It was inhabited by indigenous tribes before Spanish colonists arrived in the 16th century. It broke away from Spain in 1821 and joined the Republic of Gran Colombia, a union of Nueva Granada, Ecuador, and Venezuela. After Gran Colombia dissolved in 1831,Panama and Nueva Granada eventually became the Republic of Colombia. With the backing of the US, It seceded from Colombia in 1903, allowing the construction of the Panama Canal by the US Army Corps of Engineers between 1904 and 1914
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Economy: It is based mainly on the services sector, which accounts for nearly 80% of its GDP and accounts for most of its foreign income. Services include the Panama Canal, banking, commerce, the Colón Free Trade Zone, insurance, container ports, and flagship registry, medical and health and tourism. The country's industry includes manufacturing of aircraft spare parts, cement, drinks, adhesives and textiles. Additionally, exports from Panama include bananas, shrimp, sugar, coffee, and clothing.
panama
