2016 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. An ambitious expansion project to more than double the Canal's capacity - by allowing for more Canal transits and larger ships - was carried out between 2007 and 2016.

Area

75,420 sq km 74,340 sq km 1,080 sq km

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

360 m lowest point: Pacific Ocean 0 m highest point: Volcan Baru 3,475 m

elevation extremes

lowest point: Pacific Ocean 0 m

highest point

Volcan Baru 3,475 m

mean elevation

360 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

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 Marine Life Conservation

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

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

321 sq km (2012)

Land boundaries

687 km Colombia 339 km, Costa Rica 348 km

border countries (2)

Colombia 339 km, Costa Rica 348 km

total

687 km

Land use

30.5% arable land 7.3%; permanent crops 2.5%; permanent pasture 20.7% 43.6% 25.9% (2011 est.)

agricultural land

30.5%

forest

43.6%

other

25.9% (2011 est.)

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

12 nm 24 nm 200 nm or edge of continental margin

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

Population - distribution

population is concentrated towards the center of the country, particularly around the Canal, but a sizeable segment of the populace also lives in the far west around David; the eastern third of the country is sparsely inhabited

Terrain

interior mostly steep, rugged mountains with dissected, upland plains; coastal plains with rolling hills

Age structure

26.7% (male 504,990/female 484,338) 17.11% (male 323,034/female 311,099) 40.31% (male 756,400/female 737,205) 7.72% (male 141,582/female 144,414) 8.16% (male 138,922/female 163,262) (2016 est.)

0-14 years

26.7% (male 504,990/female 484,338)

15-24 years

17.11% (male 323,034/female 311,099)

25-54 years

40.31% (male 756,400/female 737,205)

55-64 years

7.72% (male 141,582/female 144,414)

65 years and over

8.16% (male 138,922/female 163,262) (2016 est.)

Birth rate

18.1 births/1,000 population (2016 est.)

Child labor - children ages 5-14

59,294 7% data represent children ages 5-17 (2010 est.)

note

data represent children ages 5-17 (2010 est.)

percentage

7%

total number

59,294

Children under the age of 5 years underweight

3.9% (2008)

Contraceptive prevalence rate

52.2% (2009)

Death rate

4.9 deaths/1,000 population (2016 est.)

Demographic profile

Panama is a country of demographic and economic contrasts. It is in the midst of a demographic transition, characterized by steadily declining rates of fertility, mortality, and population growth, but disparities persist based on wealth, geography, and ethnicity. Panama has one of the fastest growing economies in Latin America and dedicates substantial funding to social programs, yet poverty and inequality remain prevalent. The indigenous population accounts for a growing share of Panama's poor and extreme poor, while the non-indigenous rural poor have been more successful at rising out of poverty through rural-to-urban labor migration. The government's large expenditures on untargeted, indirect subsidies for water, electricity, and fuel have been ineffective, but its conditional cash transfer program has shown some promise in helping to decrease extreme poverty among the indigenous population. Panama has expanded access to education and clean water, but the availability of sanitation and, to a lesser extent, electricity remains poor. The increase in secondary schooling - led by female enrollment - is spreading to rural and indigenous areas, which probably will help to alleviate poverty if educational quality and the availability of skilled jobs improve. Inadequate access to sanitation contributes to a high incidence of diarrhea in Panama's children, which is one of the main causes of Panama's elevated chronic malnutrition rate, especially among indigenous communities.

Dependency ratios

53.4% 41.7% 11.7% 8.5% (2015 est.)

elderly dependency ratio

11.7%

potential support ratio

8.5% (2015 est.)

total dependency ratio

53.4%

youth dependency ratio

41.7%

Drinking water source

urban: 97.7% of population rural: 86.6% of population total: 94.7% of population urban: 2.3% of population rural: 11.4% of population total: 5.3% of population (2015 est.)

rural

11.4% of population

total

5.3% of population (2015 est.)

urban

2.3% of population

Education expenditures

3.3% of GDP (2011)

Ethnic groups

mestizo (mixed Amerindian and white) 65%, Native American 12.3% (Ngabe 7.6%, Kuna 2.4%, Embera 0.9%, Bugle 0.8%, other 0.4%, unspecified 0.2%), black or African descent 9.2%, mulatto 6.8%, white 6.7% (2010 est.)

