2010 Edition

Background

Explored and settled by the Spanish in the 16th century, Panama broke with Spain in 1821 and joined a union of Colombia, Ecuador, and Venezuela - 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 (estimated to cost $5.3 billion) to expand the Canal. The project, which began in 2007 and could double the Canal's capacity, is expected to be completed in 2014-15.

Area

land

74,340 sq km

total

75,420 sq km

water

1,080 sq km

Area - comparative

slightly smaller than South Carolina

Climate

tropical maritime; hot, humid, cloudy; prolonged rainy season (May to January), short dry season (January to May)

Coastline

2,490 km

Elevation extremes

highest point

Volcan Baru 3,475 m

lowest point

Pacific Ocean 0 m

Environment - current 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

Environment - international agreements

party to

Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, 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

Freshwater withdrawal (domestic/industrial/agricultural)

per capita

254 cu m/yr (2000)

total

0.82 cu km/yr (67%/5%/28%)

Geographic coordinates

9 00 N, 80 00 W

Geography - note

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

Irrigated land

430 sq km (2003)

Land boundaries

border countries

Colombia 225 km, Costa Rica 330 km

total

555 km

Land use

arable land

7.26%

other

90.79% (2005)

permanent crops

1.95%

Location

Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica

Map references

Central America and the Caribbean

Maritime claims

contiguous zone

24 nm

exclusive economic zone

200 nm or edge of continental margin

territorial sea

12 nm

Natural hazards

occasional severe storms and forest fires in the Darien area

Natural resources

copper, mahogany forests, shrimp, hydropower

Terrain

interior mostly steep, rugged mountains and dissected, upland plains; coastal areas largely plains and rolling hills

Total renewable water resources

148 cu km (2000)

Age structure

0-14 years: 29.3% (male 501,950/female 481,750) 15-64 years: 63.9% (male 1,085,435/female 1,061,530) 65 years and over: 6.8% (male 106,934/female 122,875) (2010 est.)

Birth rate

19.71 births/1,000 population (2010 est.)

Death rate

4.62 deaths/1,000 population (July 2010 est.)

Education expenditures

3.8% of GDP (2008)

Ethnic groups

mestizo (mixed Amerindian and white) 70%, Amerindian and mixed (West Indian) 14%, white 10%, Amerindian 6%

HIV/AIDS - adult prevalence rate

1% (2007 est.)

HIV/AIDS - deaths

fewer than 1,000 (2007 est.)

HIV/AIDS - people living with HIV/AIDS

20,000 (2007 est.)

Infant mortality rate

female

11.15 deaths/1,000 live births (2010 est.)

male

12.75 deaths/1,000 live births

total

11.97 deaths/1,000 live births

Languages

Spanish (official), English 14%; note - many Panamanians bilingual

Life expectancy at birth

female

80.5 years (2010 est.)

male

74.85 years

total population

77.61 years

Literacy

definition: age 15 and over can read and write

female

91.2% (2000 census)

male

92.5%

total population

91.9%

Major infectious diseases

degree of risk

intermediate

food or waterborne diseases

bacterial diarrhea

vectorborne disease

dengue fever and malaria (2009)

Median age

female

27.6 years (2010 est.)

male

26.9 years

total

27.2 years

Nationality

adjective

Panamanian

noun

Panamanian(s)

Net migration rate

-0.46 migrant(s)/1,000 population (2010 est.)

Population

3,410,676 (July 2010 est.)

Population growth rate

1.463% (2010 est.)

Religions

Roman Catholic 85%, Protestant 15%

School life expectancy (primary to tertiary education)

female

14 years (2007)

male

13 years

total

14 years

Sex ratio

at birth

1.045 male(s)/female under 15 years: 1.04 male(s)/female 15-64 years: 1.02 male(s)/female 65 years and over: 0.87 male(s)/female

total population

1.02 male(s)/female (2010 est.)

Total fertility rate

2.48 children born/woman (2010 est.)

