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Panama

Capital Panama (Panama City)
Area Sq Km 77 082
Area Sq Miles 29 762
Population 2 767 000
Languages English, Spanish, Amerindian languages
Religions Protestant, Roman, Catholic, Sunni Muslim
Currency Balboa
National Day

Panama

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Economy Overview
Panama has arelatively prosperous economy based on agriculture, light industry, revenuesfrom the Panama Canal and the service sector. Over half the land area is given overto agriculture: the main cash crops are sugar cane, coffee and bananas, whilethe main food crops are rice, maize and beans. Commercial cattle-raising isalso prominent. The country has significant reserves of timber, particularlymahogany, and good fishing stocks, among which shrimp is a major and valuableexport earner. Local industries include food processing, clothing, paper andbuilding materials. Panama also exports petroleum refined from imported crudeoil. Further revenue is obtained from tolls levied on ships passing through thePanama Canal (which came under full Panamanian control in 2000), and fromregistration fees for a plethora of 'offshore' companies exploiting Panama'sstrict banking and commercial secrecy laws. Other important sources of revenueinclude the Colon Free Trade Zone established near the Canal through which 30per cent of all Panamanian trade passes, an 'open' shipping registry (ie a flagof convenience) and a rapidly-growing tourist industry now worth US$300 millionannually. The economy has recovered from the problems caused by the politicalupheavals of the late 1980s. A major reform programme undertaken during the1990s saw the privatisation of many state enterprises, reform of the tax andsocial security systems, and the removal of price controls and import tariffs.Panama is a member of the Inter-American Development Bank. About 40 per cent oftwo-way trade is with the USA and Japan; Costa Rica and Germany are thecountry's other important trading partners. Panama is also attracting growinginterest from Hong Kong-based commercial concerns.
Government
Both the unicameral 72-member legislature (Asamblea Legislativa) and the executive President are elected for five years. The President appoints a cabinet of ministers.

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Sports in Panama
Sports in Panama

Panama has always taken immense interest in football and has always kept their performance bar very high in American sporting sphere. The Panama football teams with their dedicated endeavors have made


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History of Panama
History of Panama

Panama's importance rapidly declined, and Spain did not contest its inclusion as a province of Colombia when that country won its independence from Spain in 1821.


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Incorporate an IBC in Panama
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Panamanian Companies can be incorporated without regards to the nationality of its directors and shareholders.


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Nightlife in Panama City

Panama City is renowned the world over for its vibrant nightlife which is evident in all its three sectors.


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Tourism Incentives in Panama

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Colon Free Trade Zone in Panama

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Getting married in Panama

Getting married in Panama is relatively simple, provided you supply all the necessary paperwork and follow the requisite procedures.


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Panama's Investment Grade Rating

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Travel tips to Panama

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Scuba-Diving in Panama
Scuba-Diving in Panama

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