Country Report Panama March 1998 Main report

Economic structure.

Economic structure Latest available figures Economic indicators 1993 1994 1995 1996 1997(a) GDP at market prices (B m) 7,253 7,734 7,906 8,202 8,563 Real GDP growth (%) 5.6 2.9 1.8 2.4 4.4(b) Consumer price inflation 0.5 1.3 1.0 1.3 1.5(b) (av; %) Population (m) 2.5 2.6 2.6 2.6 2.6 Exports fob© ($ m) 5,417 6,044 6,104(a) 5,889(a) 6,890 Imports fob© ($ m) 5,751 6,285 6,665(a) 6,231(a) 7,794 Current account balance ($ m) -143 22 -343 -60 -282 Reserves excl gold ($ m) 597 704 782 867 1,118(b) Total external debt ($ m) 6,958 7,121 7,180 7,261(a) 7,483 Debt-service ratio (%) 15.7 23.9 20.9 27.9(a) 28.0 Exchange rate (av; B:$) 1 1 1 1 1(b) March 6th 1998 B1:$1 Origins of gross domestic product 1996 % of total Agriculture, forestry & fishing 8.1 Manufacturing & mining 9.9 Construction 3.9 Transport & communications 12.3 Commerce, hotels & restaurants 20.0 Finance 11.1 Real estate 13.7 Government 10.5 Total inc others 100.0 Components of gross domestic product 1996 % of total Private consumption 51.8 Government consumption 15.7 Fixed investment 25.6 Stockbuilding 4.0 Exports of goods & services 95.7 Imports of goods & services -92.7 GDP at market prices 100.0 Principal exports 1997(d) $m Principal imports cif 1996(d) $m Bananas 176.6 Capital goods 679.5 Shrimp 95.5 Food products 266.0 Sugar 26.5 Oil 300.7 Total incl others 621.6 Total incl others 2,778.8 Main destinations of % of Main origins of imports % of exports 1996(d) total 1996(d) total US 47.6 US 37.3 Switzerland 10.2 Colon Free Zone 13.6 Costa Rica 6.6 Venezuela 7.1 Germany 4.4 Japan 6.0 Belgium-Luxembourg 4.2 Ecuador 3.8 (a) EIU estimates. (b) Actual. © Includes imports to and re-exports from the Colon Free Zone (CFZ). (d) Excludes imports to and re-exports from the CFZ.

© 1998 The Economist lntelligence Unit Ltd. All rights reserved
Whilst every effort has been taken to verify the accuracy of this information, The Economist lntelligence Unit Ltd. cannot accept any responsibility or liability for reliance by any person on this information
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