Tocumen Airport

 

construction

 

making panama hats

 

 

 

Economy

crest of Panama The Panamanian currency is officially the balboa, fixed at parity with the United States dollar since independence in 1903. In practice, however, the country is dollarized; Panama has its own coinage but uses U.S. dollars for all its paper currency. Some claim that Panama was the first of the three countries in Latin America to have dollarized their economies (later followed by Ecuador and El Salvador), but in fact, Panama simply adopted the dollar from its very independence.

The high levels of Panamanian trade are in large part from the Colón Free Trade Zone, the largest free trade zone in the Western Hemisphere. Last year the zone accounted for 92% of Panama's exports and 64% of its imports, according to an analysis of figures from the Colon zone management and estimates of Panama's trade by the United Nations Economic Commission for Latin America and the Caribbean. Panama's economy is also very much supported by the trade and exportation of coffee and other agricultural products.

cruise shipCanal Railway

Panama's strategic location, pension programs, tax exemptions, low cost of living, tropical and highland climates and investment incentives have contributed to the ongoing real estate boom that has been affecting Panama City and the rest of the country. Apart from the existing demand, future developments may be helped by such factors as the expansion of the Panama Canal and construction of many high-rise offices and condominium towers, including the new Trump Tower.

(Referenced from Wikipedia)

 

Panama City