Panama's economy will grow 9.2% in 2011 and double-digit in the next years
January 15, 2011
Before U.S. financial crisis, Panama's economy was growing at double-digit rates. Global downturn affected adversely this growth, reducing it to only 3.1% in 2009. By 2010, forecasts from international agencies such as the International Monetary Fund (IMF), World Bank and the Economic Commission for Latin America and the Caribbean (ECLAC), did not exceed 5%, however, Panama economy grew over 7%.
Panama Economy Insight forecasts that Panama's economy will grow 9.2% in 2011. In subsequent years, the economy will return to the levels that existed before the world economic crisis, growing 13% and 11% in 2012 and 2013 respectively.
| FORECAST - KEY ECONOMIC INDICATORS OF PANAMA | ||||||
| INDICATOR | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| Economic growth rate (%) | 3.1 | 7.1 | 9.2 | 13.0 | 11.0 | 4.9 |
| Inflation rate (%) | 2.4 | 3.5 | 3.8 | 4.5 | 3.8 | 3.8 |
| Unemployment rate (%) | 6.6 | 6.5 | 5.5 | 4.6 | 4.2 | 3.7 |
| Interest rate (%) | 7.9 | 8.0 | 8.6 | 7.8 | 8.2 | 9.4 |
| Fiscal deficit or surplus (as % of GDP) | -1.0 | -1.2 | -0.7 | 0.0 | -0.4 | -1.6 |
| Public debt (as % of GDP) | 46.3 | 43.6 | 39.7 | 34.2 | 30.4 | 29.9 |
Panama's economy grew 8.4% in the third quarter of 2010 according to data of gross domestic product (GDP) released by the National Institute of Statistics and Census (INEC). This occurred at a time when even Panama Canal expansion by 5.250 billion dollars has not entered its peak construction. Moreover, construction of the first line of subway in Panama City in by US$1.446 million would only be starting in 2011. Similarly, construction of a copper mine for a total investment of 4.320 billion dollars just be starting also in 2011. US$4.377 million have projected electricity sector investment over the next six years, according to a report released recently by the Public Services Authority (ASEP). Panamanian Association of Hotels (APATEL) has estimated hotel investment by 2.387 million dollars in 2010-2012. Government plans to make public investments by US$13.6 billion in 2010-2014. That is, Panama's economy is growing very strongly, not yet fully entered the large investment projects. Cumulative growth of the first three quarters was 7%. The strength of the Panamanian economy is evident in the business environment and good employment prospects, in fact recently announced by Manpower.
This growth of 9.2% in 2011 will lead to decrease of one percentage point of unemployment rate, placing it at 5.5% in August 2011. By 2012 and 2013, unemployment rate will drop to 4.6% and 4.2% respectively because double-digit economic growth during those years. Panama's labor force, measured by economically active population, will grow by 3.3% average annual during 2011-2014. Private enterprise participation on employed population will expand due to strong growth of formal jobs.
Aggregate demand boom, together with increases in oil prices, will lead to important rise of inflation rate, but not as dramatic as before of US financial crisis. Inflation rate will increase to 3.8% and 4.5% in 2011 and 2012 respectively. In fact, inflation rate will stabilize at 3.8% per year, at least until 2014. Specifically, inflation rate will not return to low rates recorded between 1997 and 2006, when annual average rate was only 1.3%.
Competition for skill workers will raise wages, but those who have not skill, most vulnerable groups, will be affected by inflation rates consistently higher than those observed during 1997- 2006.
As a result of high economic growth, fiscal deficit of Non-Financial Public Sector (NFPS) will be only 0.7% in 2011 and will fall to 0% and 0.4% in 2012 and 2013 respectively, when economy is growing at double-digit.
This reduction of NFPS deficit, together strong economic performance, will lead to a dramatic decline in public debt as a percentage of GDP. Public debt as percentage of GDP will decrease from approximately 43.6% in 2010 to only 30.3% in 2014.
Obviously, with this strong economic growth, biggest problems of President Ricardo Martinelli will be high inflation, to maintain high execution of public investment budget and to help to most vulnerable population groups.