Health expenditures

8% of GDP (2014)

HIV/AIDS - adult prevalence rate

0.69% (2015 est.)

HIV/AIDS - deaths

500 (2015 est.)

HIV/AIDS - people living with HIV/AIDS

17,100 (2015 est.)

Hospital bed density

2.2 beds/1,000 population (2011)

Infant mortality rate

10.1 deaths/1,000 live births 10.9 deaths/1,000 live births 9.4 deaths/1,000 live births (2016 est.)

female

9.4 deaths/1,000 live births (2016 est.)

male

10.9 deaths/1,000 live births

total

10.1 deaths/1,000 live births

Languages

Spanish (official), indigenous languages (including Ngabere (or Guaymi), Buglere, Kuna, Embera, Wounaan, Naso (or Teribe), and Bri Bri), Panamanian English Creole (similar to Jamaican English Creole; a mixture of English and Spanish with elements of Ngabere; also known as Guari Guari and Colon Creole), English, Chinese (Yue and Hakka), Arabic, French Creole, other (Yiddish, Hebrew, Korean, Japanese) many Panamanians are bilingual

note

many Panamanians are bilingual

Life expectancy at birth

78.6 years 75.8 years 81.6 years (2016 est.)

female

81.6 years (2016 est.)

male

75.8 years

total population

78.6 years

Literacy

age 15 and over can read and write 95% 95.7% 94.4% (2015 est.)

definition

age 15 and over can read and write

female

94.4% (2015 est.)

male

95.7%

total population

95%

Major infectious diseases

intermediate bacterial diarrhea dengue fever active local transmission of Zika virus by Aedes species mosquitoes has been identified in this country (as of August 2016); it poses an important risk (a large number of cases possible) among US citizens if bitten by an infective mosquito; other less common ways to get Zika are through sex, via blood transfusion, or during pregnancy, in which the pregnant woman passes Zika virus to her fetus (2016)

degree of risk

intermediate

food or waterborne diseases

bacterial diarrhea

note

active local transmission of Zika virus by Aedes species mosquitoes has been identified in this country (as of August 2016); it poses an important risk (a large number of cases possible) among US citizens if bitten by an infective mosquito; other less common ways to get Zika are through sex, via blood transfusion, or during pregnancy, in which the pregnant woman passes Zika virus to her fetus (2016)

vectorborne disease

dengue fever

Major urban areas - population

PANAMA CITY (capital) 1.673 million (2015)

Maternal mortality rate

94 deaths/100,000 live births (2015 est.)

Median age

28.9 years 28.5 years 29.3 years (2016 est.)

female

29.3 years (2016 est.)

male

28.5 years

total

28.9 years

Nationality

Panamanian(s) Panamanian

adjective

Panamanian

noun

Panamanian(s)

Net migration rate

-0.3 migrant(s)/1,000 population (2016 est.)

Obesity - adult prevalence rate

26.5% (2014)

Physicians density

1.65 physicians/1,000 population (2013)

Population

3,705,246 (July 2016 est.)

Population distribution

population is concentrated towards the center of the country, particularly around the Canal, but a sizeable segment of the populace also lives in the far west around David; the eastern third of the country is sparsely inhabited

Population growth rate

1.3% (2016 est.)

Religions

Roman Catholic 85%, Protestant 15%

Sanitation facility access

urban: 83.5% of population rural: 58% of population total: 75% of population urban: 16.5% of population rural: 42% of population total: 25% of population (2015 est.)

rural

42% of population

total

25% of population (2015 est.)

urban

16.5% of population

School life expectancy (primary to tertiary education)

13 years 12 years 13 years (2013)

female

13 years (2013)

male

12 years

total

13 years

Sex ratio

1.05 male(s)/female 1.04 male(s)/female 1.04 male(s)/female 1.03 male(s)/female 0.98 male(s)/female 0.85 male(s)/female 1.01 male(s)/female (2016 est.)

0-14 years

1.04 male(s)/female

15-24 years

1.04 male(s)/female

25-54 years

1.03 male(s)/female

55-64 years

0.98 male(s)/female

65 years and over

0.85 male(s)/female

at birth

1.05 male(s)/female

total population

1.01 male(s)/female (2016 est.)

Total fertility rate

2.33 children born/woman (2016 est.)

