Panama

According to the CIA World Factbook, Panama has an unemployment rate of 5.1%. According to the ECLAC, the poverty rate is 28.6% as of 2006 and is expected to decline to 11% by 2009, in spite of the Global financial crisis of 2008 – 2009. Also, an alimentary surplus was registered in August 2008, and infrastructure works are progressing rapidly. On the Human Development Index Panama is ranked at number 58 (2008). The International Monetary Fund has predicted that Panama will be the fastest growing economy in Latin America in 2009. It was the second fastest growing economy in Latin America in 2008, after Peru.

Demographic Data

Economic Data

Cultural & Other Data

GDP (PPP, $bn)

38.49

Capital

Panama City

Area (sq. km.)

78,200

GDP Real

Growth (%)

8.3

Other Large Cities

Colon, David

Population (million)

3.36

PerCap GDP ($)

11,600

Primary Language

Spanish

Population

Growth %

1.503

Prime Lending

Rate (%)

8.25

Urban

Population %

73

% Population

Under 15yrs

29.3

Inflation Rate%

10.6

Urban Growth %

2.7

Population below

poverty line (%)

37

Unemployment%

6.3

Literacy

(% of population)

91.9

Agricultural Workers

(% of population)

15

Foreign Direct

Investment($bn)

NA

Education spending

as % of GDP

3.8

Industrial Workers

(% of population)

18

Debt-External

($bn)

10.89

CPI Score

(1-10)*

3.4

Service Workers

(% of population)

67

Exports ($bn)

10.37

Corporate Income Tax %

30

Labor Force (mil)***

1.392

Imports ($bn)

15.18

Ease of Doing

Business Ranking **

81

CURRENCY EXCHANGE RATE

05/08/09 $1 = 1 PAB

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