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ECON FACTBOOK

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Economy of Panama

Population: 3.9 million in 20131

GDP: $43 billion in 20132

GDP per capita: $11,037 nominal3 ($19,411 PPP4) in 2013

GDP growth rate: 8.4% in 20135

Industries

GDP by Industry 20126

Industry sectorValue added ($ millions) 2012Percent of total
Other activities12,28341.2%
Wholesale, retail trade, restaurants and hotels5,91419.8%
Transport, storage and communication5,63818.9%
Construction2,1847.3%
Manufacturing1,5295.1%
Mining and utilities1,1804.0%
Agriculture, hunting, forestry, fishing1,0893.7%
Total value added29,816100%

Employment

Unemployment rate: 4.1% in 20137

Employment by Industry 8

Employment sectorPercent of total
Services64%
Industry19%
Agriculture17%
Total100%

Corporations

Top 10 Corporations by Revenue 20139

N/A

Households

Household Wealth: $53 billion (123% of GDP) in 201410

Household Wealth per Adult: $22,397 in 201410

Gini Coefficient: .519 in 201311

Government

Central Government

Central Government Revenue: $10.3 billion (24% of GDP) in 201312

Central Government Expenditure: $11.4 billion (27% of GDP) in 201312

Central Government Budget Balance: -$1.1 billion (-3% of GDP) in 201312

Central Government Public Debt: $18.3 billion (43% of GDP) in Dec 201413

Central Government 10 Year Bond Interest Rate: 4.08% in Sept 201414

Government Funds

Fondo de Ahorro de Panama: $1.4 billion in 201415

Tax Structure

Individual Income Tax Rates and Thresholds in 201316

Corporate Tax Rate: 25% in 201417

Monetary Policy

Money Supply (M0): N/A

Benchmark Interest Rate: N/A

Total Reserves: $2.0 billion (5% of GDP) in 201318

Exchange Rate: 1 Panamanian Balboa = 1 U.S. Dollar on Feb 6, 201519

Inflation: 4.0% in 201320

Financial Institutions

Top 10 Financial Institutions by Assets 201321

N/A (data not available at Relbanks.com)

International Accounts

Exports: $18.9 billion (44% of GDP) in 201322

Imports: $26.6 billion (62% of GDP) in 201322

Trade Balance: -$7.7 billion (-18% of GDP) in 201322

Foreign Direct Investment Inflow: $5.1 billion (12% of GDP) in 201323

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: $50 million (0.1% of GDP) in 201224

Foreign Aid Outflow: N/A

References

1. Source: World Bank Indicators (Population) Go back
2. Source: World Bank Indicators (GDP) Go back
3. Source: World Bank Indicators (GDP per capita) Go back
4. Source: World Bank Indicators (GDP per capita PPP) Go back
5. Source: World Bank Indicators (GDP growth rate) Go back
6. Source: United Nations Statistics Division (GDP by industry) Go back
7. Source: World Bank Indicators (Unemployment rate) Go back
8. Source: CIA World Factbook (Employment by economic activity) Go back
9. Source: Annual reports (Corporate data) Go back
10. Source: Credit Suisse Global Wealth Databook (Household wealth) Go back
11. Source: World Bank Indicators (Gini coefficient) Go back
12. Source: CIA World Factbook (Government budget) Go back
13. Source: Panama Ministerio de Economia y Finanzas, Information, Public Debt (Public debt) Go back
14. Source: Reuters (Government bond yield) Go back
15. Source: ESADE Sovereign Wealth Funds (Government Funds) Go back
16. Source: PKF Tax Guide (Individual tax rates) Go back
17. Source: Tax Foundation (Corporate tax rate) Go back
18. Source: World Bank Indicators (Total reserves) Go back
19. Source: xe.com (Exchange rate) Go back
20. Source: World Bank Indicators (Inflation rate) Go back
21. Source: Relbanks.com (Financial institutions by assets) Go back
22. Source: CIA World Factbook (Trade data) Go back
23. Source: World Bank Indicators (FDI data) Go back
24. Source: World Bank Indicators (Aid data) Go back