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