8.17

Panama

Selected Economic and Social Data

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

Population ('000)

2,257

2,303

2,350

2,398

2,443

2,488

2,535

2,583

2,631

2,674

2,719

Growth Rate (%)

2.0

2.0

2.0

2.0

1.9

1.8

1.9

1.9

1.9

1.6

1.7

National Accounts

GDP, Current Prices (m. balboas)

5,638

4,875

4,888

5,313

5,842

6,641

7,253

7,734

7,906

8,232

8,709

GDP, 1982 prices (m. balboas)

4,988

4,321

4,388

4,744

5,190

5,616

5,923

6,091

6,198

6,348

6,615

Real GDP Growth Rate (%)

-1.8

-13.4

1.6

8.1

9.4

8.2

5.5

2.8

1.8

2.4

4.2

Real Per Capita GDP (1982 balboas)

2,210

1,876

1,867

1,978

2,124

2,257

2,336

2,358

2,356

2,374

2,433

Real Per Capita GDP Growth Rate (%)

-3.8

-15.1

-0.5

5.9

7.4

6.3

3.5

0.9

-0.1

0.8

2.5

Gross Dom. Investment/GDP (%) [a]

18.4

7.5

6.2

16.8

19.2

23.7

24.7

26.8

30.3

29.1

..

Private/GDP (%)

15.9

4.6

4.3

15.5

16.1

20.0

21.1

24.1

25.8

25.0

..

Public/GDP (%)

2.5

2.9

1.9

1.3

3.1

3.7

3.6

2.7

4.5

4.1

..

Gross National Savings/GDP (%) [a]

31.8

24.3

11.0

23.7

19.7

25.9

27.1

30.5

29.9

28.8

..

Foreign Savings/GDP (%) [a]

-13.4

-16.8

-4.9

-6.9

-0.5

-2.2

-2.4

-3.6

0.4

0.3

..

Prices

GDP Price Deflator (1982 = 100)

113.0

112.8

111.4

112.0

112.6

118.3

122.5

127.0

127.6

129.7

131.7

Annual Change (%)

2.3

-0.2

-1.3

0.5

0.5

5.1

3.6

3.7

0.5

1.6

1.5

Consumer Price (1987 = 100)

100.0

100.6

100.7

101.5

102.8

104.6

105.1

106.5

107.5

108.9

110.2

Annual Change (%)

1.0

0.6

0.1

0.8

1.3

1.8

0.5

1.3

0.9

1.3

1.2

Balance of Payments (US$m)

Current Account Balance

409

592

(6)

(15)

(437)

(481)

(283)

(345)

(292)

(418)

(538)

Exports, fob

458

422

431

460

454

498

508

541

573

570

659

Imports, fob

1,053

688

812

1,097

1,277

1,527

1,672

1,837

1,966

2,232

2,305

Trade Balance

(595)

(266)

(381)

(637)

(823)

(1,029)

(1,164)

(1,296)

(1,393)

(1,662)

(1,646)

Services, net

1,022

879

397

626

388

555

888

959

1,105

1,248

1,113

Private Transfers, net

(18)

(21)

(22)

(4)

(2)

(7)

(7)

(8)

(4)

(4)

(5)

Capital Account Balance

48

148

291

578

11

14

190

292

788

446

1,218

Official Transfers, net

136

130

118

223

224

341

210

157

158

156

157

Direct Investment, net

(448)

(595)

51

132

41

139

156

354

179

238

1,030

Portfolio Investment, net

(166)

2,151

(469)

(238)

(256)

(117)

(809)

373

314

3,643

(873)

Official Capital, net

37

182

225

585

266

162

200

(260)

319

(3,302)

95

Deposit Banks, net

549

(1,671)

319

(393)

(291)

(376)

(50)

(384)

(239)

49

512

Other Capital, net

(60)

(49)

47

269

27

(135)

483

52

57

(338)

297

Errors and Omissions

(495)

(745)

(236)

(136)

630

450

257

(52)

(211)

103

97

Overall Balance (change in reserves)

(38)

(5)

49

427

204

(17)

164

(105)

285

131

777

External Public Debt

Debt Outstanding, 12/31 (US$m)

3,814

3,850

3,891

3,795

3,699

3,548

3,494

3,663

3,715

5,019

4,950

Debt Outstanding/GDP (%)

67.6

79.0

79.6

71.4

63.3

53.4

48.2

47.4

47.0

61.0

..

Debt Service/Exports (%)

59.8

6.2

2.1

27.2

32.6

65.1

20.1

25.1

25.1

52.3

..

Nonfinancial Public Sector (% of GDP)

Current Revenue

29.3

21.6

22.1

26.8

28.4

29.1

28.1

28.2

28.9

27.8

28.0

Current Expenditures

26.5

30.4

31.7

28.7

27.8

25.1

25.8

24.7

25.6

23.7

25.2

Current Surplus/Deficit

2.8

-8.8

-9.6

-1.9

0.6

4.0

2.3

3.5

3.3

4.1

2.8

Capital Revenue

0.0

0.0

0.0

0.1

0.2

0.4

0.3

0.3

0.2

0.0

0.0

Capital Expenditures

3.7

1.2

1.1

0.7

2.0

3.1

4.0

3.5

3.4

3.8

5.0

Overall Surplus/Deficit

-0.9

-10.0

-10.7

-2.5

-1.2

1.3

-1.4

0.3

0.1

0.3

-2.2