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Background:
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Explored and settled by the Spanish in the 16th century, Panama broke
with Spain in 1821 and joined a union of Colombia, Venezuela, and
Ecuador - named the Republic of Gran Colombia. When the latter
dissolved in 1830, Panama remained part of Colombia. With US backing,
Panama seceded from Colombia in 1903 and promptly signed a treaty with
the US allowing for the construction of a canal and US sovereignty over
a strip of land on either side of the structure (the Panama Canal
Zone). The Panama Canal was built by the US Army Corps of Engineers
between 1904 and 1914. In 1977, an agreement was signed for the
complete transfer of the Canal from the US to Panama by the end of the
century. Certain portions of the Zone and increasing responsibility
over the Canal were turned over in the subsequent decades. With US
help, dictator Manuel NORIEGA was deposed in 1989. The entire Panama
Canal, the area supporting the Canal, and remaining US military bases
were transferred to Panama by the end of 1999. In October 2006,
Panamanians approved an ambitious plan to expand the Canal. The
project, which is to begin in 2007 and could double the Canal's
capacity, is expected to be completed in 2014-15. |
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Location:
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Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica
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Geographic coordinates:
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9 00 N, 80 00 W
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Map references:
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Central America and the Caribbean
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Area:
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total: 78,200 sq km
land: 75,990 sq km
water: 2,210 sq km
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Area - comparative:
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slightly smaller than South Carolina
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Land boundaries:
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total: 555 km
border countries: Colombia 225 km, Costa Rica 330 km
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Coastline:
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2,490 km
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Maritime claims:
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territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm or edge of continental margin
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Climate:
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tropical maritime; hot, humid, cloudy; prolonged rainy season (May to January), short dry season (January to May)
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Terrain:
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interior mostly steep, rugged mountains and dissected, upland plains; coastal areas largely plains and rolling hills
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Elevation extremes:
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lowest point: Pacific Ocean 0 m
highest point: Volcan Baru 3,475 m
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Natural resources:
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copper, mahogany forests, shrimp, hydropower
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Land use:
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arable land: 7.26%
permanent crops: 1.95%
other: 90.79% (2005)
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Irrigated land:
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430 sq km (2003)
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Total renewable water resources:
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148 cu km (2000)
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Freshwater withdrawal (domestic/industrial/agricultural):
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Total: 0.82 cu km/yr (67%/5%/28%)
Per capita: 254 cu m/yr (2000)
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Natural hazards:
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occasional severe storms and forest fires in the Darien area
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Environment - current issues:
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water pollution from agricultural runoff threatens fishery resources;
deforestation of tropical rain forest; land degradation and soil
erosion threatens siltation of Panama Canal; air pollution in urban
areas; mining threatens natural resources |
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Environment - international agreements:
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party to:
Biodiversity, Climate Change, Climate Change-Kyoto Protocol,
Desertification, Endangered Species, Hazardous Wastes, Law of the Sea,
Marine Dumping, Ozone Layer Protection, Ship Pollution, Tropical Timber
83, Tropical Timber 94, Wetlands, Whaling
signed, but not ratified: Marine Life Conservation
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Geography - note:
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strategic location on eastern end of isthmus forming land bridge
connecting North and South America; controls Panama Canal that links
North Atlantic Ocean via Caribbean Sea with North Pacific Ocean |
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Population:
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3,242,173 (July 2007 est.)
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Age structure:
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0-14 years: 30% (male 496,195/female 476,508)
15-64 years: 63.6% (male 1,044,139/female 1,016,805)
65 years and over: 6.4% (male 97,365/female 111,161) (2007 est.)
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Median age:
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total: 26.4 years
male: 26 years
female: 26.7 years (2007 est.)
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Population growth rate:
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1.564% (2007 est.)
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Birth rate:
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21.45 births/1,000 population (2007 est.)
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Death rate:
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5.44 deaths/1,000 population (2007 est.)
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Net migration rate:
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-0.37 migrant(s)/1,000 population (2007 est.)