Unemployment, youth ages 15-24

12.6% 11.2% 14.9% (2014 est.)

female

14.9% (2014 est.)

male

11.2%

total

12.6%

Urbanization

66.6% of total population (2015) 2.07% annual rate of change (2010-15 est.)

rate of urbanization

2.07% annual rate of change (2010-15 est.)

urban population

66.6% of total population (2015)

Administrative divisions

10 provinces (provincias, singular - provincia) and 3 indigenous territories* (comarcas); Bocas del Toro, Chiriqui, Cocle, Colon, Darien, Embera-Wounaan*, Herrera, Kuna Yala*, Los Santos, Ngobe-Bugle*, Panama, Panama Oeste, Veraguas

Capital

Panama City 8 58 N, 79 32 W UTC-5 (same time as Washington, DC, during Standard Time)

geographic coordinates

8 58 N, 79 32 W

name

Panama City

time difference

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

Citizenship

yes yes no 5 years

citizenship by birth

yes

citizenship by descent

yes

dual citizenship recognized

no

residency requirement for naturalization

5 years

Constitution

several previous; latest effective 11 October 1972; amended several times, last in 2004 (2016)

Country name

Republic of Panama Panama Republica de Panama Panama according to tradition, the name derives from a former indigenous fishing village and its nearby beach that were called "Panama" meaning "an abundance of fish"

conventional long form

Republic of Panama

conventional short form

Panama

etymology

according to tradition, the name derives from a former indigenous fishing village and its nearby beach that were called "Panama" meaning "an abundance of fish"

local long form

Republica de Panama

local short form

Panama

Diplomatic representation from the US

Ambassador John D. FEELEY (since 15 February 2015) Edificio 783, Avenida Demetrio Basilio Lakas Panama, Apartado Postal 0816-02561, Zona 5, Panama City American Embassy Panama, Unit 0945, APO AA 34002; American Embassy Panama, 9100 Panama City PL, Washington, DC 20521-9100 [507] 317-5000 [507] 317-5568

chief of mission

Ambassador John D. FEELEY (since 15 February 2015)

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; American Embassy Panama, 9100 Panama City PL, Washington, DC 20521-9100

telephone

[507] 317-5000

Diplomatic representation in the US

Ambassador Emanuel Arturo GONZALEZ-REVILLA Lince (since 18 September 2014) 2862 McGill Terrace NW, Washington, DC 20007 [1] (202) 483-1407 [1] (202) 483-8413 Atlanta, Houston, Miami, New Orleans, New York, Philadelphia, Tampa, Washington DC

chancery

2862 McGill Terrace NW, Washington, DC 20007

chief of mission

Ambassador Emanuel Arturo GONZALEZ-REVILLA Lince (since 18 September 2014)

consulate(s) general

Atlanta, Houston, Miami, New Orleans, New York, Philadelphia, Tampa, Washington DC

FAX

[1] (202) 483-8413

telephone

[1] (202) 483-1407

Executive branch

President Juan Carlos VARELA (since 1 July 2014); Vice President Isabel de SAINT MALO de Alvarado (since 1 July 2014); note - the president is both chief of state and head of government President Juan Carlos VARELA (since 1 July 2014); Vice President Isabel de SAINT MALO de Alvarado (since 1 July 2014) Cabinet appointed by the president president and vice president directly elected on the same ballot by simple majority popular vote for a 5-year term (president eligible for a single non-consecutive term); election last held on 4 May 2014; next to be held in 2019) Juan Carlos VARELA elected president; percent of vote - Juan Carlos VARELA (PP) 39.1%, Jose Domingo ARIAS (CD) 31.4%, Juan Carlos NAVARRO (PRD) 28.2%, other 1.3% an alliance between the Panamenista Party and Democratic Revolutionary Party (PRD) fractured after the 2014 election, but a loose coalition composed of Panamenista and moderate PRD and CD legislators generally work together to support the president’s agenda

cabinet

Cabinet appointed by the president

chief of state

President Juan Carlos VARELA (since 1 July 2014); Vice President Isabel de SAINT MALO de Alvarado (since 1 July 2014); note - the president is both chief of state and head of government

election results

Juan Carlos VARELA elected president; percent of vote - Juan Carlos VARELA (PP) 39.1%, Jose Domingo ARIAS (CD) 31.4%, Juan Carlos NAVARRO (PRD) 28.2%, other 1.3%

elections/appointments

president and vice president directly elected on the same ballot by simple majority popular vote for a 5-year term (president eligible for a single non-consecutive term); election last held on 4 May 2014; next to be held in 2019)

head of government

President Juan Carlos VARELA (since 1 July 2014); Vice President Isabel de SAINT MALO de Alvarado (since 1 July 2014)

note

an alliance between the Panamenista Party and Democratic Revolutionary Party (PRD) fractured after the 2014 election, but a loose coalition composed of Panamenista and moderate PRD and CD legislators generally work together to support the president’s agenda

