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Panama's dollarized economy rests primarily on a well-developed services sector that accounts for 80% of GDP. Services include operating the Panama Canal, banking, the Colon Free Zone, insurance, container ports, flagship registry, and tourism. Economic growth will be bolstered by the Panama Canal expansion project that began in 2007 and is scheduled to be completed by 2014 at a cost of $5.3 billion - about 25% of current GDP. The expansion project will more than double the Canal's capacity, enabling it to accommodate ships that are now too large to transverse the transoceanic crossway, and should help to reduce ...  More..

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Economy of Panama
SOURCE: CIA - The World Factbook
Currency Balboa, Us Dollar
Fiscal Year 01 January - 31 December
GDP (PPP) $40.32 billion (2009 est.)
GDP (per capita) $11,900 (2009 est.)
Exports $11.41 billion (2009 est.)
Imports $13.62 billion (2009 est.)
Main Industries Construction, Brewing, Cement and Other Construction Materials, Sugar Milling
Exports - Commodities Bananas, Shrimp, Sugar, Coffee, Clothing
Imports - Commodities Capital Goods, Foodstuffs, Consumer Goods, Chemicals
Exports Partners US 39.2%, Netherlands 10.7%, Costa Rica 5.8%, Sweden 5.4%, UK 5.4%, Spain 5%, Taiwan 4.3%, China 4.1% (2008)
Imports Partners US 29.6%, Costa Rica 5%, China 5%, Japan 4.2% (2008)

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