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Sex ratio:
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at birth: 1.05 male(s)/female
under 15 years: 1.041 male(s)/female
15-64 years: 1.027 male(s)/female
65 years and over: 0.876 male(s)/female
total population: 1.021 male(s)/female (2007 est.)
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Infant mortality rate:
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total: 15.96 deaths/1,000 live births
male: 17.33 deaths/1,000 live births
female: 14.54 deaths/1,000 live births (2007 est.)
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Life expectancy at birth:
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total population: 75.19 years
male: 72.69 years
female: 77.8 years (2007 est.)
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Total fertility rate:
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2.66 children born/woman (2007 est.)
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HIV/AIDS - adult prevalence rate:
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0.9% (2003 est.)
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HIV/AIDS - people living with HIV/AIDS:
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16,000 (2003 est.)
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HIV/AIDS - deaths:
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less than 500 (2003 est.)
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Nationality:
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noun: Panamanian(s)
adjective: Panamanian
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Ethnic groups:
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mestizo (mixed Amerindian and white) 70%, Amerindian and mixed (West Indian) 14%, white 10%, Amerindian 6%
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Religions:
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Roman Catholic 85%, Protestant 15%
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Languages:
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Spanish (official), English 14%; note - many Panamanians bilingual
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Literacy:
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definition: age 15 and over can read and write
total population: 91.9%
male: 92.5%
female: 91.2% (2000 census)
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Country name:
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conventional long form: Republic of Panama
conventional short form: Panama
local long form: Republica de Panama
local short form: Panama
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Government type:
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constitutional democracy
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Capital:
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name: Panama
geographic coordinates: 8 58 N, 79 32 W
time difference: UTC-5 (same time as Washington, DC during Standard Time)
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Administrative divisions:
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9 provinces (provincias, singular - provincia) and 1 territory*
(comarca); Bocas del Toro, Chiriqui, Cocle, Colon, Darien, Herrera, Los
Santos, Panama, San Blas*(Kuna Yala), and Veraguas |
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Independence:
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3 November 1903 (from Colombia; became independent from Spain 28 November 1821)
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National holiday:
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Independence Day, 3 November (1903)
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Constitution:
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11 October 1972; major reforms adopted 1978, 1983, 1994, and 2004
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Legal system:
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based on civil law system; judicial review of legislative acts in the
Supreme Court of Justice; accepts compulsory ICJ jurisdiction with
reservations |
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Suffrage:
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18 years of age; universal and compulsory
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Executive branch:
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chief of state:
President Martin TORRIJOS Espino (since 1 September 2004); First Vice
President Samuel LEWIS Navarro (since 1 September 2004); Second Vice
President Ruben AROSEMENA Valdes (since 1 September 2004); note - the
president is both the chief of state and head of government
head of government: President Martin TORRIJOS Espino
(since 1 September 2004); First Vice President Samuel LEWIS Navarro
(since 1 September 2004); Second Vice President Ruben AROSEMENA Valdes
(since 1 September 2004)
cabinet: Cabinet appointed by the president
elections:
president and vice presidents elected on the same ticket by popular
vote for five-year terms (eligible for two more terms); election last
held 2 May 2004 (next to be held on 3 May 2009); note - beginning in
2009, Panama will have only one vice president.
