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Panama Facts

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South America Continent
 
Central America Map
 
Panama Facts |  Republic of Panama Information | Panama Statistics Panama Facts |  Republic of Panama Information | Panama Statistics
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PANAMANIAN Flag
 
 PANAMANIAN POLITICAL
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Background: 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 transfered 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.
 
 
Common Name: Panama Local Official Name: Panama
Abbreviated Name: Republic of Panama Official Name: Republica de Panama
Official Script Name: Panama Local Common Name: Panama
Former Name: Panama Territory of: NA
 
Head of State: President Martin TORRIJOS Espino
 
Government Type: constitutional democracy
 
Independence: 1903 November 3 (from Colombia; became independent from
 
Constitution: 1972 October 11; major reforms adopted 1978, 1983 and 1
 
National Holiday: Independence Day, 3 November
 
International Organization Participation: CAN (observer), CSN (observer), FAO, G-77, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO, ITU, LAES, LAIA (observer), MIGA, NAM, OAS, OPANAL, OPCW, PCA, RG, UN, UNCTAD, UNESCO, UNIDO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WToO, WTO
 
Administrative Divisions: 9 provinces (provincias, singular - provincia) and 1 territory* (comarca); Bocas del Toro, Chiriqui, Cocle, Colon, Darien, Herrera, Los Santos, Panama, San Blas*, and Veraguas
 
Dependent Areas: NA
 
Legal System: based on civil law system; judicial review of legislative acts in the Supreme Court of Justice; accepts compulsory ICJ jurisdiction, with reservations
 
Suffrage: 18 years
 
Executive, Legislative and Judicial Branches: Executive Branch: 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); note - the president is both the chief of state and head of government 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 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) Legislative Branch: unicameral National Assembly (formerly called Legislative 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 40, PA 17, PS 8, MOLIRENA 3, CD 2, PP 2, PLN 1, other 5 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 Judicial Branch: Supreme Court of Justice or Corte Suprema de Justicia (nine judges appointed for 10-year terms); five superior courts; three courts of appeal
 
Party Leaders: Democratic Change or CD [Ricardo MARTINELLI]; Democratic Revolutionary Party or PRD [Hugo GUIRAUD]; National Liberal Party or PLN [Anibal GALINDO]; Nationalist Republican Liberal Movement or MOLIRENA [Jesus ROSAS]; Panamenista Party or PA (formerly the Arnulfista Party) [Marco AMEGLIO]; Popular Party or PP (formerly Christian Democratic Party or PDC) [Ricardo ARIAS Calderon]; Solidarity Party or PS [Jose Raul MULINO]
 
International Disputes: organized illegal narcotics operations in Colombia operate within the border region with Panama
 
Illicit Drugs: 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 
 
 
 PANAMANIAN GEOGRAPHY
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Location of Panama: Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica
 
Continent: South America Land Area Total: 78,200 sq km 
Region: Central America Land Area Land: 75,990 sq km
Capitol City: Panama Land Area Water: 2,210 sq km
      
Latitude: 009 00 N Border Boundary Land: 555 km
Longitude: 080 00 W Border Boundary Coastline: 2,490 km 
  
Arable Land: 7.26 % Pastures: 0.00 %
Crops: 1.95 % Woodlands and Forests: 0.00
  
Highest Elevation: 3,475 m Location: Volcan de Chiriqui
Lowest Elevation: 0 m Location: Pacific Ocean
  
Largest City in Panama: Panama City Panama City Largest City Population: 1,141,000
  
Threatened Species: 254
 
Environmental Issues: 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
 
Environmental Agreements: party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands, Whaling signed, but not ratified: Marine Life Conservation
 
Irrigated Land: 430
 
Bordering Countries: Colombia 225 km, Costa Rica 330 km
 
Natural Resources: copper, mahogany forests, shrimp, hydropower
 
Geographical Terrain: interior mostly steep, rugged mountains and dissecte
 
Comparative Area of Panama: slightly smaller than South Carolina
 
Panama's Geography: 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
 

 PANAMANIAN CLIMATE
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General Climate: tropical maritime; hot, humid, cloudy; prolonged rainy season (May to January), short dry season (January to May)
 
Natural Hazards: occasional severe storms and forest fires in the Darien area
 
 
 PANAMANIAN ECONOMY
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Economic Overview: Panama's dollarised 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. A slump in the Colon Free Zone and agricultural exports, the global slowdown, and the withdrawal of US military forces held back economic growth in 2000-03; growth picked up in 2004 and 2005 led by export-oriented services and a construction boom stimulated by tax incentives. The government has implemented tax reforms, as well as social security reforms, and backs regional trade agreements and development of tourism. Unemployment remains high.
 
