How did Panama's economy develop?

The overall economy is at a low level of development, and agriculture, forestry and fisheries account for most of people's livelihood. However, shipping-related enterprises and some financial and insurance industries have international status, resulting in a few super-rich classes, with a large gap between the rich and the poor. Panama is rich in forest resources and has many tropical tree species. The East is rich in mahogany, cedar and teak, providing some internationally competitive export products. Farmers live on tropical cash crops such as bananas, pineapples, sugar cane and coffee. The industrial base is weak and there is no heavy industry. The manufacturing industry is mainly light industry such as agriculture and animal husbandry products processing industry and people's livelihood products industry, and some low-tech household appliances can be made by themselves. Copper and gold deposits are large, and it is the sixth largest copper mining country at present, with the output value of 20 13 ore mining reaching 430 million US dollars. There are theoretical reserves of oil and natural gas in the eastern rock strata, which has also become the focus of international energy circles. For the general public, the only way to leave the countryside is to enter the city to engage in the service industry. The output value of the service industry reaches 2.5/kloc-0.0 billion US dollars, and transportation, warehousing and tourism are the sources of a large number of jobs. Grand port in Panama (including MIT, CCT, Cristobal, etc. ) Located on the Atlantic coast and the Pacific coast, balboa Port and PSA Panama Port are the first and second largest ports in Central and South America.

In fiscal year 20 14 1 quarter, the tonnage of Panama Canal reached a record high of 87.7 million tons in a single quarter. Workers with higher knowledge level can choose higher-end banks and insurance in the service industry. Panama is a financial center in Central America and the Caribbean, with total banking and insurance assets of 97.925 billion US dollars. After 20 10, the tourism industry has made rapid progress, and the government has also strengthened tourism construction. In 20 13, the world economic forum ranked 37th among 140 countries and regions, and 4th in America. The sustained investment in the hotel industry and the holding of international trade fairs have become the key support targets of the government. The future opening of the Nicaragua Canal will inevitably have an impact on Panama. The government intends to invest in strengthening business reception capacity and financial service capacity to meet this challenge. In view of its important geographical location, Panama's economy is dominated by services, mainly finance, trade and tourism. Due to the close relationship between Panama's establishment and trade with the United States, Panama began to use the US dollar as the currency of circulation from 1907, and the national currency was balboa, but only coins of 1 minute, 10, 25 cents and 50 cents were issued, which were equivalent to the US dollar and used simultaneously in China. It is the first country in the world to use the US dollar as legal tender outside the United States. Panama is one of the most important countries in Central America and the Caribbean. Panama has a stable political situation and a good momentum of economic development. Panama Canal shipping, regional financial center, Cologne Free Trade Zone and tourism are the four pillars of Panama's economy, and service industry plays an important role in the national economy. In 20 13, Panama's GDP increased by 8.4%, and it continued to lead the Latin American economy, becoming the fastest growing country in Latin America and the Caribbean for three consecutive years. 20 13 Panama's main economic data: GDP is 42.648 billion US dollars, GDP growth rate is 8.4%, currency name Balboa is issued only as a token, the exchange rate of US dollars circulating in Pakistan is equivalent to US dollars, inflation rate is 3.7%, and unemployment rate is 4. 1%.