election results: Martin TORRIJOS Espino elected
president; percent of vote - Martin TORRIJOS Espino 47.5%, Guillermo
ENDARA Galimany 30.6%, Jose Miguel ALEMAN 17%, Ricardo MARTINELLI 4.9%
note: government coalition - PRD (Democratic Revolutionary Party), PP (Popular Party)
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Legislative branch:
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unicameral National Assembly or Asamblea Nacional (78 seats; members
are elected by popular vote to serve five-year terms); note - in 2009,
the number of seats will change to 71
elections: last held 2 May 2004 (next to be held 3 May 2009)
election results: percent of vote by party - NA; seats by party - PRD 41, PA 17, PS 9, MOLIRENA 4, CD 3, PLN 3, PP 1
note:
legislators from outlying rural districts are chosen on a plurality
basis while districts located in more populous towns and cities elect
multiple legislators by means of a proportion-based formula |
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Judicial branch:
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Supreme Court of Justice or Corte Suprema de Justicia (nine judges
appointed for 10-year terms); five superior courts; three courts of
appeal |
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Political parties and leaders:
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Democratic Change or CD [Ricardo MARTINELLI]; Democratic Revolutionary
Party or PRD [Hugo GUIRAUD]; Nationalist Republican Liberal Movement or
MOLIRENA [Gisela CHUNG]; Panamenista Party or PA [Juan Carlos VARELA]
(formerly the Arnulfista Party); Patriotic Union Party or PU
(combination of the Liberal National Party or PLN and the Solidarity
Party or PS)[Jose Raul MULINO and Anibal GALINDO]; Popular Party or PP
[Rene ORILLAC] (formerly Christian Democratic Party or PDC) |
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Political pressure groups and leaders:
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Chamber of Commerce; National Civic Crusade; National Council of
Organized Workers or CONATO; National Council of Private Enterprise or
CONEP; National Union of Construction and Similar Workers (SUNTRACS);
Panamanian Association of Business Executives or APEDE; Panamanian
Industrialists Society or SIP; Workers Confederation of the Republic of
Panama or CTRP |
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International organization participation:
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BCIE, CAN (observer), CSN (observer), FAO, G-77, IADB, IAEA, IBRD,
ICAO, ICC, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO,
Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, LAES, LAIA (observer),
MIGA, NAM, OAS, OPANAL, OPCW, PCA, RG, UN, UN Security Council
(temporary), UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WCL, WCO,
WFTU, WHO, WIPO, WMO, WTO |
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Diplomatic representation in the US:
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chief of mission: Ambassador Federico HUMBERT Arias
chancery: 2862 McGill Terrace NW, Washington, DC 20008
telephone: [1] (202) 483-1407
FAX: [1] (202) 483-8416
consulate(s) general: Atlanta, Houston, Miami, New Orleans, New York, Philadelphia, San Francisco, San Juan (Puerto Rico), Tampa
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Diplomatic representation from the US:
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chief of mission: Ambassador William A. EATON
embassy: Edificio 783, Avenida Demetrio Basilio Lakas Panama, Apartado Postal 0816-02561, Zona 5, Panama City 5
mailing address: American Embassy Panama, Unit 0945, APO AA 34002
telephone: [507] 207-7000
FAX: [507] 227-1964
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Flag description:
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divided into four, equal rectangles; the top quadrants are white (hoist
side) with a blue five-pointed star in the center and plain red; the
bottom quadrants are plain blue (hoist side) and white with a red
five-pointed star in the center |
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Economy - overview:
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Panama's dollarized economy rests primarily on a well-developed
services sector that accounts for three-fourths of GDP. Services
include operating the Panama Canal, banking, the Colon Free Zone,
insurance, container ports, flagship registry, and tourism. Economic
growth will be bolstered by the Panama Canal expansion project that
began in 2007 and should be completed by 2014 at a cost of $5.3 billion
(about 30% of current GDP). The expansion project will more than double
the Canal's capacity, enabling it to accommodate ships that are now too
large to transverse the transoceanic crossway and should help to reduce
the high unemployment rate. The government has implemented tax reforms,
as well as social security reforms, and backs regional trade agreements
and development of tourism. Not a CAFTA signatory, Panama in December
2006 independently negotiated a free trade agreement with the US,
which, when implemented, will help promote the country's economic
growth. |
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GDP (purchasing power parity):
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$29.14 billion (2007 est.)
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GDP (official exchange rate):
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$18.17 billion (2007 est.)
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GDP - real growth rate:
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7.8% (2007 est.)
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GDP - per capita (PPP):
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$9,000 (2007 est.)
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GDP - composition by sector:
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agriculture: 6.8%
industry: 16.2%
services: 77% (2007 est.)
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Labor force:
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1.471 million
note: shortage of skilled labor, but an oversupply of unskilled labor (2007 est.)
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Labor force - by occupation:
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agriculture: 15%
industry: 18%
services: 67% (2006)
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Unemployment rate:
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7.2% (2007 est.)
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Population below poverty line:
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37% (1999 est.)