 
GDP: $23,330,000,000 USD Currency: balboa; US dollar
GDP per Capita: $7,400 USD Currency Code: PAB;
GDP Growth Rate: 6.40 %
  
Currency Exchange Rate History: balboas per US dollar - 1 (2005), 1 (2004), 1 (2003), 1 (2002), 1 (2001)
  
  
GDP of Agriculture: 6.80 % GDP of Industry: 15.60 %
GDP of Services: 77.60 %  
   
Inflation Rate: 2.90 % Population in Poverty: 37.00 %
Unemployment Rate: 9.80 % Tourism: 457,000.00 visitors each year
   
Consumption by lowest 10%: 1.20 % Budget Revenue in USD: $3,426,000,000 USD
Consumption by upper 10%: 35.70 % Budget Expenditures in USD: $3,959,000,000 USD
   
Electricity Production: 5,398,000,000 kWh Electricity Exports: 175,000,000 kWh
Electricity Consumption: 4,870,000,000 kWh Electricity Imports: 25,000,000 kWh

Electricity Production by Source:
 
Fossil Fuel Electricity Production: 29.49% Nuclear Electricity Production: 0.00%
Hydro Electricity Production: 69.11% Other Electricity Production: 1.40%
   
Oil Production: 0 barrels per day Natural Gas Production: 0 cu m
Oil Consumption: 78,000 barrels per day Natural Gas Consumption: 0 cu m
Oil Exports: 0 barrels per day Natural Gas Exports: 0 cu m
Oil Imports: 0 barrels per day Natural Gas Imports: 0 cu m
Proven Oil Reserves: 0 barrels Proven Natural Gas Reserves: 0 cu m
   
External Debt: $9,758,000,000 USD Received in economic aid: $197,100,000 USD
  Donated in economic aid: $0 USD
   
Agricultural Products: bananas, rice, corn, coffee, sugarcane, vegetables; livestock; shrimp
 
Primary Industries: construction, brewing, cement and other construction materials, sugar milling
 
Industrial Growth Rate: 1.70 %
  
  
Import Amount in USD: $8,734,000,000 USD - capital goods, foodstuffs, consumer goods, chemicals
 
Import Partners: US 27.5%, Netherlands Antilles 11.4%, Costa Rica 4.7%, Japan 4.5%
 
Export Amount in USD: $7,481,000,000 USD - bananas, shrimp, sugar, coffee, clothing
 
Export Partners: US 44.9%, Spain 8.9%, Sweden 5.6%, Netherlands 4.9%, Costa Rica 4%
 
    
GINI Index: 56.40%
 
Labor Force Number of People: 1,390,000
 
Labor Force by Occupations: agriculture 20.8%, industry 18%, services 61.2%
 
  
 PANAMANIAN COMMUNICATIONS
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Radio Broadcast Stations: 235 Number of People with Radios: 815,000
Television Broadcast Stations: 38 Number of People with Televisions: 510,000
Number of People with Mainline Telephones: 440,100 Number of People with Mobile Phones: 1,352,000
 
Internet Service Providers: 7,149 Internet Users: 300,000
 
Internet Country Code: .pa Newspapers: 62
Two Letter Country Code: PM Weights and Measures:
Phone Country Code: 507 Electricity Voltage: 110 Volts
  
Telephone Systems: general assessment: domestic and international facilities well developed domestic: NA international: country code - 507; 1 coaxial submarine cable; satellite earth stations - 2 Intelsat (Atlantic Ocean); connected to the Central American Microwave System
 
  
 PANAMANIAN TRANSPORTATION
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Highways: 4,028 km Railways: 355 km
Gas And Oil Pipelines: 0 km Waterways: 800 km
Airports: 53 Heliports: 0
 
Motor Vehicles: 102 per 1,000 people CO2 Emissions: 7,654,000 Metric Tons of CO2 per year
  Per capita CO2 emissions: 2.80 Metric Tons of CO2 per year
  
