l 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 economy is based primarily on a
well-developed services sector that accounts for three-fourths of
GDP. Services include 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
2000-01. The government plans public works programs, tax reforms, and
new regional trade agreements in order to stimulate growth.

GDP: purchasing power parity - $16.9 billion (2001 est.)

GDP - real growth rate: 1.4% (2001 est.)

GDP - per capita: purchasing power parity - $5,900 (2001 est.)

GDP - composition by sector: agriculture: 7% industry: 17% services: 76%
(2000 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): 1% (2000 est.)

Labor force: 1.1 million (2000 est.) note: shortage of skilled labor,
but an oversupply of unskilled labor

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

Unemployment rate: 13% (2000 est.)

Budget: revenues: $1.9 billion expenditures: $2 billion, including
capital expenditures of $471 million (2000 est.)

Industries: construction, petroleum refining, brewing, cement and other
construction materials, sugar milling

Industrial production growth rate: 2% (2000 est.)

Electricity - production: 4.894 billion kWh (2000)

Electricity - production by source: fossil fuel: 29.49% hydro: 69.11%
other: 1.4% (2000) nuclear: 0%

Electricity - consumption: 4.651 billion kWh (2000)

Electricity - exports: 20 million kWh (2000)

Electricity - imports: 120 million kWh (2000)

Agriculture - products: bananas, rice, corn, coffee, sugarcane,
vegetables; livestock; shrimp

Exports: $5.9 billion (f.o.b., 2001 est.)

Exports - commodities: bananas, shrimp, sugar, coffee, clothing

Exports - partners: US 45.9%, Sweden 8.1%, Benelux 5.3%, Costa Rica 5.1%
(2000 est.)

Imports: $6.7 billion (f.o.b., 200