1945

The slowdown in economic activity that had been discernible in Panama since 1998 deepened in 2001, with growth receding to 0.3%, compared with 2.7% in 2000. Consequently, per capita GDP declined (-1.3%) for the first time since 1989. Economic performance was much lower than projected by the authorities at the beginning of the year (3.5%-4%) owing to a contraction in domestic demand (-5.4%), compounded by a very sharp decline in external demand in the last quarter of the year. Together, these factors contributed to an increase in the rate of unemployment.

Related Subject(s): Economic and Social Development
Countries: Nicaragua
/content/books/9789211558388s003-c014
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