Panama is a relatively new country in the Americas, having been explicitly encouraged to secede from Colombia by the US in 1903 in order to facilitate construction of the Canal. Throughout the twentieth century Panama earned transit fees from the Canal and also, in tandem, developed as Latin America’s only offshore financial centre. There was an ongoing dispute with the US over sovereignty of the Canal Zone but in 1977 President Carter of the US agreed to return sovereignty to Panama which took place in 1999.

Panama was under military rule (alongside civilian administrations) from 1969 to the fall of Noriega in 1990. Since then it has had constitutional governments. 
The economy grew on avarage 4% pa up to the year 2000 with a sharp contraction the year of Noriega’s ouster. Since the turn of the Millennium it has been the star performer in Latin America with growth averaging 6% pa.  It’s international insertion is based on transit fees from the Canal, Zona Francas (free trade zones) for manufacturing, the offshore financial sector, tourism (including cruise ships) and a light indigenous manufacturing sector.

In 2016 the so called ‘Panama Papers’ were released. These were documents hacked from the computers of law firm Mossack Fonseca. This and other similar releases effectively mean the end of offshore privacy and will undoubtedly have long term repercussions for the sector. However the numbers employed in the sector are not large.   

Contents

Introduction

The Modern Period

The Current Era

The Modern State

Economics from the Ground Up

Political Systems

Trade Theory

The EU as a Model of Integration

Industrialisation

Synopsis

Data                                   

            World GDP                                           2018

            World GDP PPP                                   2018

            GDP per capita ppp                           2018

            Exports   &  Imports                          2018

            Container Traffic                 2010 & 2018

            Oil Production                                    2018

            Migrant Remittances                       2018

            Tourism Statistics                             2017

            Tourism Americas                             2017              

Latin America         

Background

The US and Latin America

Economy

The EU and Latin America

Mercosur

World Exports                                   2000-2018

Panama                         

            Introduction

            Economy

            State Finances

            Central America Tables

            Charts & Chart Commentary

Sources

66 pages