Panama Economy 11-29-2010
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.