Urbanization

rate of urbanization

2.7% annual rate of change (2005-10 est.)

urban population

73% of total population (2008)

Administrative divisions

11 provinces (provincias, singular - provincia) and 1 territory* (comarca); Bocas del Toro, Comarca Kuna Yala, Comarca Ngobe-Bugle, Chiriqui, Cocle, Colon, Darien, Herrera, Los Santos, Panama, San Blas* (Kuna Yala), and Veraguas

Capital

geographic coordinates

8 58 N, 79 32 W

name

Panama City

time difference

UTC-5 (same time as Washington, DC during Standard Time)

Constitution

11 October 1972; revised in 1978, 1983, 1994, and 2004

Country name

conventional long form

Republic of Panama

conventional short form

Panama

local long form

Republica de Panama

local short form

Panama

Diplomatic representation from the US

chief of mission

Ambassador Phyllis M. POWERS

embassy

Edificio 783, Avenida Demetrio Basilio Lakas Panama, Apartado Postal 0816-02561, Zona 5, Panama City

FAX

[507] 317-5568

mailing address

American Embassy Panama, Unit 0945, APO AA 34002

telephone

[507] 207-7000

Diplomatic representation in the US

chancery

2862 McGill Terrace NW, Washington, DC 20008

chief of mission

Ambassador Jaime Eduardo ALEMAN Healy

consulate(s) general

Atlanta, Houston, Miami, New Orleans, New York, Philadelphia, San Diego, San Francisco, Tampa

FAX

[1] (202) 483-8416

telephone

[1] (202) 483-1407

Executive branch

cabinet

Cabinet appointed by the president (For more information visit the World Leaders website )

chief of state

President Ricardo MARTINELLI Berrocal (since 1 July 2009); Vice President Juan Carlos VARELA (since 1 July 2009); note - the president is both the chief of state and head of government

election results

Ricardo MARTINELLI Berrocal elected president; percent of vote - Ricardo MARTINELLI Berrocal 60%, Balbina HERRERA 38%, Guillermo ENDARA Galimany 2% note: government coalition - CD (Democratic Change), Panamenista, MOLIRENA (Nationalist Republican Liberal Movement), and UP (Patriotic Union Party)

elections

president and vice president elected on the same ticket by popular vote for five-year terms (not eligible for immediate reelection; president and vice president must sit out two additional terms (10 years) before becoming eligible for reelection); election last held on 3 May 2009 (next to be held in 2014)

head of government

President Ricardo MARTINELLI Berrocal (since 1 July 2009); Vice President Juan Carlos VARELA (since 1 July 2009)

Flag description

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; the blue and red colors are those of the main political parties (Conservatives and Liberals respectively) and the white denotes peace between them; the blue star stands for the civic virtues of purity and honesty, the red star signifies authority and law

Government type

constitutional democracy

Independence

3 November 1903 (from Colombia; became independent from Spain 28 November 1821)

International organization participation

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, SICA, UN, UNASUR (observer), UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO

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

Legal system

based on civil law system; judicial review of legislative acts in the Supreme Court of Justice; accepts compulsory ICJ jurisdiction with reservations

Legislative branch

unicameral National Assembly or Asamblea Nacional (71 seats; members elected by popular vote to serve five-year terms)

election results

percent of vote by party - NA; seats by party - PRD 26, Panamenista 22, CD 14, UP 4, Independent 2, MOLIRENA 2, PP 1 note: legislators from outlying rural districts chosen on a plurality basis while districts located in more populous towns and cities elect multiple legislators by means of a proportion-based formula

elections

last held on 3 May 2009 (next to be held in May 2014)

National anthem

lyrics/music

Jeronimo DE LA OSSA/Santos A. JORGE note: adopted 1925

name

"Himno Istemno" (Isthmus Hymn)

National holiday

Independence Day, 3 November (1903)

Political parties and leaders

Democratic Change or CD [Ricardo MARTINELLI]; Democratic Revolutionary Party or PRD [Francisco SANCHEZ Cardenas]; Nationalist Republican Liberal Movement or MOLIRENA [Sergio GONZALEZ-Ruiz]; Panamenista Party [Juan Carlos VARELA Rodriguez] (formerly the Arnulfista Party); Patriotic Union Party or UP (combination of the Liberal National Party or PLN and the Solidarity Party or PS)[Anibal GALINDO]; Popular Party or PP [Milton HENRIQUEZ] (formerly Christian Democratic Party or PDC)

Political pressure groups and leaders

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

Suffrage

18 years of age; universal and compulsory

Agriculture - products

bananas, rice, corn, coffee, sugarcane, vegetables; livestock; shrimp

Commercial bank prime lending rate

8.25% (31 December 2009 est.) 8.16% (31 December 2008 est.)