Merchant Marines: total: 5,473 ships (1000 GRT or over) 146,511,342 GRT/219,940,567 DWT by type: barge carrier 1, bulk carrier 1,776, cargo 992, chemical tanker 476, combination ore/oil 2, container 663, liquefied gas 193, livestock carrier 7, passenger 49, passenger/cargo 77, petroleum tanker 518, refrigerated cargo 299, roll on/roll off 123, specialized tanker 23, vehicle carrier 274 foreign-owned: 4,922 (Anguilla 1, Argentina 9, Australia 3, Bahamas, The 2, Belgium 11, Bermuda 1, Bulgaria 1, Canada 4, Chile 9, China 420, Colombia 5, Croatia 5, Cuba 11, Cyprus 14, Denmark 34, Egypt 16, Estonia 3, France 15, Gabon 1, Germany 35, Greece 524, Hong Kong 169, India 19, Indonesia 50, Iran 4, Ireland 2, Israel 6, Italy 15, Japan 2007, Jordan 13, South Korea ( ( (291, Kuwait 2, Latvia 3, Lebanon 2, Lithuania 5, Malaysia 13, Maldives 1, Malta 3, Mexico 5, Monaco 9, Morocco 1, Netherlands 21, Nigeria 7, Norway 66, Pakistan 3, Peru 15, Philippines 13, Poland 15, Portugal 10, Qatar 1, Romania 9, Russia 7, Saudi Arabia 8, Singapore 67, South Africa 3, Spain 53, Sri Lanka 5, Sudan 1, Sweden 5, Switzerland 226, Syria 18, Taiwan 308, Thailand 9, Trinidad and Tobago 1, Turkey 42, UAE 105, UK 37, Ukraine 8, US 94, Venezuela 14, Vietnam 4, Yemen 3) registered in other countries: 1 (Venezuela 1)
 
Ports and Harbors: Balboa, Colon, Cristobal
 
  
 PANAMANIAN PEOPLE
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Population: 3,191,319 people type - nationality Birth Rate: 21.74 births per 1,000 people
Population Density: 41.00 people per sq km Death Rate: 5.36 deaths per 1,000 people
Population Growth: 1.60% per year Fertility Rate per Women: 2.68 babies born per woman
 
Population Male 0-14: 492,403 Population Female 0-14: 472,996
Population Male 15-64: 1,025,898 Population Female 15-64: 998,926
Population Male 65+: 94,122 Population Female 65+: 106,974
 
Population 0-14: 30.30% Literacy Rate: 92.60%
Population 15-64: 63.40% Literacy rate of Males: 93.20%
Population 65+: 6.30% Literacy rate of Females: 91.90%
 
Population that is Male: 51.00 % Population that is Female: 49.00%
Life expectancy at birth in years: 75.22 years Infant mortality rate - baby deaths per 1000 births: 16.37 Babies die per 1,000 births
Life expectancy at birth for Males: 72.68 years Life expectancy at birth for Females: 77.87 years
 
Rate of AIDS/HIV infection: 0.90% Number of people living with AIDS or HIV: 16,000
Number of people who died of AIDS: 0
   
Disease Risk:
 
Diseases:
 
Net Migration Rate per 1,000 people: -0.40
 
Nationality: PANAMANIAN
 
Ethnic Groups: mestizo (mixed Amerindian and white) 70%, Amerindian and mixed (West Indian) 14%, white 10%, Amerindian 6% 
 
  
Primary Language: Spanish
 
Other Languages: Spanish (official), English 14%; note - many Panamanians bilingual
 
 
Primary Religion: Roman Catholic
 
Other Religions: Roman Catholic 85%, Protestant 15%
 
  
 PANAMANIAN MILITARY
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Branches: 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)
 
Manpower Fit to Serve: NA years
 
Manpower Available: 751,065 People
 
Manpower Fit to Serve: 591,604 People
 
Amount of Manpower Available each Year: 29,724 People per year
 
Expenditures: $0 USD per year
 
Expenditures as a Percentage of GDP: 1.00
 
 
Note: Phrasebase uses a variety of sources when compiling the facts and information presented above. This information is continually updated throughout the year.
 PANAMANIAN RESOURCES
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Panama Spa and Resort Directory
 
Panama Home Exchanges and Home Swaps
 
Panama Vacation Rentals And Holiday Villas
 

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