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Home >> World Economy >>Panama Economy

Panama Economy

Economic Indicators Economic Structure Of Panama Export & Import Insurance Mortgage Stock
 



Panama is an upper middle-income country comes under the Latin America and Caribbean region, according to the classification made by the World Bank on the basis of income and region for the year 2006. The country has a total surface area of 75,520.0 thousand square kilometers as in 2004 with a total forest area of 43,070.0 square kilometers.


Panama Economy and Social Indicators:

The total population of the country as of the year 2004 has reached at 3.2 millions with an annual growth rate of 1.8. Its demographic and social indicators are as follows:

Social Indicators 2000 2003 2004
Population, total 2.9 million 3.1 million 3.2 million
Population growth (annual %) 1.9 1.8 1.8
Life expectancy at birth, total (years) 74.4 74.9 75.1
Fertility rate, total (births per woman) 2.7 2.7 2.6
Mortality rate, infant (per 1,000 live births) 20.0 .. 18.8
Mortality rate, under-5 (per 1,000) 25.5 .. 23.9


Economic Indicators of Panama Economy

Panama's services sector particularly its banking, finance and tourism is the major contributor to its economy. Important economic indicators are as follows:

Econmic Indicator 2000 2003 2004
GNI, Atlas method (current US$) 11.0 billion 12.2 billion 13.4 billion
GNI per capita, Atlas method (current US$) 3,740.0 3,900.0 4,210.0
GDP (current US$) 11.6 billion 12.9 billion 13.7 billion
GDP growth (annual %) 2.7 4.3 6.2
Inflation, GDP deflator (annual %) -1.2 0.5 0.5