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

presidential republic

Independence

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

International law organization participation

accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction

International organization participation

BCIE, CAN (observer), CD, CELAC, FAO, G-77, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), LAES, LAIA, MIGA, NAM, OAS, OPANAL, OPCW, Pacific Alliance (observer), PCA, SICA, UN, UNASUR (observer), UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO

Judicial branch

Supreme Court of Justice or Corte Suprema de Justicia (consists of 9 magistrates and 9 alternates and divided into civil, criminal, administrative, and general business chambers) magistrates appointed by the president for staggered 10-year terms appellate courts or Tribunal Superior; Labor Supreme Courts; Court of Audit; circuit courts or Tribunal Circuital (2 each in 9 of the 10 provinces); municipal courts; electoral, family, maritime, and adolescent courts

highest court(s)

Supreme Court of Justice or Corte Suprema de Justicia (consists of 9 magistrates and 9 alternates and divided into civil, criminal, administrative, and general business chambers)

judge selection and term of office

magistrates appointed by the president for staggered 10-year terms

subordinate courts

appellate courts or Tribunal Superior; Labor Supreme Courts; Court of Audit; circuit courts or Tribunal Circuital (2 each in 9 of the 10 provinces); municipal courts; electoral, family, maritime, and adolescent courts

Legal system

civil law system; judicial review of legislative acts in the Supreme Court of Justice

Legislative branch

unicameral National Assembly or Asamblea Nacional (71 seats; 45 members directly elected in multi-seat constituencies - populous towns and cities - by proportional representation vote and 26 directly elected in single-seat constituencies - outlying rural districts - by plurality vote; members serve 5-year terms) last held on 4 May 2014 (next to be held in May 2019) percent of vote by party - NA; seats by party - PRD 26, CD 25, Panamenista 16, MOLIRENA 2, PP 1, independent 1; note - only 57 deputies were officially installed because fourteen runners-up challenged the election

description

unicameral National Assembly or Asamblea Nacional (71 seats; 45 members directly elected in multi-seat constituencies - populous towns and cities - by proportional representation vote and 26 directly elected in single-seat constituencies - outlying rural districts - by plurality vote; members serve 5-year terms)

election results

percent of vote by party - NA; seats by party - PRD 26, CD 25, Panamenista 16, MOLIRENA 2, PP 1, independent 1; note - only 57 deputies were officially installed because fourteen runners-up challenged the election

elections

last held on 4 May 2014 (next to be held in May 2019)

National anthem

"Himno Istmeno" (Isthmus Hymn) Jeronimo DE LA OSSA/Santos A. JORGE adopted 1925

lyrics/music

Jeronimo DE LA OSSA/Santos A. JORGE

name

"Himno Istmeno" (Isthmus Hymn)

note

adopted 1925

National holiday

Independence Day, 3 November (1903)

National symbol(s)

harpy eagle; national colors: blue, white, red

harpy eagle; national colors

blue, white, red

Political parties and leaders

Democratic Change or CD [Ricardo MARTINELLI Berrocal] Democratic Revolutionary Party or PRD [Carlos PEREZ Herrera] Nationalist Republican Liberal Movement or MOLIRENA [Francisco "Pancho" ALEMAN] Panamenista Party [Juan Carlos VARELA Rodriguez] (formerly the Arnulfista Party) Popular Party or PP [Milton C. HENRIQUEZ] (formerly Christian Democratic Party or PDC)

Political pressure groups and leaders

Chamber of Commerce Concertacion Nacional (mechanism for Government of Panama to formally dialogue with representatives of civil society) 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

Agriculture - products

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

Budget

$10.66 billion $11.88 billion (2015 est.)

expenditures

$11.88 billion (2015 est.)

revenues

$10.66 billion

Budget surplus (+) or deficit (-)

-2.3% of GDP (2015 est.)

Commercial bank prime lending rate

7.46% (31 December 2015 est.) 6.83% (31 December 2014 est.)

