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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.
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Common Name: Panama
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Local Official Name: Panama
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Abbreviated Name: Republic of Panama
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Official Name: Republica de Panama
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Official Script Name: Panama
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Local Common Name: Panama
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Former Name: Panama
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Territory of: NA
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Head of State: President Martin TORRIJOS Espino
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Government Type: constitutional democracy
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Independence: 1903 November 3 (from Colombia; became independent from
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Constitution: 1972 October 11; major reforms adopted 1978, 1983 and 1
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National Holiday: Independence Day, 3 November
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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
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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
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Dependent Areas: NA
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Legal System: 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: 18 years
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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
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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]
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International Disputes: organized illegal narcotics operations in Colombia operate within the border region with Panama
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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
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Location of Panama: Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica
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Continent: South America
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Land Area Total: 78,200 sq km
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Region: Central America |
Land Area Land: 75,990 sq km
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Capitol City: Panama
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Land Area Water: 2,210 sq km
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Current: -5
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Latitude: 009 00 N
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Border Boundary Land: 555 km
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Longitude: 080 00 W
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Border Boundary Coastline: 2,490 km
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Arable Land: 7.26 %
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Pastures: 0.00 %
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Crops: 1.95 %
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Woodlands and Forests: 0.00
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Highest Elevation: 3,475 m
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Location: Volcan de Chiriqui
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Lowest Elevation: 0 m
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Location: Pacific Ocean
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Largest City in Panama: Panama City
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Panama City Largest City Population: 1,141,000
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Threatened Species: 254
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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
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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
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Irrigated Land: 430
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Bordering Countries: Colombia 225 km, Costa Rica 330 km
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Natural Resources: copper, mahogany forests, shrimp, hydropower
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Geographical Terrain: interior mostly steep, rugged mountains and dissecte
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Comparative Area of Panama: slightly smaller than South Carolina
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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
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Click Here for detailed information about the weather conditions in Panama.
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General Climate: tropical maritime; hot, humid, cloudy; prolonged rainy season (May to January), short dry season (January to May)
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Natural Hazards: occasional severe storms and forest fires in the Darien area
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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.
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GDP: $23,330,000,000 USD
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Currency: balboa; US dollar
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GDP per Capita: $7,400 USD
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Currency Code: PAB;
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GDP Growth Rate: 6.40 %
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One $USD Equals: %fincurrencyequals% PAB;
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Currency Exchange Rate History: balboas per US dollar - 1 (2005), 1 (2004), 1 (2003), 1 (2002), 1 (2001)
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GDP of Agriculture: 6.80 %
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GDP of Industry: 15.60 %
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GDP of Services: 77.60 % |
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Inflation Rate: 2.90 % |
Population in Poverty: 37.00 %
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Unemployment Rate: 9.80 %
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Tourism: 457,000.00 visitors each year
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Consumption by lowest 10%: 1.20 %
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Budget Revenue in USD: $3,426,000,000 USD
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Consumption by upper 10%: 35.70 %
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Budget Expenditures in USD: $3,959,000,000 USD
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Electricity Production: 5,398,000,000 kWh
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Electricity Exports: 175,000,000 kWh
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Electricity Consumption: 4,870,000,000 kWh
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Electricity Imports: 25,000,000 kWh
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Electricity Production by Source:
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Fossil Fuel Electricity Production: 29.49%
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Nuclear Electricity Production: 0.00%
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Hydro Electricity Production: 69.11%
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Other Electricity Production: 1.40%
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Oil Production: 0 barrels per day
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Natural Gas Production: 0 cu m
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Oil Consumption: 78,000 barrels per day
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Natural Gas Consumption: 0 cu m
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Oil Exports: 0 barrels per day
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Natural Gas Exports: 0 cu m
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Oil Imports: 0 barrels per day
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Natural Gas Imports: 0 cu m
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Proven Oil Reserves: 0 barrels
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Proven Natural Gas Reserves: 0 cu m
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External Debt: $9,758,000,000 USD |
Received in economic aid: $197,100,000 USD
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Donated in economic aid: $0 USD
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Agricultural Products: bananas, rice, corn, coffee, sugarcane, vegetables; livestock; shrimp
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Primary Industries: construction, brewing, cement and other construction materials, sugar milling
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Industrial Growth Rate: 1.70 %
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Import Amount in USD: $8,734,000,000 USD - capital goods, foodstuffs, consumer goods, chemicals
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Import Partners: US 27.5%, Netherlands Antilles 11.4%, Costa Rica 4.7%, Japan 4.5%
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Export Amount in USD: $7,481,000,000 USD - bananas, shrimp, sugar, coffee, clothing
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Export Partners: US 44.9%, Spain 8.9%, Sweden 5.6%, Netherlands 4.9%, Costa Rica 4%
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GINI Index: 56.40%
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Labor Force Number of People: 1,390,000
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Labor Force by Occupations: agriculture 20.8%, industry 18%, services 61.2%
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Radio Broadcast Stations: 235 |
Number of People with Radios: 815,000 |
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Television Broadcast Stations: 38 |
Number of People with Televisions: 510,000 |
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Number of People with Mainline Telephones: 440,100 |
Number of People with Mobile Phones: 1,352,000 |
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Internet Service Providers: 7,149 |
Internet Users: 300,000 |
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Internet Country Code: .pa |
Newspapers: 62 |
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Two Letter Country Code: PM |
Weights and Measures: |
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Phone Country Code: 507 |
Electricity Voltage: 110 Volts |
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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
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Highways: 4,028 km |
Railways: 355 km
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Gas And Oil Pipelines: 0 km |
Waterways: 800 km
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Airports: 53 |
Heliports: 0
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Motor Vehicles: 102 per 1,000 people |
CO2 Emissions: 7,654,000 Metric Tons of CO2 per year |
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Per capita CO2 emissions: 2.80 Metric Tons of CO2 per year |
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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)
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Ports and Harbors: Balboa, Colon, Cristobal
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Population: 3,191,319 people type - nationality |
Birth Rate: 21.74 births per 1,000 people |
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Population Density: 41.00 people per sq km |
Death Rate: 5.36 deaths per 1,000 people |
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Population Growth: 1.60% per year |
Fertility Rate per Women: 2.68 babies born per woman |
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Population Male 0-14: 492,403 |
Population Female 0-14: 472,996 |
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Population Male 15-64: 1,025,898 |
Population Female 15-64: 998,926 |
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Population Male 65+: 94,122 |
Population Female 65+: 106,974 |
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Population 0-14: 30.30% |
Literacy Rate: 92.60% |
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Population 15-64: 63.40% |
Literacy rate of Males: 93.20% |
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Population 65+: 6.30% |
Literacy rate of Females: 91.90% |
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Population that is Male: 51.00
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Population that is Female: 49.00% |
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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 |
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Life expectancy at birth for Males: 72.68 years |
Life expectancy at birth for Females: 77.87 years |
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Rate of AIDS/HIV infection: 0.90%
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Number of people living with AIDS or HIV: 16,000
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Number of people who died of AIDS: 0 |
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Disease Risk:
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Diseases:
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Net Migration Rate per 1,000 people: -0.40
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Nationality: PANAMANIAN
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Ethnic Groups: mestizo (mixed Amerindian and white) 70%, Amerindian and mixed (West Indian) 14%, white 10%, Amerindian 6%
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Primary Language: Spanish
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Other Languages: Spanish (official), English 14%; note - many Panamanians bilingual
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Primary Religion: Roman Catholic
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Other Religions: Roman Catholic 85%, Protestant 15%
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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)
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Manpower Fit to Serve: NA years
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Manpower Available: 751,065 People
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Manpower Fit to Serve: 591,604 People
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Amount of Manpower Available each Year: 29,724 People per year
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Expenditures: $0 USD per year
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Expenditures as a Percentage of GDP: 1.00
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Note: Phrasebase uses a variety of sources when compiling the facts and information presented above. This information is continually updated throughout the year.
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