In political scene, a economic growth as high as projected by we, together to reduction of unemployment rate, creation of formal jobs, high public investment and improvement in public finances, will incentive to President Martinelli to think in your re-election. In fact, his party (Cambio Democrático) seeks to reform the Panama Political Constitution to eliminate obstacles to re-election. However, in first attempt, Legislative Assembly filed the project of re-election law. Lack of persons with political leadership within party of President Martinelli, get ahead to political opposition in 2014 election, especially Democratic Revolutionary Party (PRD). In this sense, if not achieved the reforms to Political Constitution that allow for re-election, is likely in 2014 election look back a grand coalition to confront the political strength of PRD.
See also:
| FORECAST - PANAMA'S ECONOMY KEY INDICATORS | ||||||||
| PRONÓSTICO - INDICADORES CLAVE DE LA ECONOMÍA DE PANAMÁ | ||||||||
| INDICATOR | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| Economic growth rate (%) | 12.1 | 10.1 | 3.1 | 7.1 | 9.2 | 13.0 | 11.0 | 4.9 |
| Crecimiento económico (%) | ||||||||
| Inflation rate (%) | 4.2 | 8.7 | 2.4 | 3.5 | 3.8 | 4.5 | 3.8 | 3.8 |
| Tasa de Inflación (%)) | ||||||||
| Unemployment rate (%) | 6.4 | 5.6 | 6.6 | 6.5 | 5.5 | 4.6 | 4.2 | 3.7 |
| Tasa de desempleo (%) | ||||||||
| Interest rate (%) | 8.3 | 8.2 | 7.9 | 8.0 | 8.6 | 7.8 | 8.2 | 9.4 |
| Tasa de interés (%) | ||||||||
| Fiscal deficit or surplus (as % of current GDP) | 3.5 | 0.4 | -1.0 | -1.2 | -0.7 | 0.0 | -0.4 | -1.6 |
| Déficit o superávit fiscal (% del PIB) | ||||||||
| Public debt (as % of current GDP) | 53.7 | 45.0 | 46.3 | 43.6 | 39.7 | 34.2 | 30.4 | 29.9 |
| Deuda pública (% del PIB) | ||||||||
| Last updated: January, 2011 | ||||||||
| Última actualización: Enero, 2011 | ||||||||
| FORECAST - GOVERNMENT'S KEY INDICATORS | ||||||||
| PRONÓSTICO - INDICADORES CLAVE DEL GOBIERNO | ||||||||
| INDICATOR | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| Government's capital expenditures (in millions of US$) | 973.6 | 1,619.4 | 1,758.0 | 2,005.4 | 2,069.9 | 2,217.6 | 2,354.9 | 2,387.7 |
| Gasto de capital del sector público (millones de dólares) | ||||||||
| Total public debt (in millions of US$) | 10,470.6 | 10,437.4 | 10,972.0 | 11,271.3 | 11,487.9 | 11,479.6 | 11,620.3 | 12,278.6 |
| Deuda pública total (millones de dólares) | ||||||||
| Fiscal deficit or superavit (in millions of US$) | 683.0 | 97.8 | -253.3 | -299.3 | -216.6 | 8.3 | -140.7 | -658.3 |
| Déficit o superávit fiscal (millones de dólares) | ||||||||
| Debt increase (in millions of US$) | 17.9 | -33.2 | 534.6 | 299.3 | 216.6 | -8.3 | 140.7 | 658.3 |
| Aumento o disminución de deuda (millones de dólares) | ||||||||
| Fiscal deficit or surplus (as % of current GDP) | 3.5 | 0.4 | -1.0 | -1.2 | -0.7 | 0.0 | -0.4 | -1.6 |
| Superávit o déficit fiscal como % del PIB | ||||||||
| Public debt (as % of current GDP) | 53.7 | 45.0 | 46.3 | 43.6 | 39.7 | 34.2 | 30.4 | 29.9 |