Current account balance

-$3.377 billion (2015 est.) -$4.794 billion (2014 est.)

Debt - external

$21.03 billion (31 December 2015 est.) $19.34 billion (31 December 2014 est.)

Distribution of family income - Gini index

51.9 (2010 est.) 56.1 (2003)

Economy - overview

Panama's dollar-based economy rests primarily on a well-developed services sector that accounts for more than three-quarters of GDP. Services include operating the Panama Canal, logistics, banking, the Colon Free Trade Zone, insurance, container ports, flagship registry, and tourism. Panama's transportation and logistics services sectors, along with infrastructure development projects, have boosted economic growth; however, public debt surpassed $32 billion in 2015 because of excessive government spending and public works projects. The US-Panama Trade Promotion Agreement was approved by Congress and signed into law in October 2011, and entered into force in October 2012. Growth will be bolstered by the Panama Canal expansion project that began in 2007 and is estimated to be completed by 2016 at a cost of $5.3 billion - about 10-15% of current GDP. The expansion project will more than double the Canal's capacity, enabling it to accommodate ships that are too large to traverse the existing canal. The US and China are the top users of the Canal. In 2014, Panama completed a metro system in Panama City, valued at $1.2 billion. Strong economic performance has not translated into broadly shared prosperity, as Panama has the second worst income distribution in Latin America. About one-fourth of the population lives in poverty; however, from 2006 to 2012 poverty was reduced by 10 percentage points.

Exchange rates

balboas (PAB) per US dollar - 1 (2015 est.) 1 (2014 est.) 1 (2013 est.) 1 (2012 est.) 1 (2011 est.)

Exports

$15.92 billion (2015 est.) $17.22 billion (2014 est.) includes the Colon Free Zone

note

includes the Colon Free Zone

Exports - commodities

fruit and nuts, fish, iron and steel waste, wood

Exports - partners

US 19.7%, Germany 13.2%, Costa Rica 7.7%, China 5.9%, Netherlands 4.1% (2015)

Fiscal year

calendar year

GDP - composition, by end use

50.2% 9.7% 43.8% 3.3% 52.9% -59.9% (2015 est.)

exports of goods and services

52.9%

government consumption

9.7%

household consumption

50.2%

imports of goods and services

-59.9% (2015 est.)

investment in fixed capital

43.8%

investment in inventories

3.3%

GDP - composition, by sector of origin

2.8% 14.4% 77.3% (2015 est.)

agriculture

2.8%

industry

14.4%

services

77.3% (2015 est.)

GDP - per capita (PPP)

$21,800 (2015 est.) $21,000 (2014 est.) $20,200 (2013 est.) data are in 2015 US dollars

note

data are in 2015 US dollars

GDP - real growth rate

5.8% (2015 est.) 6.1% (2014 est.) 6.6% (2013 est.)

GDP (official exchange rate)

$52.13 billion (2015 est.)

GDP (purchasing power parity)

$87.2 billion (2015 est.) $82.43 billion (2014 est.) $77.73 billion (2013 est.) data are in 2015 US dollars

note

data are in 2015 US dollars

Gross national saving

41.2% of GDP (2015 est.) 40.2% of GDP (2014 est.) 35.2% of GDP (2013 est.)

Household income or consumption by percentage share

1.1% 40.1% (2010 est.)

highest 10%

40.1% (2010 est.)

lowest 10%

1.1%

Imports

$22.48 billion (2015 est.) $25.7 billion (2014 est.) includes the Colon Free Zone

note

includes the Colon Free Zone

Imports - commodities

fuels, machinery, vehicles, iron and steel rods, pharmaceuticals

Imports - partners

US 25.9%, China 9.6%, Mexico 5.1% (2015)

Industrial production growth rate

5.9% (2015 est.)

Industries

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

Inflation rate (consumer prices)

0.1% (2015 est.) 2.6% (2014 est.)

Labor force

1.587 million shortage of skilled labor, but an oversupply of unskilled labor (2015 est.)

note

shortage of skilled labor, but an oversupply of unskilled labor (2015 est.)

Labor force - by occupation

17% 18.6% 64.4% (2009 est.)

agriculture

17%

industry

18.6%

services

64.4% (2009 est.)

Market value of publicly traded shares

$12.54 billion (31 December 2012 est.) $10.68 billion (31 December 2011 est.) $8.348 billion (31 December 2010 est.)