Current account balance

-$813 million (2010 est.) -$2.33 billion (2009 est.)

Debt - external

$13.85 billion (31 December 2010 est.) $13.7 billion (31 December 2009 est.)

Distribution of family income - Gini index

56.1 (2003) 48.5 (1997)

Economy - overview

Panama's dollarized economy rests primarily on a well-developed services sector that accounts for three-quarters 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 is scheduled to be completed by 2014 at a cost of $5.3 billion - about 25% 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 unemployment rate. The United States and China are the top users of the Canal. Panama also plans to construct a metro system in Panama City, valued at $1.2 billion and scheduled to be completed by 2014. Panama's aggressive infrastructure development projects will likely lead the economy to continued growth in 2011. Strong economic performance has not translated into broadly shared prosperity as Panama has the second worst income distribution in Latin America. About 30% of the population lives in poverty, however, during TORRIJOS's term poverty was reduced from 40% to 30% and unemployment dropped from 12% to 6%. 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. Seeking removal from the Organization of Economic Development's gray-list of tax havens, Panama has also recently signed various double taxation treaties with other nations.

Electricity - consumption

5.17 billion kWh (2007 est.)

Electricity - exports

124.9 million kWh (2007 est.)

Electricity - imports

8.74 million kWh (2007 est.)

Electricity - production

6.322 billion kWh (2007 est.)

Exchange rates

balboas (PAB) per US dollar - 1 (2010), 1 (2009), 1 (2008), 1 (2007), 1 (2006)

Exports

$12.52 billion (2010 est.) $10.9 billion (2009 est.) note: includes the Colon Free Zone

Exports - commodities

bananas, shrimp, sugar, coffee, clothing

Exports - partners

Greece 21.03%, US 17.63%, Japan 9.87%, Germany 4.28%, Italy 4.27% (2009)

GDP - composition by sector

agriculture

5.8%

industry

16.6%

services

77.6% (2010 est.)

GDP - per capita (PPP)

$12,700 (2010 est.) $12,300 (2009 est.) $12,200 (2008 est.) note: data are in 2010 US dollars

GDP - real growth rate

5.1% (2010 est.) 2.4% (2009 est.) 10.7% (2008 est.)

GDP (official exchange rate)

$27.2 billion (2010 est.)

GDP (purchasing power parity)

$43.48 billion (2010 est.) $41.37 billion (2009 est.) $40.4 billion (2008 est.) note: data are in 2010 US dollars

Household income or consumption by percentage share

lowest 10%: 0.8% highest 10%: 41.4% (2006)

Imports

$16.05 billion (2010 est.) $12.93 billion (2009 est.) note: includes the Colon Free Zone

Imports - commodities

capital goods, foodstuffs, consumer goods, chemicals

Imports - partners

Japan 36.21%, Singapore 16.86%, US 12.3%, China 7.84% (2009)

Industrial production growth rate

2% (2010 est.)

Industries

construction, brewing, cement and other construction materials, sugar milling

Inflation rate (consumer prices)

3.3% (2010 est.) 2.4% (2009 est.)

Investment (gross fixed)

26.8% of GDP (2010 est.)

Labor force

1.49 million note: shortage of skilled labor, but an oversupply of unskilled labor (2010 est.)

Labor force - by occupation

agriculture

6%

industry

18%

services

76% (2009 est.)

Market value of publicly traded shares

$8.048 billion (31 December 2009) $6.568 billion (31 December 2008) $6.219 billion (31 December 2007)

Natural gas - consumption

0 cu m (2008 est.)

Natural gas - exports

0 cu m (2008 est.)

Natural gas - imports

0 cu m (2008 est.)

Natural gas - production

0 cu m (2008 est.)

Natural gas - proved reserves

0 cu m (1 January 2010 est.)

Oil - consumption

93,000 bbl/day (2009 est.)

Oil - exports

4,803 bbl/day (2007 est.)

Oil - imports

87,100 bbl/day (2007 est.)

Oil - production

2 bbl/day (2009 est.)

Oil - proved reserves

0 bbl (1 January 2010 est.)

Population below poverty line

28.6% (2006 est.)

Public debt

40.8% of GDP (2010 est.) 44.6% of GDP (2009 est.)

