Diplomatic representation from the US: chief of mission: Ambassador (vacant); Charge d'Affaires Frederick A. BECKER embassy: Avenida Balboa and Calle 37, Apartado Postal 6959, Panama City 5 mailing address: American Embassy Panama, Unit 0945, APO AA 34002 telephone: [507] 207-7000 FAX: [507] 227-1964
Flag description: divided into four, equal rectangles; the top quadrants are white (hoist side) with a blue five-pointed star in the center and plain red; the bottom quadrants are plain blue (hoist side) and white with a red five-pointed star in the center
Economy Panama
Economy - overview: Panama's economy is based primarily on a well-developed services sector that accounts for three-fourths of GDP. Services include the Panama Canal, banking, the Colon Free Zone, insurance, container ports, flagship registry, and tourism. A slump in Colon Free Zone and agricultural exports, the global slowdown, and the withdrawal of US military forces held back economic growth in 2000-01. The government plans public works programs, tax reforms, and new regional trade agreements in order to stimulate growth.
GDP: purchasing power parity - $16.9 billion (2001 est.)
GDP - real growth rate: 1.4% (2001 est.)
GDP - per capita: purchasing power parity - $5,900 (2001 est.)
GDP - composition by sector: agriculture: 7% industry: 17% services: 76% (2000 est.)
Population below poverty line: 37% (1999 est.)
Household income or consumption by percentage share: lowest 10%: 1.2% highest 10%: 35.7% (1997)