If we describe Panama in 1903 in a few words, it should be something like that: “An abundance of fish, forests, birds and insects”.
How can we describe Panama nowadays? It is one of the leading counties in Latina America with economy made of service sector, banking, trade and tourism.
Economy of Panama is a market with historically low rates of inflation (2.4%), where the national currency is the US dollar. The largest industry is a service sector, the banking industry, trade and tourism. Transmission of ownership of the Canal has given a rise to a number of major construction projects, such as expansion of the Canal, new roads and metro system.
Panama economy is based primarily on a well developed service sector, which accounts for almost 80% of GDP. Among the major services of the Republic there is the Panama Canal, financial services, free trading zones, insurance, container shipping, ship registration, medical services etc. Light and heavy industries are not developed on the contrary. There is a production of spare parts for aviation, cement, beverages, stationery and textiles. Leading products for export from Panama are bananas, shrimp, sugar, coffee and clothing.
Economy of Panama is one of the fastest growing in the world and certainly the best managed in Latin America.
Panama is a very hospitable country with great tourism and immigration policy. There are many immigration and tax incentives that made it possible to attract thousands of retirees and foreign investors.
Following is the video which we would like to share with you
