ECONOMY

  • 2013 GDP of 42,65 billion USD. Over the last 3 years : +10.6 % in 2011, +10.2 % in 2012 and +8.4 % in 2013.
  • GDP growth forecast of 6.5 % average over the period 2014/2018 ( Source IMF ).
  • GDP per capita of $ 16,993, 4th Latin American. The IMF expectations to reach $ 20,122 in 2016 ( 22,300 Euros Spain, Brazil 12,200 USD,¬†Figures 2013).
  • Currency Balboa = 1 Dollar, dollar is legal tender.
  • Strong Banking System.
  • Unemployment rate of 4.1 %. The coutry can be considered in a situation of full employment. Need > has availability.
  • Public debt is stable at 42 % of GDP. Much lower rate than in¬†OECD countries.
  • Minimum monthly salary of 624 USD in January 2014. This is the highest in Latin America.
  • Inflation rate 3.8 % in 2013. BBVA provides stable inflation between 3.5 % and 4 % over the next 3 years.
  • Colon : The second free trade zone in the world, it represents a business superior to 20 billions USD per year.
  • At the end of 2013, more than 105 international companies are present in Panama.
  • Law 41 of 2007 and Act 45 of 2012 protects foreign inversion and allows low taxes.

CAF dvlpt Bank of Latin America.