• Panama

    Panama

    Development Challenges  

    Panama is one of the largest and fastest growing economies in Central America. It is the first offshore finance and per capita consumer of the region. Manufacturing and shipping registries are the main activities that generate jobs and tax revenues in the country. A services-based economy, which includes operating the Panama Canal, banking, and tourism, Panama is the second most competitive economy in Latin America. Despite the recent economic boom with growth in real GDP, Panama has the second worst income distribution in Latin America. The dollar-based economy faces development challenges, including:  

    • Inequality and poverty
    • Need for investment
    • Need to recover from the impact of the global financial crisis

     Key Trade Issues  

    • Few free trade agreements
    • Concentration of trading partners
    • A banana trade that has been hit by disease and is vulnerable to tariff changes in the European export market

     Government Priorities 

    • To continue regional integration
    • To complete the ambitious plan of expanding the Canal to double its capacity (2007-2014/2015)
    • To seek removal from the Organization of Economic Development’s gray-list of tax havens
    • To continue its booming transportation and logistics services sectors
    • To implement aggressive infrastructure development projects

     

    Trade and Tariff Graphs

    Graphs of the country’s export markets, its export performance in a key sector and tariffs exporters of a sample product face.
    Trademap sample Trademap sample: The map uses color codes to illustrate the relative size of different markets in the overall exports of the country shown in pink.
    Trademap sample Trademap sample: The vertical axis shows import values by key importing countries, while the horizontal axis shows export values by the country for the same sector. I.e. the country has gained market share in the case of an importing country at the bottom right of chart and lost market share for countries top left. The size of circles is proportional to market size.
    Market access map sample Market access map sample: The world map shows trade values and tariff levels for a key export product by importing countries. Color codes indicate protection levels. Red circles denote trade volumes.

    Trade and Investment Data

    Detailed data on the country’s export performance, key imports and foreign investment, grouped by product and service categories (HS and BOP).

    Trade Information Sources

    A listing of country specific print and online publications on trade related topics. Includes information from both ITC and external sources.

    Trade Contacts

    The most important trade contacts, including importers’ and exporters’ associations, trade support institutions, trade promotion organizations and institutions providing business development assistance.