Population below poverty line

26% (2012 est.)

Public debt

38.8% of GDP (2015 est.) 37.7% of GDP (2014 est.)

Reserves of foreign exchange and gold

$3.378 billion (31 December 2015 est.) $4.032 billion (31 December 2014 est.)

Stock of broad money

$36.14 billion (31 December 2015 est.) $34.65 billion (31 December 2014 est.)

Stock of direct foreign investment - abroad

$9.755 billion (31 December 2015 est.) $8.506 billion (31 December 2014 est.)

Stock of direct foreign investment - at home

$45.28 billion (31 December 2015 est.) $39.52 billion (31 December 2014 est.)

Stock of domestic credit

$42.98 billion (31 December 2015 est.) $38.67 billion (31 December 2014 est.)

Stock of narrow money

$8.215 billion (31 December 2015 est.) $8.317 billion (31 December 2014 est.)

Taxes and other revenues

20.4% of GDP (2015 est.)

Unemployment rate

4.5% (2015 est.) 4.5% (2014 est.)

Carbon dioxide emissions from consumption of energy

17 million Mt (2013 est.)

Crude oil - exports

0 bbl/day (2013 est.)

Crude oil - imports

0 bbl/day (2013 est.)

Crude oil - production

0 bbl/day (2015 est.)

Crude oil - proved reserves

0 bbl (1 January 2010 es)

Electricity - consumption

7.8 billion kWh (2014 est.)

Electricity - exports

99 million kWh (2014 est.)

Electricity - from fossil fuels

38.7% of total installed capacity (2012 est.)

Electricity - from hydroelectric plants

61.3% of total installed capacity (2012 est.)

Electricity - from nuclear fuels

0% of total installed capacity (2012 est.)

Electricity - from other renewable sources

0% of total installed capacity (2012 est.)

Electricity - imports

200 million kWh (2014 est.)

Electricity - installed generating capacity

2.7 million kW (2014 est.)

Electricity - production

9 billion kWh (2014 est.)

Electricity access

300,000 91% 94% 80% (2013)

electrification - rural areas

80% (2013)

electrification - total population

91%

electrification - urban areas

94%

population without electricity

300,000

Natural gas - consumption

0 cu m (2013 est.)

Natural gas - exports

0 cu m (2013 est.)

Natural gas - imports

0 cu m (2013 est.)

Natural gas - production

0 cu m (2013 est.)

Natural gas - proved reserves

0 cu m (1 January 2014 es)

Refined petroleum products - consumption

136,000 bbl/day (2014 est.)

Refined petroleum products - exports

66.08 bbl/day (2013 est.)

Refined petroleum products - imports

127,000 bbl/day (2013 est.)

Refined petroleum products - production

0 bbl/day (2013 est.)

Broadcast media

multiple privately owned TV 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 users

1.873 million 51.2% (July 2015 est.)

percent of population

51.2% (July 2015 est.)

total

1.873 million

Telephone system

domestic and international facilities well-developed mobile-cellular telephone subscribership has increased rapidly 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 (2015)

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 (2015)

Telephones - fixed lines

620,436 17 (July 2015 est.)

subscriptions per 100 inhabitants

17 (July 2015 est.)

total subscriptions

620,436

Telephones - mobile cellular

6.947 million 190 (July 2015 est.)

subscriptions per 100 inhabitants

190 (July 2015 est.)

total

6.947 million

Airports

117 (2013)

Airports - with paved runways

30 (2013)

1,524 to 2,437 m

3

2,438 to 3,047 m

3

914 to 1,523 m

20

over 3,047 m

1

total

57

under 914 m

30 (2013)

Airports - with unpaved runways

51 (2013)

1,524 to 2,437 m

1

914 to 1,523 m

8

total

60

under 914 m

51 (2013)

Civil aircraft registration country code prefix

HP (2016)

Heliports

3 (2013)

