, WMO, WToO, WTO

Diplomatic representation in the US:
chief of mission: Ambassador Federico HUMBERT Arias
chancery: 2862 McGill Terrace NW, Washington, DC 20008
telephone: [1] (202) 483-1407
FAX: [1] (202) 483-8416
consulate(s) general: Atlanta, Houston, Miami, New Orleans, New
York, Philadelphia, San Francisco, San Juan (Puerto Rico), Tampa

Diplomatic representation from the US:
chief of mission: Ambassador Linda Ellen WATT
embassy: Avenida Balboa and Calle 37, Apartado Postal 0816-02561,
Zona 5, Panama City 5
mailing address: American Embassy Panama, Unit 0945, APO AA 34002
telephone: [507] 207-7000
FAX: [507] 227-1964

Flag description:
divided into four, equal rectangles; the top quadrants are white
(hoist side) with a blue five-pointed star in the center and plain
red; the bottom quadrants are plain blue (hoist side) and white with
a red five-pointed star in the center

Economy Panama

Economy - overview:
Panama's dollarised economy rests primarily on a well-developed
services sector that accounts for four-fifths of GDP. Services
include operating the Panama Canal, banking, the Colon Free Zone,
insurance, container ports, flagship registry, and tourism. A slump
in Colon Free Zone and agricultural exports, the global slowdown,
and the withdrawal of US military forces held back economic growth
in 2000-03; growth picked up in 2004 led by export-oriented services
and a construction boom stimulated by tax incentives. The government
has been backing tax reforms, reform of the social security program,
new regional trade agreements, and development of tourism.
Unemployment remains high.

GDP (purchasing power parity):
$20.57 billion (2004 est.)

GDP - real growth rate:
6% (2004 est.)

GDP - per capita:
purchasing power parity - $6,900 (2004 est.)

GDP - composition by sector:
agriculture: 7.2%
industry: 13%
services: 79.8% (2004 est.)

Labor force:
1.32 million
note: shortage of skilled labor, but an oversupply of unskilled
labor (2004 est.)

Labor force - by occupation:
agriculture 20.8%, industry 18%, services 61.2% (1995 est.)

Unemployment rate:
12.6% (2004 est.)

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):