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Household income or consumption by percentage share:
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lowest 10%: 0.7%
highest 10%: 43% (2003)
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Distribution of family income - Gini index:
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56.1 (2003)
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Inflation rate (consumer prices):
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5.1% (2007 est.)
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Investment (gross fixed):
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20.5% of GDP (2007 est.)
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Budget:
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revenues: $5.206 billion
expenditures: $5.089 billion (2007 est.)
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Public debt:
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53.6% of GDP (2007 est.)
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Agriculture - products:
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bananas, rice, corn, coffee, sugarcane, vegetables; livestock; shrimp
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Industries:
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construction, brewing, cement and other construction materials, sugar milling
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Industrial production growth rate:
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7.8% (2007 est.)
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Electricity - production:
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5.661 billion kWh (2005)
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Electricity - production by source:
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fossil fuel: 37%
hydro: 61.3%
nuclear: 0%
other: 1.7% (2001)
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Electricity - consumption:
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4.735 billion kWh (2005)
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Electricity - exports:
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51 million kWh (2005)
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Electricity - imports:
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55 million kWh (2005)
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Oil - production:
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0 bbl/day (2005 est.)
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Oil - consumption:
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93,000 bbl/day (2006 est.)
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Oil - exports:
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4,140 bbl/day (2004)
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Oil - imports:
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92,170 bbl/day (2004)
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Oil - proved reserves:
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0 bbl (1 January 2006 est.)
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Natural gas - production:
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0 cu m (2005 est.)
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Natural gas - consumption:
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0 cu m (2005 est.)
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Natural gas - exports:
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0 cu m (2005 est.)
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Natural gas - imports:
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0 cu m (2005)
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Natural gas - proved reserves:
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0 cu m (1 January 2006 est.)
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Current account balance:
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$-861 million (2007 est.)
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Exports:
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$9.662 billion f.o.b.; note - includes the Colon Free Zone (2007 est.)
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Exports - commodities:
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bananas, shrimp, sugar, coffee, clothing
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Exports - partners:
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US 39.8%, Spain 8.1%, Netherlands 6.7%, Sweden 5.6%, Costa Rica 4.5% (2006)
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Imports:
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$12.1 billion f.o.b. (includes the Colon Free Zone) (2007 est.)
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Imports - commodities:
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capital goods, foodstuffs, consumer goods, chemicals
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Imports - partners:
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US 27%, Netherlands Antilles 10.1%, Costa Rica 5.1%, Japan 4.7% (2006)
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Economic aid - recipient:
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$19.54 million (2005)
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Reserves of foreign exchange and gold:
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$1.26 billion (31 December 2007 est.)
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Debt - external:
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$10.56 billion (31 December 2007 est.)
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Stock of direct foreign investment - at home:
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$NA
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Stock of direct foreign investment - abroad:
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$NA
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Market value of publicly traded shares:
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$5.074 billion (2005)
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Currency (code):
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balboa (PAB); US dollar (USD)
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Currency code:
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PAB; USD
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Exchange rates:
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balboas per US dollar - 1 (2007), 1 (2006), 1 (2005), 1 (2004), 1 (2003)
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Fiscal year:
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calendar year
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Telephones - main lines in use:
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432,900 (2006)
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Telephones - mobile cellular:
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1.694 million (2005)
