Abstract
In 1954, economic activity as a whole remained at the relatively high level of the preceding year, but there was an expansion of internal trade, agriculture, manufacturing and building. Foreign trade progressed more favourably than in 1953 as regards the terms of trade, although the quantum of exports declined. Greater commercial activity within the Republic was attributable to an increase in the purchase of goods and services by the Canal Zone as well as to the fact that more ships were in transit. This traffic contributes to the gross income of Panama through sales by local companies and the expenditure of passengers and crews.
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