Panama - Economic sectors

The Panamanian economy is dependent on trade. The canal provides the main source of economic activity, although efforts to diversify the economy are ongoing. The service sector is the dominant part of the Panamanian economy and continues to grow. In 1997, the service sector accounted for 67 percent of the nation's GDP, but by

2000 that percentage had grown to 80 percent. As such, the country's economy is geared toward banking, commerce, and maritime services. Services provide 67 percent of employment.

Agriculture, including forestry and fisheries, only accounts for about 7 percent of the nation's GDP. However, they provide 25 percent of the country's employment and provide the main exports. Among the country's major crops are bananas, coffee, rice, and sugar cane. Like agriculture, industry only accounts for a small percentage of the GDP when compared to the service sector. Industry provides about 25 percent of the country's GDP and 8 percent of employment. Panamanian industry includes manufacturing, construction, mining, and processed foods.

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