Three-fourths of Panama's GDP depends on an economy based primarily on well-developed services sector. Services include the Panama Canal, on the banking, the Colon Free Zone, insurance, container ports, flagship logging, and tourism. Growth of the economy of Panama has taken positive and sustainable through economic stability in recent years, including an inflation level that is among the lowest in the world and income per capita is among the highest in Latin America.
In the past 15 years, revenue from international tourism in the Republic of Panama has grown 1.5 times faster than the national GDP, with no sign that it will decrease. For 2005, tourism generates between 15% and 20% to the national economy. The 1398 Panama has attractions that 70% are natural sites and 30% are cultural and historical sites.
The Environment of Panama
The Panama is a land bridge natural that connects North and Central America, South America. The two halves north-west and east of Panama and the Canal Zone is dominated by tropical forests full of animal and plant species of the two continents. More species of birds live in Panama than in North America. In total there are 954 indigenous bird species plus hundreds of species of migratory birds. The Panama is also home to 225 species of mammals, 214 species of reptiles and 143 species of amphibians, and home to over 10,000 species plant.
The combination of incredible natural beauty, pleasant moderate climate and access to international markets and quality and low cost of labor, make Panama an ideal place to live. You can fly from a modern, bustling city to a tropical jungle full of animal and plant life in so little time
time.
Statistics:
Full country name: Republic of Panama
Area: 78,000 square kilometers (30,420 square miles)
Population: EUR 3 million (July 2005) (growth rate 1.3%)
Capital: Panama City (population 700,000)
Population:
70% mestizo (mixed Amerindian and white)
14% Amerindian and mixed (West Indies)
10% white
6% Amerindian
Language:
Spanish
English
Languages India
Religion:
Roman Catholic 85%
10% of Protestants
5% Islamic
Government: Constitutional Republic
President: Martín Torrijos
GDP: $ 8.8 billion
GDP per capita: U.S. $ 3200
Annual growth: 4.1%
Inflation: 1.1%
Exports: Fob U.S. $ 5.699 billion (includes the Colon Free Zone) (2004 est.)
Exports – Commodities: bananas, shrimp, sugar, coffee, clothing (1999)
Exports – partners: United States 50.5%, Sweden 6.6% Spain 5.1% Netherlands 4.4%, Costa Rica 4.2% (2004)
Imports: FOB U.S. $ 7.164 billion (including the Colon Free Zone) (2004 est.)
Imports – Commodities: capital goods, foodstuffs, capital goods consumer chemical products
Imports — Partners: USA 33.3%, Netherlands Antilles 8.1%, Japan 6%, Costa Rica 5.7%, Mexico 4.6% Colombia 4.2% (2004)
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About the Author:
The author is a researcher, with years of experience in finances and real estate.
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Article Source: ArticlesBase.com – Life in Panama
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