (2003)

Investment (gross fixed):

20.2% of GDP (2007 est.)

Budget:

revenues: $5.505 billion
expenditures: $4.822 billion (2007 est.)

Fiscal year:

calendar year

Public debt:

53% of GDP (2007 est.)

Inflation rate (consumer prices):

4.2% (2007 est.)

Commercial bank prime lending rate:

8.25% (31 December 2007)

Stock of money:

$3.054 billion (31 December 2007)

Stock of quasi money:

$14.26 billion (31 December 2007)

Stock of domestic credit:

$17.4 billion (31 December 2007)

Agriculture - products:

bananas, rice, corn, coffee, sugarcane, vegetables; livestock; shrimp

Industries:

construction, brewing, cement and other construction materials,
sugar milling

Industrial production growth rate:

10.5% (2007 est.)

Electricity - production:

5.805 billion kWh (2006 est.)

Electricity - consumption:

4.768 billion kWh (2006 est.)

Electricity - exports:

124.9 million kWh (2007 est.)

Electricity - imports:

8.74 million kWh (2007 est.)

Electricity - production by source:

fossil fuel: 37%
hydro: 61.3%
nuclear: 0%
other: 1.7% (2001)

Oil - production:

0 bbl/day (2007 est.)

Oil - consumption:

92,790 bbl/day (2006 est.)

Oil - exports:

4,447 bbl/day (2005)

Oil - imports:

88,790 bbl/day (2005)