Merchant marine

6,413 barge carrier 1, bulk carrier 2,525, cargo 1,115, carrier 27, chemical tanker 588, combination ore/oil 1, container 742, liquefied gas 205, passenger 42, passenger/cargo 51, petroleum tanker 545, refrigerated cargo 191, roll on/roll off 87, specialized tanker 3, vehicle carrier 290 5,157 (Albania 4, Argentina 5, Australia 4, Bahamas 6, Bangladesh 5, Belgium 1, Bermuda 27, Brazil 3, Bulgaria 6, Burma 3, Canada 6, Chile 14, China 534, Colombia 2, Croatia 2, Cuba 2, Cyprus 5, Denmark 41, Ecuador 3, Egypt 11, Finland 2, France 7, Gabon 1, Germany 24, Gibraltar 1, Greece 379, Hong Kong 144, India 24, Indonesia 10, Iran 5, Ireland 1, Israel 1, Italy 25, Japan 2372, Jordan 11, Kuwait 12, Lebanon 2, Lithuania 3, Luxembourg 1, Malaysia 12, Maldives 2, Malta 2, Mexico 5, Monaco 11, Netherlands 6, Nigeria 6, Norway 81, Oman 10, Pakistan 3, Peru 9, Philippines 5, Portugal 10, Qatar 1, Romania 3, Russia 49, Saudi Arabia 11, Singapore 92, South Korea 373, Spain 30, Sweden 2, Switzerland 15, Syria 34, Taiwan 328, Tanzania 2, Thailand 6, Turkey 62, UAE 83, UK 37, Ukraine 8, US 90, Venezuela 13, Vietnam 43, Yemen 4) 1 (Honduras 1) (2010)

by type

barge carrier 1, bulk carrier 2,525, cargo 1,115, carrier 27, chemical tanker 588, combination ore/oil 1, container 742, liquefied gas 205, passenger 42, passenger/cargo 51, petroleum tanker 545, refrigerated cargo 191, roll on/roll off 87, specialized tanker 3, vehicle carrier 290

foreign-owned

5,157 (Albania 4, Argentina 5, Australia 4, Bahamas 6, Bangladesh 5, Belgium 1, Bermuda 27, Brazil 3, Bulgaria 6, Burma 3, Canada 6, Chile 14, China 534, Colombia 2, Croatia 2, Cuba 2, Cyprus 5, Denmark 41, Ecuador 3, Egypt 11, Finland 2, France 7, Gabon 1, Germany 24, Gibraltar 1, Greece 379, Hong Kong 144, India 24, Indonesia 10, Iran 5, Ireland 1, Israel 1, Italy 25, Japan 2372, Jordan 11, Kuwait 12, Lebanon 2, Lithuania 3, Luxembourg 1, Malaysia 12, Maldives 2, Malta 2, Mexico 5, Monaco 11, Netherlands 6, Nigeria 6, Norway 81, Oman 10, Pakistan 3, Peru 9, Philippines 5, Portugal 10, Qatar 1, Romania 3, Russia 49, Saudi Arabia 11, Singapore 92, South Korea 373, Spain 30, Sweden 2, Switzerland 15, Syria 34, Taiwan 328, Tanzania 2, Thailand 6, Turkey 62, UAE 83, UK 37, Ukraine 8, US 90, Venezuela 13, Vietnam 43, Yemen 4)

registered in other countries

1 (Honduras 1) (2010)

total

6,413

National air transport system

12,018,103 121,567,075 mt-km (2015)

annual freight traffic on registered air carriers

121,567,075 mt-km (2015)

annual passenger traffic on registered air carriers

12,018,103

inventory of registered aircraft operated by air carriers

103

number of registered air carriers

4

Pipelines

oil 128 km (2013)

Ports and terminals

Balboa, Colon, Cristobal Balboa (3,232,265), Colon (2,390,976), Manzanillo (2,391,066)

container port(s) (TEUs)

Balboa (3,232,265), Colon (2,390,976), Manzanillo (2,391,066)

major seaport(s)

Balboa, Colon, Cristobal

Railways

77 km 77 km 1.435-m gauge (2014)

standard gauge

77 km 1.435-m gauge (2014)

total

77 km

Roadways

15,137 km 6,351 km 8,786 km (2010)

paved

6,351 km

total

15,137 km

unpaved

8,786 km (2010)

Waterways

800 km (includes the 82-km Panama Canal that is being widened) (2011)

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 Security Forces (subordinate to the Ministry of Public Security), comprising the National Police (PNP), National Air-Naval Service (SENAN), National Border Service (SENAFRONT) (2013)

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

Refugees and internally displaced persons

15,593 (Colombia) (2015) 2 (2015)

refugees (country of origin)

15,593 (Colombia) (2015)

stateless persons

2 (2015)