| Deuda pública (% del PIB) | ||||||||
| Risk country - Standard & Poor | BB | BB+ | BB+ | BBB- | ||||
| Calificación de riesgo - Standard & Poor | Positivo | Estable | Positivo | Estable | ||||
| GDP at current prices (millions of US$) | 19,485.4 | 22,583.0 | 23,694.3 | 25,876.4 | 28,921.6 | 33,570.1 | 38,172.0 | 41,004.2 |
| PIB nominal (millones de dólares) | ||||||||
| Last updated: January, 2011 | ||||||||
| Última actualización: Enero, 2011 | ||||||||
| FORECAST - PANAMA'S ECONOMIC GROWTH RATES BY ECONOMIC SECTORS (%) | ||||||||
| FORECAST - PANAMA'S ECONOMIC GROWTH RATES BY ECONOMIC SECTORS (%) | ||||||||
| ECONOMIC SECTOR | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| Agriculture | 2.7 | 4.4 | -9.2 | 2.5 | 9.8 | 13.3 | 11.4 | 5.5 |
| Agricultura, ganadería y silvicultura | ||||||||
| Fishing | -3.3 | 15.7 | -3.7 | -26.9 | 9.8 | 11.7 | 10.7 | 7.6 |
| Pesca | ||||||||
| Mining, sand extraction and quarries | 24.0 | 30.9 | 4.4 | 5.3 | 12.8 | 23.6 | 15.0 | -5.0 |
| Minas y canteras | ||||||||
| Manufacturing | 5.6 | 3.9 | -0.4 | 0.8 | 10.3 | 16.2 | 12.5 | 2.1 |
| Industrias manufactureras | ||||||||
| Electricity power generation, distribution, gas and water | 8.2 | 3.8 | 7.5 | 5.4 | 9.8 | 14.4 | 11.8 | 4.3 |
| Suministro de electricidad, gas y agua | ||||||||
| Construction | 21.8 | 30.7 | 4.5 | 5.3 | 12.1 | 23.5 | 15.1 | -5.3 |
| Construcción | ||||||||
| Wholesale and retail, Colon Free Trade Zone | 10.7 | 7.0 | 1.6 | 10.1 | 7.3 | 12.6 | 10.4 | 3.4 |
| Comercio al por mayor, al por menor y en zonas francas | ||||||||
| Hotels and restaurants | 14.2 | 8.3 | 2.6 | 10.9 | 10.8 | 12.8 | 11.6 | 8.0 |
| Hoteles y restaurantes | ||||||||
| Transportation, warehousing and communications | 17.0 | 15.5 | 6.6 | 14.8 | 10.8 | 13.0 | 12.3 | 9.7 |
| Transporte, almacenamiento y comunicaciones | ||||||||
| Banking and other financial services | 19.2 | 14.1 | 1.6 | 1.6 | 4.1 | 4.9 | 4.7 | 3.7 |
| Intermediación financiera | ||||||||
| Real estate and other services | 8.6 | 7.2 | 4.5 | 6.9 | 9.6 | 13.6 | 11.6 | 5.3 |
| Actividades inmobiliarias y empresariales | ||||||||
| Private and public teaching | 7.1 | 1.6 | 2.4 | 1.6 | 5.3 | 6.9 | 6.4 | 3.8 |
| Enseñanza pública y privada | ||||||||
| Private and public healthcare and social services | 12.9 | 1.8 | 1.1 | 1.4 | 6.8 | 8.3 | 7.6 | 5.2 |
| Servicios sociales y de salud pública y privada | ||||||||
| Other social services | 14.4 | 6.8 | 4.3 | 5.5 | 9.4 | 13.2 | 11.3 | 5.1 |
| Otros servicios sociales | ||||||||
| Public administration and defense | 3.3 | 8.5 | 3.3 | 4.2 | 5.0 | 5.9 | 5.6 | 4.1 |
| Administración pública y defensa | ||||||||
| Homes with personal services | 1.1 | 1.8 | -0.9 | 1.2 | 2.7 | 2.9 | 2.9 | 2.9 |
| Hogares privados con servicio doméstico | ||||||||
| GROSS DOMESTIC PRODUCT | 12.1 | 10.1 | 3.1 | 7.1 | 9.2 | 13.0 | 11.0 | 4.9 |
| PRODUCTO INTERNO BRUTO | ||||||||
| Last updated: January, 2011 | ||||||||
| Última actualización: Enero, 2011 | ||||||||
| FORECAST - PANAMA'S ECONOMIC GROWTH RATES BY TYPE OF EXPENDITURE (%) | ||||||||
