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Panama Economy 1995 https://theodora.com/wfb/1995/panama/panama_economy.html SOURCE: 1995 CIA WORLD FACTBOOK Overview: GDP expanded by roughly 5.9% in 1993, following growth of 8% in 1992; banking and financial services led the way in 1993. The economy thus continues to recover from the crisis that preceded the ouster of Manuel NORIEGA, even though the government's structural adjustment program has been hampered by a lack of popular support and a passive administration. Public investment has been limited as the administration has kept the fiscal deficit below 2% of GDP. Unemployment and economic reform are the two major issues the new government must face in 1994-95. National product: GDP - purchasing power equivalent - $11.6 billion (1993 est.) National product real growth rate: 5.9% (1993 est.) National product per capita: $4,500 (1993 est.) Inflation rate (consumer prices): 1% (1993 est.) Unemployment rate: 12.5% (1993 est.) Budget:
Exports:
$545 million (f.o.b., 1993 est.)
Imports:
$2.5 billion (f.o.b., 1993 est.)
External debt: $6.1 billion (year-end 1993 est.) Industrial production: growth rate 7% (1993 est.); accounts for about 9% of GDP Electricity:
Industries: manufacturing and construction activities, petroleum refining, brewing, cement and other construction material, sugar milling Agriculture: accounts for 10% of GDP (1992 est.), 27% of labor force (1992); crops - bananas, rice, corn, coffee, sugarcane; livestock; fishing; importer of food grain, vegetables Illicit drugs: major cocaine transshipment point and drug money laundering center Economic aid:
Currency:
1 balboa (B) = 100 centesimos
Fiscal year:
calendar year
NOTE: The information regarding Panama on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Panama Economy 1995 information contained here. All suggestions for corrections of any errors about Panama Economy 1995 should be addressed to the CIA. |