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 William A. EATON
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 three-fourths of GDP. Services
include operating the Panama Canal, banking, the Colon Free Zone,
insurance, container ports, flagship registry, and tourism. A slump
in the 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 2004-06 led by
export-oriented services and a construction boom stimulated by tax
incentives. The government has implemented tax reforms, as well as
social security reforms, and backs regional trade agreements and
development of tourism. Unemployment remains high. In October 2006,
voters passed a referendum to expand the Panama Canal to accommodate
ships that are now too large to cross the transoceanic crossway. Not
a CAFTA signatory, Panama in December 2006 independently negotiated
a free trade agreement with the United States, which, when
implemented, will help promote the country's economic growth.

GDP (purchasing power parity):
$25.29 billion (2006 est.)

GDP (official exchange rate):
$16.2 billion (2006 est.)

GDP - real growth rate:
6.3% (2006 est.)

GDP - per capita (PPP):
$7,900 (2006 est.)

GDP - composition by sector:
agriculture: 7.2%
industry: 16.4%
services: 76.4% (2006 est.)

Labor force:
1.441 million
note: shortage of skilled labor, but an oversupply of unskilled
labor (2006 est.)

Labor force - by occupation:
agriculture: