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General Information

  • The Republic of Panama forms part of Central America; it is bordered by Costa Rica to the west, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south.

  • The capital and largest city is Panama City whose metropolitan area is home to nearly half of the 3.864.000 habitants.  

  • Prior to the European presence, Panama was inhabited by several indigenous tribes: Emberá –Wounaan; Kuna Yala; Ngobe - Buglé; Kuna de Madugandi and Kuna de Wargandi, among others.

  • Independence:
    • From Spain: 28 November 1821.
    • From Colombia: 3 November 1903.

  • Panama seceded from Colombia in 1903, allowing the Panama Cana lto be built by the United States Army Corps of Engineers, between 1904 and 1914; in 1977 an agreement was signed for the total transfer of the Canal from the United States to Panama by the end of the 20th century, which culminated on 31 December 1999.

  • The word Panama means in the indigenous language “abundance of fish”.

  • Official language: Spanish

  • Government: Presidential Constitutional Republic; President and Vice President are elected in one list for a period of five years.  
    • President: Juan Carlos Varela Rodríguez; term of office: 1 July 2014 – incumbent
    • Vice President: Isabel de Saint Malo de Alvarado, and she is the Minister of Foreign Affairs of Panama.

  • Political Parties:
    • Democratic Revolutionary Party (Social Democracy): 26 deputies.
    • Panameñista Party (National Conservatism): 16 deputies.
    • Democratic Change (Liberal Conservatism): 25 deputies.
    • People´s party (Christian Democracy): 1 deputy.
    • National Republican Liberal (Liberalism): 2 deputies.

  • Population: 2015 estimated   3.864.00

                     : 2010 census      3.405.813


  • Density: 45.9 / km2

  • GDP (nominal) (2016 estimate)   $ 52.13 billions

  • Per capita (2016 estimate)   $ 11.849

  • Inflation: 0.89 (official information)

  • Unemployment: 5.8 % (official information)

  • Area: 74.177,3 km2

  • Religion: Christian (Catholic)

  • Currency: Balboa (in fact the currency used in Panama is the United States Dollar, where 1 Balboa = 1 Dollar)

  • Time Zone: EST (UTC – 5)

  • Drives: on the right.

  • Calling code:  +507

  • Internet TLD:     pa. 

  • Main mineral wealth: copper, silver, gold, iron.

  • The most important agricultural products: sugarcane, fruit, coffee, maize, rice, pineapple, bananas.

  • Livestock: livestock, poultry, fisheries.

  • GDP (nominal) (2016 estimate)   $ 52.13 billions

  • GDP Per capita  (2016 estimate)   $ 11.849

  • Ratio of debt to national income 38%

  • Export volume: $ 17.2 billion.

  • Taxes: ($ 3.949 million) 2.05% of GDP.

  • The maritime logistics sector (including the canal) and the banking sector contribute with 49% of the national income.

  • Trade sector (Free Zone in the city of Colon): 12.01%.

  • Mining: 0.75%.

  • Construction and real estate sector: 20.01%.

  • Tourism: 10.4%.

  • Agriculture and livestock: 2.9%.

  • Local industries: 3%.