Compare Panama (2008) - Panama (2007)

Compare Panama (2008) z Panama (2007)

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	Panama (2008)	Panama (2007)

Budget	revenues: $5.206 billion expenditures: $5.089 billion (2007 est.)	revenues: $4.283 billion expenditures: $4.195 billion (2006 est.)
Debt - external	$10.56 billion (31 December 2007 est.)	$9.972 billion (2006 est.)
Diplomatic representation from the US	chief of mission: Ambassador William A. EATON embassy: Edificio 783, Avenida Demetrio Basilio Lakas Panama, Apartado Postal 0816-02561, Zona 5, Panama City 5 mailing address: American Embassy Panama, Unit 0945, APO AA 34002 telephone: [507] 207-7000 FAX: [507] 227-1964	chief of mission: Ambassador William A. EATON embassy: Avenida Balboa and Calle 37, Apartado Postal 0816-02561, Zona 5, Panama City 5 mailing address: American Embassy Panama, Unit 0945, APO AA 34002 telephone: [507] 207-7000 FAX: [507] 227-1964
Economy - overview	Panama's dollarized economy rests primarily on a well-developed services sector that accounts for three-fourths 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 should be completed by 2014 at a cost of $5.3 billion (about 30% 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 the high unemployment rate. The government has implemented tax reforms, as well as social security reforms, and backs regional trade agreements and development of tourism. Not a CAFTA signatory, Panama in December 2006 independently negotiated a free trade agreement with the US, which, when implemented, will help promote the country's economic growth.	Panama's dollarized economy rests primarily on a well-developed services sector that accounts for three-fourths of GDP. Services include operating the Panama Canal, banking, the Colon Free Zone, insurance, container ports, flagship registry, and tourism. A slump in the Colon Free Zone and agricultural exports, the global slowdown, and the withdrawal of US military forces held back economic growth in 2000-03; growth picked up in 2004-06 led by export-oriented services and a construction boom stimulated by tax incentives. The government has implemented tax reforms, as well as social security reforms, and backs regional trade agreements and development of tourism. Unemployment remains high. In October 2006, voters passed a referendum to expand the Panama Canal to accommodate ships that are now too large to transverse the transoceanic crossway. Not a CAFTA signatory, Panama in December 2006 independently negotiated a free trade agreement with the US, which, when implemented, will help promote the country's economic growth.
Exchange rates	balboas per US dollar - 1 (2007), 1 (2006), 1 (2005), 1 (2004), 1 (2003)	balboas per US dollar - 1 (2006), 1 (2005), 1 (2004), 1 (2003), 1 (2002)
Exports	4,140 bbl/day (2004)	NA bbl/day
GDP - composition by sector	agriculture: 6.8% industry: 16.2% services: 77% (2007 est.)	agriculture: 7.3% industry: 16.5% services: 76.3% (2006 est.)
GDP - real growth rate	7.8% (2007 est.)	8.1% (2006 est.)
Imports	92,170 bbl/day (2004)	NA bbl/day
Industrial production growth rate	7.8% (2007 est.)	3% (2006 est.)
Inflation rate (consumer prices)	5.1% (2007 est.)	1.1% (2006 est.)
International organization participation	BCIE, CAN (observer), CSN (observer), FAO, G-77, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, LAES, LAIA (observer), MIGA, NAM, OAS, OPANAL, OPCW, PCA, RG, UN, UN Security Council (temporary), UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO	CAN (observer), CSN (observer), FAO, G-77, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, LAES, LAIA (observer), MIGA, NAM, OAS, OPANAL, OPCW, PCA, RG, UN, UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO
Labor force	1.471 million note: shortage of skilled labor, but an oversupply of unskilled labor (2007 est.)	1.439 million note: shortage of skilled labor, but an oversupply of unskilled labor (2006 est.)
Labor force - by occupation	agriculture: 15% industry: 18% services: 67% (2006 est.)	agriculture: 20.8% industry: 18% services: 61.2% (1995 est.)
Political parties and leaders	Democratic Change or CD [Ricardo MARTINELLI]; Democratic Revolutionary Party or PRD [Hugo GUIRAUD]; Nationalist Republican Liberal Movement or MOLIRENA [Gisela CHUNG]; Panamenista Party or PA [Juan Carlos VARELA] (formerly the Arnulfista Party); Patriotic Union Party or PU (combination of the Liberal National Party or PLN and the Solidarity Party or PS)[Jose Raul MULINO and Anibal GALINDO]; Popular Party or PP [Rene ORILLAC] (formerly Christian Democratic Party or PDC)	Democratic Change or CD [Ricardo MARTINELLI]; Democratic Revolutionary Party or PRD [Hugo GUIRAUD]; Liberal Party or PLN [Joaquin F. Franco VASQUEZ]; Nationalist Republican Liberal Movement or MOLIRENA [Gisela CHUNG]; Panamenista Party or PA [Juan Carlos VARELA] (formerly the Arnulfista Party); Patriotic Union Party or PUP [Jose Raul MULINO and Anibal GALINDO]; Popular Party or PP [Rene ORILLAC] (formerly Christian Democratic Party or PDC); Solidarity Party or PS
Telephone system	general assessment: domestic and international facilities well developed domestic: combined fixed-line and mobile-cellular telephone density is approaching 70 telephones per 100 persons international: country code - 507; landing point for the Americas Region Caribbean Ring System (ARCOS-1), the MAYA-1, and PAN-AM submarine cable systems that together provide links to the US, and parts of the Caribbean, Central America, and South America; satellite earth stations - 2 Intelsat (Atlantic Ocean); connected to the Central American Microwave System	general assessment: domestic and international facilities well developed domestic: NA international: country code - 507; 1 coaxial submarine cable; satellite earth stations - 2 Intelsat (Atlantic Ocean); connected to the Central American Microwave System
Unemployment rate	7.2% (2007 est.)	8.8% (2006 est.)

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