Is panama more economically developed or less economically developed?

Question

i cant find anything on this country and i really need to find out whether it is or not.

Answer 1

First you need to narrow your question and ask if Panama is more or less economically developed than _______?

Then in order to find the answer to your question search economic data on Panama and the country of comparison.

Figures such as GDP, per Capital GDP, annual growth, unemployment figures etc... are all of interest.   Compare the numbers and decided who is doing better.

Answer 2

Let me try to answer this.

It has a 34 billion GDP (purchasing power parity)

That makes it the 101st most producing country in the world.

It also has the 101st highest GDP per capita.

Out of 195 countries in the world. So to answer your question, it less economically developed.

Answer 3

More or less economically developed then who or what. Try a google search for Panama, and next time ask a whole question.

Answer 4

Hi, Retro: Panamá, right now,  is  more  economically developed than 10 years ago.

In Latin America, you can not compare to Panama, with countries such as Brazil, Argentina, Chile and Mexico, etc. for obvious reasons, but yes, there are economic indicators of relative nature, which serves as reference.

So,  there are some considerations.

The Expansion of the Panama Canal  becomes the economic clouster that this country needed. All industries around this  billionaire investment will have an extraordinary development.

The  Economic growth in Panama in 2007 was 11.2 percent, the highest in Latin America, but inflation rose dramatically to 6.4 percent, the highest since 28 years ago, according to official figures reveal.

In current terms, GDP in 2007 was estimated 19.739,8 U.S. dollars (15.2 percent more than in 2006), but in real terms (taking as a reference price of 1996) was 16.966,1 million, or 11 , 2 percent more than the previous year.

The per capita (GDP per capita),  shows a sustained increase "in prices buyer 1996" since 2002 to 0.4 percent this year, 2.3 in 2003, 5.6 in 2004, 5.3 in 2005 ; 6.8 in 2006 and 9.3 percent estimated for 2007.



The sector agriculture, hunting and forestry grew 4.4 percent, fell 2.2 fishing, mining and quarrying rose 19.6 and that of manufacturing industries increased 5.7 percent.

The production of electricity and water rose 5.1 percent, while construction grew 19.6; the commercial sector rose 8.4; hotels and restaurants 14.6; transport, storage and communications 17.6 and financial intermediation rose 18.7 percent, among other sectors.

But inflation, or consumer price index, has remained constant since 2002, the year that reached a 1 per cent, fell to zero in 2003 to 0.4 in 2004, in 2005 was 2.9, 2, 5 in 2006, up 6.4 per cent in 2007.

Moreover, the purchasing power of balboa (national currency equivalent to U.S. dollar) between 2004 and 2007 deteriorated 9 cents nationally urban.

The indicator of wholesale prices nationally fell 3 percent in 2002, rose 1.6 in 2003, grew 4.4 in 2004, climbed to 5.7 in 2005, climbed to 6.1 in 2006 and fell to 5.3 percent in 2007.

In parallel, the basic monthly food basket, as measured by the Panamanian Ministry of Economy and Finances (MEF) has ranged upwards from 189.25 $ 2003, to 193.16 in 2004; 202.51 in 2005; 205.38 in 2006 and 237.55 U.S. dollars in 2007.

The  unemployment,  according to official figures has fallen from 11 to 6.4 percent.

So,  here are  the bad news, unfortunately  economic growth benefits only a few.

Correct, there is a real estate boom unprecedented in the history of the country, which is causing large investments, mainly  in the construction sector, tourism,  organic agriculture and some industries, but is not coming as is due to the working classes.

There is a wealthy class, which is taking greater advantage of this great growth, because the current government, has not wanted to regulate the profits or contracts or tenders where these  economic groups in the country have, when they get alliance with international consortia .

The figures that we have tabled, saying much of the growth and future development of the country. But is creating a world of difference between rich and poor, something that really creates doubts whether this great economic growth is positive in all aspects.

Corruption is the major obstacle that is facing my country, because the laws are manipulated by politicians and influential economic groups and there is no certainty of punishment, against the corrupt. This is a problem of an underdeveloped country, which is still in office governments have been unable to control.

There is a crisis in public education, which has not yet been re-structured, also public health is still suffering from a history of mismanagement.

In conclusion, Panama is a country that is developing, but is still unable to solve basic problems such as health, education, security and corruption.

I hope you have helped a bit, to understand my country.