| PRONÓSTICO - TASAS DE CRECIMIENTO DE LA ECONOMÍA DE PANAMA POR TIPO DE GASTO (%) | ||||||||
| TYPE OF EXPEDITURE | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| Private consumption | 0.9 | 12.4 | 0.9 | 5.8 | 9.3 | 13.2 | 11.2 | 5.0 |
| Gasto de consumo final privado | ||||||||
| Public consumption | 4.1 | 4.1 | 3.8 | 4.1 | 4.2 | 4.3 | 4.4 | 4.4 |
| Gasto de consumo final público | ||||||||
| Private and public investment | 33.2 | 30.7 | -2.7 | 3.0 | 12.6 | 24.8 | 15.7 | -6.0 |
| Inversión privada y pública | ||||||||
| Exports | 22.0 | 8.0 | 0.0 | 6.6 | 8.8 | 9.9 | 10.2 | 10.6 |
| Exportaciones | ||||||||
| Imports | 18.1 | 12.6 | -4.0 | 3.5 | 9.4 | 12.9 | 11.3 | 6.3 |
| Importaciones | ||||||||
| GROSS DOMESTIC PRODUCT | 12.1 | 10.1 | 3.1 | 7.1 | 9.2 | 13.0 | 11.0 | 4.9 |
| PRODUCTO INTERNO BRUTO | ||||||||
| Last updated: January, 2011 | ||||||||
| Última actualización: Enero, 2011 | ||||||||
| FORECAST - PANAMA'S POPULATION EMPLOYED | ||||||||
| PRONÓSTICO - POBLACIÓN OCUPADA DE PANAMÁ | ||||||||
| ECONOMIC SECTOR | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| Agriculture | 244,631 | 243,384 | 247,391 | 241,992 | 234,699 | 244,024 | 252,946 | 265,621 |
| Agricultura, ganadería y silvicultura | ||||||||
| Fishing | 11,758 | 11,204 | 12,524 | 11,626 | 8,170 | 8,372 | 8,624 | 9,231 |
| Pesca | ||||||||
| Mining, sand extraction and quarries | 3,729 | 3,289 | 3,374 | 2,807 | 3,848 | 4,364 | 4,670 | 4,415 |
| Minas y canteras | ||||||||
| Manufacturing | 120,108 | 122,932 | 125,407 | 120,519 | 128,406 | 136,830 | 143,180 | 145,527 |
| Industrias manufactureras | ||||||||
| Power, gas and water | 8,339 | 7,288 | 8,148 | 7,613 | 8,560 | 8,980 | 9,341 | 9,693 |
| Suministro de electricidad, gas y agua | ||||||||
| Construction | 124,190 | 137,824 | 139,321 | 141,316 | 163,528 | 185,258 | 198,353 | 186,945 |
| Construcción | ||||||||
| Wholesale and retail, Colon Free Zone | 243,235 | 261,353 | 249,175 | 253,426 | 295,945 | 305,647 | 313,865 | 322,866 |
| Comercio al por mayor, al por menor y en zonas francas | ||||||||
| Hotels and restaurants | 69,521 | 71,334 | 77,828 | 74,839 | 86,587 | 89,567 | 93,021 | 99,986 |
| Hoteles y restaurantes | ||||||||
| Transportation, warehousing and communication | 92,168 | 101,349 | 108,698 | 113,406 | 129,730 | 134,545 | 140,511 | 153,324 |
| Transporte, almacenamiento y comunicaciones | ||||||||
| Banking and other financial services | 28,941 | 28,428 | 27,792 | 27,595 | 28,810 | 27,726 | 27,010 | 27,882 |
| Intermediación financiera | ||||||||
| Real estate and others | 67,088 | 71,887 | 77,997 | 82,787 | 83,013 | 86,511 | 89,794 | 94,089 |
| Actividades inmobiliarias, empresariales y de alquiler | ||||||||
| Public and private teaching | 68,800 | 76,486 | 75,940 | 82,436 | 79,120 | 77,629 | 76,803 | 79,319 |
| Public and private teaching | ||||||||
| Public and private healthcare and social services | 50,958 | 56,108 | 59,664 | 65,466 | 57,968 | 57,572 | 57,639 | 60,350 |
| Servicios sociales y de salud privada y pública | ||||||||
