Economy of Panama
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Economy of Panama

Panama's economy has become largely service-based, with
the operation of the Panama Canal, banking, insurance,
container ports, flagship registry, and tourism all playing
important roles. Less than a quarter of the land is used for
agriculture. On the upland savannas cattle are grazed and
subsistence crops such as rice, corn, coffee, and sugarcane
are grown. Bananas are grown on the Pacific coast. The
country has various light industries, including construction,
brewing, and sugar milling. The Colón Free Zone, established
in 1953, is a center for foreign investment in manufacturing.

Bananas are the leading export, followed by shrimp, sugar,
coffee, and clothing. Capital goods, foodstuffs, consumer
goods, and chemicals are imported. Much of the trade is with
the United States. In recent years the country has become a
nexus for the shipment of illegal drugs from Colombia to the
United States, as well as a center for drug-related financial
transactions.

source: www.reference.com, The Columbia Electronic Encyclopedia Copyright ©
2004, Columbia University Press. Licensed from Columbia University Press