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Telephone system:
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general assessment: domestic and international facilities well developed
domestic: combined fixed-line and mobile-cellular telephone density is approaching 70 telephones per 100 persons
international:
country code - 507; landing point for the Americas Region Caribbean
Ring System (ARCOS-1), the MAYA-1, and PAN-AM submarine cable systems
that together provide links to the US, and parts of the Caribbean,
Central America, and South America; satellite earth stations - 2
Intelsat (Atlantic Ocean); connected to the Central American Microwave
System |
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Radio broadcast stations:
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AM 101, FM 134, shortwave 0 (1998)
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Radios:
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815,000 (1997)
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Television broadcast stations:
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38 (including repeaters) (1998)
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Televisions:
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510,000 (1997)
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Internet country code:
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.pa
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Internet hosts:
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7,078 (2007)
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Internet Service Providers (ISPs):
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6 (2000)
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Internet users:
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220,000 (2006)
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Airports:
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116 (2007)
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Airports - with paved runways:
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total: 54
over 3,047 m: 1
2,438 to 3,047 m: 1
1,524 to 2,437 m: 5
914 to 1,523 m: 18
under 914 m: 29 (2007)
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Airports - with unpaved runways:
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total: 62
1,524 to 2,437 m: 1
914 to 1,523 m: 11
under 914 m: 50 (2007)
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Heliports:
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2 (2007)
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Railways:
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total: 355 km
standard gauge: 77 km 1.435-m gauge
narrow gauge: 278 km 0.914-m gauge (2006)
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Roadways:
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total: 11,643 km
paved: 4,028 km
unpaved: 7,615 km (2000)
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Waterways:
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800 km (includes 82 km Panama Canal) (2007)
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Merchant marine:
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total: 5,764 ships (1000 GRT or over) 159,649,801 GRT/240,190,316 DWT
by type:
barge carrier 2, bulk carrier 1,940, cargo 1,034, carrier 3, chemical
tanker 507, combination ore/oil 6, container 710, liquefied gas 191,
livestock carrier 7, passenger 46, passenger/cargo 72, petroleum tanker
522, refrigerated cargo 288, roll on/roll off 129, specialized tanker
22, vehicle carrier 285
foreign-owned: 4,949 (Albania 1, Argentina 8, Australia
4, Bahamas 2, Bangladesh 1, Belgium 11, Bulgaria 1, Canada 17, Chile 8,
China 473, Colombia 4, Croatia 6, Cuba 11, Cyprus 15, Denmark 32,
Dominican Republic 1, Ecuador 2, Egypt 13, Estonia 3, France 15, Gabon
1, Germany 38, Greece 505, Hong Kong 137, India 25, Indonesia 37, Iran
4, Ireland 1, Israel 2, Italy 10, Jamaica 1, Japan 2,151, Jordan 11,
South Korea 316, Kuwait 1, Latvia 5, Lebanon 3, Lithuania 5, Malaysia
14, Maldives 1, Malta 2, Mexico 4, Monaco 11, Netherlands 14, Nigeria
6, Norway 60, Oman 1, Pakistan 5, Peru 15, Philippines 12, Poland 15,
Portugal 9, Qatar 1, Romania 8, Russia 9, Saudi Arabia 14, Singapore
83, Spain 61, Sri Lanka 3, Sweden 9, Switzerland 26, Syria 24, Taiwan
306, Thailand 10, Turkey 53, Turks and Caicos Islands 1, Ukraine 8, UAE
108, UK 35, US 115, Venezuela 10, Vietnam 10, Yemen 5)
registered in other countries: 1 (Venezuela 1) (2007)
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Ports and terminals:
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Balboa, Colon, Cristobal
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Military branches:
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an amendment to the Constitution abolished the armed forces, but there
are security forces (Panamanian Public Forces or PPF includes the
Panamanian National Police, National Maritime Service, and National Air
Service) |
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Manpower available for military service:
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males age 18-49: 751,065 (2005 est.)
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Manpower fit for military service:
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males age 18-49: 591,604 (2005 est.)
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Manpower reaching military service age annually:
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males age 18-49: 29,724
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Military expenditures - percent of GDP:
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1% (2006)
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Military - note:
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on 10 February 1990, the government of then President ENDARA abolished
Panama's military and reformed the security apparatus by creating the
Panamanian Public Forces; in October 1994, Panama's Legislative
Assembly approved a constitutional amendment prohibiting the creation
of a standing military force, but allowing the temporary establishment
of special police units to counter acts of "external aggression" |
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Disputes - international:
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organized illegal narcotics operations in Colombia operate within the remote border region with Panama
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Illicit drugs:
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major cocaine transshipment point and primary money-laundering center
for narcotics revenue; money-laundering activity is especially heavy in
the Colon Free Zone; offshore financial center; negligible signs of
coca cultivation; monitoring of financial transactions is improving;
official corruption remains a major problem |
This page was last updated on 12 February, 2008
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