| Other social services | 65,013 | 70,893 | 73,681 | 73,000 | 80,536 | 83,643 | 86,566 | 90,556 |
| Otros servicios sociales | ||||||||
| Public administration and defense | 81,058 | 79,708 | 81,992 | 86,634 | 85,048 | 82,617 | 81,133 | 84,077 |
| Administración pública y defensa | ||||||||
| Homes with personal services | 76,765 | 77,539 | 71,206 | 68,786 | 75,358 | 71,141 | 68,097 | 69,723 |
| Hogares privados con servicio doméstico | ||||||||
| Organizaciones y órganos extraterritoriales | 670 | 915 | 663 | 1,344 | 1,344 | 1,344 | 1,344 | 1,344 |
| Organizaciones y órganos extraterritoriales | ||||||||
| POPULATION EMPLOYED | 1,356,972 | 1,421,921 | 1,440,801 | 1,455,592 | 1,550,671 | 1,605,771 | 1,652,897 | 1,704,949 |
| POBLACIÓN OCUPADA | ||||||||
| Economically population active | 1,449,318 | 1,505,930 | 1,541,904 | 1,557,047 | 1,640,490 | 1,682,807 | 1,726,215 | 1,770,742 |
| Población económicamente activa | ||||||||
| Population of 15 or more old year | 2,309,763 | 2,356,900 | 2,403,277 | 2,450,566 | 2,498,785 | 2,547,954 | 2,598,089 | 2,649,212 |
| Población de 15 y más años de edad | ||||||||
| Share of Economically population active | 62.7 | 63.9 | 64.3 | 64.7 | 65.7 | 66.0 | 66.4 | 66.8 |
| Participación de la población en la fuerza de trabajo | ||||||||
| POPULATION UNEMPLOYED | 92,346 | 84,009 | 101,103 | 101,455 | 89,820 | 77,036 | 73,318 | 65,794 |
| POBLACIÓN DESOCUPADA | ||||||||
| UNEMPLOYMENT RATE (%) | 6.4 | 5.6 | 6.6 | 6.5 | 5.5 | 4.6 | 4.2 | 3.7 |
| TASA DE DESEMPLEO (%) | ||||||||
| Last updated: January, 2011 | ||||||||
| Última actualización: Enero, 2011 | ||||||||
| PRONÓSTICO - PRODUCTO INTERNO BRUTO DE PANAMÁ POR SECTORES ECONÓMICOS | ||||||||
| (millones de dólares a precios de 1996) | ||||||||
| FORECAST - PANAMA'S GROSS DOMESTIC PRODUCT BY ECONOMIC SECTORS | ||||||||
| (millions of US$ at 1996 constan prices) | ||||||||
| ECONOMIC SECTOR | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| Agriculture | 688.8 | 719.5 | 653.3 | 669.6 | 735.2 | 833.2 | 928.4 | 979.8 |
| Agricultura, ganadería y silvicultura | ||||||||
| Fishing | 356.2 | 412.2 | 397.0 | 290.0 | 318.5 | 355.7 | 393.9 | 423.7 |
| Pesca | ||||||||
| Mining, sand extraction and quarries | 197.8 | 259.0 | 270.4 | 284.7 | 321.1 | 396.9 | 456.6 | 433.8 |
| Minas y canteras | ||||||||
| Manufacturing | 1,126.7 | 1,170.9 | 1,165.7 | 1,174.7 | 1,296.0 | 1,505.3 | 1,693.3 | 1,729.6 |
| Industrias manufactureras | ||||||||
| Power, gas and water | 484.3 | 502.9 | 540.8 | 570.1 | 625.9 | 715.7 | 800.4 | 834.6 |
| Suministro de electricidad, gas y agua | ||||||||
| Construction | 857.1 | 1,120.3 | 1,170.3 | 1,232.2 | 1,381.4 | 1,705.8 | 1,963.4 | 1,859.7 |
| Construcción | ||||||||
| Wholesale and retail, Colon Free Zone | 2,517.7 | 2,695.2 | 2,737.4 | 3,014.0 | 3,233.9 | 3,640.5 | 4,018.7 | 4,154.6 |
| Comercio al por mayor, al por menor y en zonas francas | ||||||||
| Hotels and restaurants | 494.9 | 535.9 | 549.7 | 609.9 | 676.0 | 762.2 | 850.9 | 919.2 |
| Hoteles y restaurantes | ||||||||
