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The Panamanian economy is driven by the Panama Canal, insurance industry and shipping. Panama is a Constitutional Democracy.
| Category | Statistic |
| Population |
3,360,000 |
| Population Growth |
1.5 |
| Real GDP |
$23,09 Billion |
| Per Capita GNI PPP |
$10,900 |
| GDP Real Growth Rate |
4.5% |
Panama has imports over 70% of its energy and virtually all of its oil. With an economy driven by the Panama Canal - the largest commodity of which to pass through being petroleum, making importing fuel simple - the Country was slow to adopt a national biofuels program. In 2012 the National Legislature passed a law requiring biofuels be integrated into the national fuel program.
Today, the biofuels issue is starting to have an increasing presence on the country. For example, the production ethanol production based on sugarcane, which is considered an investment alternative for major domestic sugarcane growers has become more popular. Similarly, due to low cost land in rural areas, many biofuel companies in search of land for feedstock plantations have begun to look closely at Panama.
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