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Economy of Panama

According to various financial institutions, the Panamanian economy is considered upper-middle income. Through the years the Panamanian economy and its banking system have been known internationally as one of the strongest in the World Bank data continente.Según Panama has the highest per capita GDP in Central America to be of $ 13,090 and is the PPA third largest economy in Central America after Guatemala and Costa Rica.

The neoliberal economic model imposed during the 1990s, has enabled the country to be the most globalized of Latin America for several años.Es a fully dollarized economy without central bank. Panama's economic policy is based on the tertiary sector, one of the earliest countries to use this política.Este sector accounts for 75% of its gross domestic product, however there has been a significant increase in industry and construction. Its official currency is the Balboa, which is equivalent to the U.S. dollar circulates legally in all its territory from (1904).

Panama exported in 2009, $ 16,209 million, according to ECLAC, making it the biggest exporter in Central America and the tenth in Latin America.

During the 2000s, especially after 2005, the country experienced economic growth and sustained GDP, which has led organizations like the IMF projected that by 2015 the country to reach the $ 16,505 per capita PPP something approaching the threshold of income of developed economies, situated around U.S. $ 20,000 per capita PPP. The country is classified in the category of investment grade by credit rating companies: Standard and Poors, Moody's and Fitch Ratings.

Geography of Panama

The Republic of Panama isthmus is a strip with a total area of ​​75,517 km ², surface waters: 2,210 km ². Total: 78,200 km ²
The highest peaks are the Volcan Baru with 3,475 m, Cerro Fabrega with 3,375 m, 3,280 m and the Itamut with the Echandi to 3,163 m. Its principal islands are 493 km ² with Coiba, Del Rey with 234 km ² and 80 km ² Cebaco with. The largest lakes are Gatun 423.15 km ², the Bayano with 185.43 km ², and Alajuela 57 km ². The most important rivers are the Chucunaque with 231 km to 230 km Tuira, Bayano with 206 km, 173 km Santa Maria River and more important for its impact on the economy is the Chagres of 125 km, vital to the functioning of the channel of Panama.

Borders: 555 km total; Colombia 225 km, Costa Rica 330.
Coastline: 2,490 km.

The Republic of Panama is a great band isthmic with a total area of ​​75,990 km ², and 2,210 km ² of surface waters, totaling 78,200 km ².

The country is located in Central America between latitudes 7 ° 11 'and 9 ° 37' north latitude.
Bounds

* Borders: 555 km total; Colombia 225 km, Costa Rica 330 km.
* Costs: 2,490 km.

Bordered on the north by the Caribbean Sea, south by the Pacific Ocean, east of the Republic of Colombia and the West with the Republic of Costa Rica.
Extreme points of the Republic of Panama

* North: Drum Island, Located north of Isla Grande, Colon Province.
* South: Jicarita Island, Located south of the island Jicarón, Province of Veraguas.
* To the east: Milestone Auxiliary # 10, located in Alto Limon, Province of Darien.
* West: Milestone Auxiliary # 60, located in San Bartolo, Chiriqui.

Training

The two lines of the coast of Panama referred to as the Caribbean and Pacific coasts far more than the north and south.
To the east is west Colombia and Costa Rica. Due to the location and contours of the country, expressed in the compass directions are striking. For example, a transit through the Panama Canal from the Pacific Ocean to the Caribbean involves travel not east, but to the northwest, and in Panama City the sunrise is to the east over the Pacific Ocean.

Coast

Panama has several ports that qualify. Among these we Cristobal, Balboa, Resume, Armuelles among others. The largest port on the Pacific coast is the Balboa which is located at the entrance of the Panama Canal in the Pacific Ocean.

Pacific coastal waters are extraordinarily low. The depths of 180 meters are reached only outside the perimeters of both the Gulf of Panama and the Gulf of Chiriquí, and wide mud flats extend up to 70 miles seaward of the coast lines. As a consequence, the tidal range is extreme. A variation of about 70 centimeters between high and low tide on the Caribbean coast contrasts sharply with more than 700 centimeters on the Pacific coast, and about 130 kilometers up the River Tuira the range is still over 500 centimeters.

Climate

Generally has a tropical climate, very hot all year round on the coasts and lowlands, modified inward as it gains altitude, with temperatures pleasantly cool to the 1000 m and cold above 2000 m.

Rainfall is generally high, with differences between the Caribbean slope (3000mm/año on average) where there is practically no dry season and the Pacific slope, which has a marked dry season from December to March (1500 mm / year on average). Certain local conditions of exposure, ocean currents, wind direction and location on the windward or leeward, they vary the pattern of precipitation in some parts of the country, regardless of their location on a slope, for example, in some parts of the peninsula Azuero, in the Pacific, precipitation is less than 900 mm / year and the city of Panama and Coiba Island, also in the Pacific, over 2000 mm / year. In the mountainous interior are very high rainfall, recorded values ​​greater than 5000 mm / year.

Hurricanes are not a threat to the country for being south of its zone of influence (about 10 degrees North Latitude)

Panama

Panama (officially the Republic of Panama) is a country located southeast of Central America, bounded on the north by the Caribbean Sea, south by the Pacific Ocean, east to west with Colombia and Costa Rica.

Its status as a transit country early became a meeting point of cultures from around the world. The country is the geographical setting of the Panama Canal, designed to facilitate communication between the coasts of the Atlantic Ocean and the Pacific Ocean and significantly influenced global trade. The geographical position currently offers the world a broad platform of marine services, commercial real estate and financial, including the Colon Free Zone, the largest free zone in the continent and the second in the world.

With a population slightly more than three million people, has a privileged position in various rankings of growth and development in Latin America, as the human development index (first in Central America and fourth in Latin America).

The country is ranked in absolute terms, ie without taking into account the distribution of wealth, as medium-high income.

The Republic of Panama is named for Panama City, which hosted the town hall and established the jurisdiction of the Audiencia of Panama, which included in its entirety the Isthmus of Panama. The name of Panama's prevailed in the territory belonging to the viceroys of Peru and New Granada, during the Spanish colonial period and was finally made official the signing of the Act of Separation of Panama from Colombia

The word Panama is of native origin, probably from the cave.

There are several meanings and references to the name assigned to Panama, but it is commonly accepted meaning abundance of fish and butterflies.

Some historians attribute the name of the majestic tree called locally Panama (Sterculia apetala) of leafy shade and very common in the area, which met under the Aboriginal families.

With regard to the city of Panama, near the site of the city founded by Pedrarias, were small settlements of fishermen called Panama, as indicated in a letter, which some authors could be the reason for baptizing the city that name.

Your Highnesses know that Panama is a fishery on the coast of the South Sea and Indian fishermen because they say Panama