| Transportation, warehousing and communications | 3,417.5 | 3,945.8 | 4,206.3 | 4,829.3 | 5,351.9 | 6,050.1 | 6,792.3 | 7,448.7 |
| Transporte, almacenamiento y comunicaciones | ||||||||
| Banking and other financial services | 1,414.7 | 1,614.6 | 1,640.1 | 1,665.8 | 1,733.8 | 1,818.8 | 1,904.7 | 1,976.0 |
| Intermediación financiera | ||||||||
| Real estate and other services | 2,607.7 | 2,795.6 | 2,920.0 | 3,120.1 | 3,420.8 | 3,885.8 | 4,335.7 | 4,565.8 |
| Actividades inmobiliarias y empresariales | ||||||||
| Private and public teaching | 519.3 | 527.7 | 540.6 | 549.2 | 578.4 | 618.6 | 657.9 | 682.9 |
| Enseñanza pública y privada | ||||||||
| Private and public healthcare and social services | 448.6 | 456.9 | 461.8 | 468.4 | 500.2 | 541.5 | 582.8 | 613.2 |
| Servicios sociales y de salud pública y privada | ||||||||
| Other social services | 517.1 | 552.3 | 575.9 | 607.9 | 664.8 | 752.6 | 837.3 | 880.3 |
| Otros servicios sociales | ||||||||
| Public administration and defense | 569.8 | 618.2 | 638.8 | 665.8 | 699.0 | 740.1 | 781.3 | 813.7 |
| Administración pública y defensa | ||||||||
| Private homes with personal services | 112.6 | 114.7 | 113.6 | 115.0 | 118.1 | 121.5 | 125.0 | 128.6 |
| Hogares privados con servicio doméstico | ||||||||
| Net direct taxes on output | 1,133.2 | 1,175.3 | 1,251.0 | 1,366.1 | 1,445.5 | 1,626.5 | 1,800.3 | 1,886.1 |
| Impuesto sobre los productos menos subsidios | ||||||||
| Minus financial services | 379.8 | 403.9 | 430.4 | 446.7 | 411.4 | 434.6 | 456.8 | 467.8 |
| Menos servicios de intermediación financiera | ||||||||
| GROSS DOMESTIC PRODUCT | 17,084.3 | 18,812.9 | 19,402.5 | 20,786.1 | 22,688.9 | 25,636.1 | 28,466.1 | 29,862.9 |
| PRODUCTO INTERNO BRUTO | ||||||||
| Last updated: January, 2011 | ||||||||
| Última actualización: Enero, 2011 | ||||||||
| FORECAST - PANAMA'S GROSS DOMESTIC PRODUCT BY TYPE OF EXPENDITURE | ||||||||
| (millions of US$ at 1996 constan prices) | ||||||||
| PRONÓSTICO - PRODUCTO INTERNO BRUTO DE PANAMA POR TIPO DE GASTO | ||||||||
| (millones de dólares a precios de 1996) | ||||||||
| TYPE OF EXPEDITURE | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
| Private consumption | 10,085.9 | 10,760.6 | 10,862.1 | 11,495.8 | 12,564.3 | 14,218.9 | 15,810.5 | 16,597.0 |
| Gasto de consumo final privado | ||||||||
| Public consumption | 1,822.0 | 1,869.0 | 1,940.4 | 2,020.8 | 2,105.8 | 2,196.6 | 2,292.3 | 2,393.5 |
| Gasto de consumo final público | ||||||||
| Private and public investment | 3,950.3 | 5,115.9 | 4,977.0 | 5,123.9 | 5,770.0 | 7,202.1 | 8,330.2 | 7,829.4 |
| Inversión privada y pública | ||||||||
| Exports | 13,512.5 | 14,905.0 | 14,908.5 | 15,894.5 | 17,288.6 | 18,995.8 | 20,933.1 | 23,141.7 |
| Exportaciones | ||||||||
| Imports | 12,286.4 | 13,837.6 | 13,285.6 | 13,748.9 | 15,039.8 | 16,977.2 | 18,900.0 | 20,098.7 |
| Importaciones | ||||||||
| GROSS DOMESTIC PRODUCT | 17,084.3 | 18,812.9 | 19,402.5 | 20,786.1 | 22,688.9 | 25,636.1 | 28,466.1 | 29,862.9 |
| PRODUCTO INTERNO BRUT | ||||||||
| Last updated: January, 2011 | ||||||||
| Última actualización: Enero, 2011 | ||||||||