Reserves of foreign exchange and gold

$3.525 billion (31 December 2010 est.) $3.028 billion (31 December 2009 est.)

Stock of broad money

$24.17 billion (31 December 2010 est.) $21.78 billion (31 December 2009 est.)

Stock of direct foreign investment - abroad

$NA

Stock of direct foreign investment - at home

$NA

Stock of domestic credit

$23.2 billion (31 December 2010 est.) $20.17 billion (31 December 2009 est.)

Stock of narrow money

$5.04 billion (31 December 2010 est) $4.404 billion (31 December 2009 est)

Unemployment rate

4.4% (2010 est.) 6.7% (2009 est.)

Broadcast media

multiple privately-owned television networks and a government-owned educational TV station; multi-channel cable and satellite TV subscription services are available; more than 100 commercial radio stations (2007)

Internet country code

.pa

Internet hosts

9,585 (2010)

Internet users

959,800 (2009)

Telephone system

domestic

mobile-cellular telephone subscribership has increased rapidly

general assessment

domestic and international facilities well developed

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 (2008)

Telephones - main lines in use

537,100 (2009)

Telephones - mobile cellular

5.677 million (2009)

Airports

118 (2010)

Airports - with paved runways

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: 17 under 914 m: 30 (2010)

Airports - with unpaved runways

total

64 1,524 to 2,437 m: 1 914 to 1,523 m: 11 under 914 m: 52 (2010)

Heliports

3 (2010)

Merchant marine

by type

barge carrier 1, bulk carrier 2,383, cargo 1,129, carrier 18, chemical tanker 626, combination ore/oil 3, container 751, liquefied gas 192, passenger 42, passenger/cargo 61, petroleum tanker 576, refrigerated cargo 212, roll on/roll off 100, specialized tanker 3, vehicle carrier 282

foreign-owned

5,244 (Albania 3, Argentina 7, Australia 5, Azerbaijan 1, Bahamas 7, Bangladesh 3, Belgium 2, Bermuda 15, Brazil 3, Bulgaria 6, Burma 3, Canada 5, Chile 17, China 574, Colombia 2, Croatia 2, Cuba 4, Cyprus 8, Denmark 46, Ecuador 6, Egypt 11, Finland 2, France 13, Gabon 1, Germany 27, Gibraltar 1, Greece 402, Hong Kong 125, India 17, Indonesia 14, Iran 5, Ireland 1, Isle of Man 11, Israel 1, Italy 23, Japan 2347, Jordan 13, Kuwait 12, Latvia 4, Lebanon 2, Lithuania 4, Luxembourg 1, Malaysia 12, Maldives 3, Malta 2, Mexico 6, Monaco 14, Morocco 1, Netherlands 8, Nigeria 7, Norway 89, Oman 8, Pakistan 5, Peru 12, Philippines 6, Poland 3, Portugal 9, Qatar 1, Romania 2, Russia 39, Saudi Arabia 8, Singapore 79, South Korea 366, Spain 40, Sweden 1, Switzerland 22, Syria 42, Taiwan 337, Tanzania 2, Thailand 6, Tunisia 1, Turkey 79, UAE 83, UK 33, Ukraine 11, US 102, Venezuela 8, Vietnam 37, Yemen 4)

registered in other countries

1 (Honduras 1) (2010)

total

6,379

Ports and terminals

Balboa, Colon, Cristobal

Railways

standard gauge

76 km 1.435-m gauge (2008)

total

76 km

Roadways

paved

4,300 km

total

11,978 km

unpaved

7,678 km (2002)

Waterways

800 km (includes the 82-km Panama Canal that is being widened) (2010)

Manpower available for military service

males age 16-49: 878,281 (2010 est.)

Manpower fit for military service

males age 16-49: 719,761 females age 16-49: 719,444 (2010 est.)

Manpower reaching militarily significant age annually

female

30,182 (2010 est.)

male

31,398

Military - note

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"

Military branches

no regular military forces; Panamanian public forces include: Panamanian National Police (PNP), National Air-Naval Service (SENAN), National Border Service (SENAFRONT) (2010)

Military expenditures

1% of GDP (2006)

Disputes - international

organized illegal narcotics operations in Colombia operate within the remote 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 page last updated on January 19, 2011 ======================================================================