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Friday, January 4, 2008

Life in Panama

The combination of incredible natural beauty, pleasant moderate climates as well as access to international markets and the quality and low cost of the labor force, make Panama an ideal place to live. You can drive from a modern, bustling urban environment to a rain forest teeming with animal and plant life in as little as an hour.

Stats:

Full country name: Republic of Panama
Area: 78,000 sq km (30,420 sq mi)
Population: 3 million (July 2005) (growth rate 1.3%)
Capital city: Panama City (pop 700,000)
People:
70% mestizo (mixed Amerindian and white)
14% Amerindian and mixed (West Indian)
10% White
6% Amerindian
Language:
Spanish
English
Indian languages
Religion:
85% Roman Catholic
10% Protestant
5% Islamic
Government: Constitutional republic
President: Martin Torrijos
GDP: US$8.8 billion
GDP per head: US$3200
Annual growth: 4.1%
Inflation: 1.1%
Exports: $5.699 billion f.o.b. (includes the Colon Free Zone) (2004 est.)
Exports - commodities: bananas, shrimp, sugar, coffee, clothing (1999)
Exports - partners: US 50.5%, Sweden 6.6%, Spain 5.1%, Netherlands 4.4%, Costa Rica 4.2% (2004)
Imports: $7.164 billion f.o.b. (includes the Colon Free Zone) (2004 est.)
Imports - commodities: capital goods, foodstuffs, consumer goods, chemicals
Imports - partners: US 33.3%, Netherlands Antilles 8.1%, Japan 6%, Costa Rica 5.7%, Mexico 4.6%, Colombia 4.2% (2004)

Panama's Economy

Three-fourths of Panama's GDP relies on an economy based primarily on well-developed services sector. Services include the Panama Canal, banking, the Colon Free Zone, insurance, container ports, flagship registry, and tourism. Panama's economy has positive and sustained growth due to economic stability in the last few years, including an inflation level that is among the lowest in the world, and a per capita income that is among the highest in Latin America.

During the last 15 years, income from international tourism in the Republic of Panama has grown 1.5 times faster than the national GDP, and there is no indication that it will decrease. For the year 2005, tourism has contributed between 15% and 20% to the national economy. Panama has 1,398 tourist attractions of which 70%, are natural sites and 30% are cultural and historical sites.

For more information, please visit:
http://www.panamaexpertos.com

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