9 00 N, 80 00 W

Map references:

Central America and the Caribbean

Area:

total: 78,200 sq km land: 75,990 sq km water: 2,210 sq km

Area - comparative:

slightly smaller than South Carolina

Land boundaries:

total: 555 km border countries: Colombia 225 km, Costa Rica 330 km

Coastline:

2,490 km

Maritime claims:

territorial sea: 12 nm contiguous zone: 24 nm exclusive economic zone: 200 nm or edge of continental margin

Climate:

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

Terrain:

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

Elevation extremes:

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

Natural resources:

copper, mahogany forests, shrimp, hydropower

Land use:

arable land: 7.26% permanent crops: 1.95% other: 90.79% (2005)

Irrigated land:

430 sq km (2003)

Total renewable water resources:

148 cu km (2000)

Freshwater withdrawal (domestic/industrial/agricultural):

total: 0.82 cu km/yr (67%/5%/28%) per capita: 254 cu m/yr (2000)

Natural hazards:

occasional severe storms and forest fires in the Darien area

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, 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

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

People
Panama

Population:

3,309,679 (July 2008 est.)

Age structure:

0-14 years: 29.6% (male 499,254/female 479,242) 15-64 years: 63.8% (male 1,066,915/female 1,043,499) 65 years and over: 6.7% (male 102,937/female 117,832) (2008 est.)

Median age:

total: 26.7 years male: 26.3 years female: 27.1 years (2008 est.)

Population growth rate:

1.544% (2008 est.)

Birth rate:

20.68 births/1,000 population (2008 est.)

Death rate:

4.71 deaths/1,000 population (2008 est.)

Net migration rate:

-0.53 migrant(s)/1,000 population (2008 est.)

Sex ratio:

at birth: 1.04 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 (2008 est.)

Infant mortality rate:

total: 13.4 deaths/1,000 live births male: 14.35 deaths/1,000 live births female: 12.42 deaths/1,000 live births (2008 est.)

Life expectancy at birth:

total population: 76.88 years male: 74.08 years female: 79.81 years (2008 est.)

Total fertility rate:

2.57 children born/woman (2008 est.)

HIV/AIDS - adult prevalence rate:

0.9% (2003 est.)

HIV/AIDS - people living with HIV/AIDS:

16,000 (2003 est.)

HIV/AIDS - deaths:

fewer than 500 (2003 est.)

Major infectious diseases:

degree of risk: intermediate food or waterborne diseases: bacterial diarrhea and hepatitis A vectorborne disease: dengue fever and malaria water contact disease: leptospirosis (2008)

Nationality:

noun: Panamanian(s) adjective: Panamanian

Ethnic groups:

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

Religions:

Roman Catholic 85%, Protestant 15%

Languages:

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

Literacy:

definition: age 15 and over can read and write total population: 91.9% male: 92.5% female: 91.2% (2000 census)

School life expectancy (primary to tertiary education):

total: 13 years male: 13 years female: 14 years (2006)

Education expenditures:

3.8% of GDP (2004)

Government
Panama

Country name:

conventional long form: Republic of Panama conventional short form: Panama local long form: Republica de Panama local short form: Panama

Government type:

constitutional democracy

Capital:

name: Panama geographic coordinates: 8 58 N, 79 32 W time difference: UTC-5 (same time as Washington, DC during Standard Time)

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

Independence:

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

National holiday:

Independence Day, 3 November (1903)

Constitution:

11 October 1972; major reforms adopted 1978, 1983, 1994, and 2004

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 of age; universal and compulsory

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) cabinet: Cabinet appointed by the president elections: president and vice presidents elected on the same ticket by popular vote for five-year terms (not eligible for immediate reelection; president and vice presidents must sit out two additional terms (10 years) before becoming eligible for reelection); election last held 2 May 2004 (next to be held on 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 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 41, PA 17, PS 9, MOLIRENA 4, CD 3, PLN 3, PP 1 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

Political parties and leaders:

Democratic Change or CD [Ricardo MARTINELLI]; Democratic
Revolutionary Party or PRD [Hugo GUIRAUD]; Nationalist Republican
Liberal Movement or MOLIRENA [Gisela CHUNG]; Panamenista Party or PA
[Juan Carlos VARELA] (formerly the Arnulfista Party); Patriotic
Union Party or PU (combination of the Liberal National Party or PLN
and the Solidarity Party or PS)[Jose Raul MULINO and Anibal
GALINDO]; Popular Party or PP [Rene ORILLAC] (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

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, UN, UN Security
Council (temporary), UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO,
UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO

Diplomatic representation in the US:

chief of mission: Ambassador Federico HUMBERT Arias chancery: 2862 McGill Terrace NW, Washington, DC 20008 telephone: (202) 483-1407 FAX: (202) 483-8416 consulate(s) general: Atlanta, Honolulu, Houston, Miami, New Orleans, New York, Philadelphia, San Diego, San Francisco, San Juan (Puerto Rico), Tampa

Diplomatic representation from the US:

chief of mission: Ambassador William A. EATON embassy: Edificio 783, Avenida Demetrio Basilio Lakas Panama, Apartado Postal 0816-02561, Zona 5, Panama City mailing address: American Embassy Panama, Unit 0945, APO AA 34002 telephone: 207-7000 FAX: 317-5568

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

Economy
Panama

Economy - overview:

Panama's dollarized economy rests primarily on a well-developed services sector that accounts for two-thirds 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 should be completed by 2014 at a cost of $5.3 billion (about 30% 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 high unemployment rate. The government has implemented tax reforms, as well as social security reforms, and backs regional trade agreements and development of tourism. 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.

GDP (purchasing power parity):

$34.81 billion (2007 est.)

GDP (official exchange rate):

$19.74 billion (2007 est.)

GDP - real growth rate:

11.2% (2007 est.)

GDP - per capita (PPP):

$10,700 (2007 est.)

GDP - composition by sector:

agriculture: 6.6% industry: 16.4% services: 77% (2007 est.)

Labor force:

1.362 million note: shortage of skilled labor, but an oversupply of unskilled labor (2007 est.)

Labor force - by occupation:

agriculture: 15% industry: 18% services: 67% (2006)

Unemployment rate:

6.4% (2007 est.)

Population below poverty line:

37% (1999 est.)

Household income or consumption by percentage share:

lowest 10%: 0.7% highest 10%: 43% (2003)

Distribution of family income - Gini index:

56.1 (2003)

Investment (gross fixed):

20.2% of GDP (2007 est.)

Budget:

revenues: $5.505 billion expenditures: $4.822 billion (2007 est.)

Fiscal year:

calendar year

Public debt:

53% of GDP (2007 est.)

Inflation rate (consumer prices):

4.2% (2007 est.)

Commercial bank prime lending rate:

8.25% (31 December 2007)

Stock of money:

$3.054 billion (31 December 2007)

Stock of quasi money:

$14.26 billion (31 December 2007)

Stock of domestic credit:

$17.4 billion (31 December 2007)

Agriculture - products:

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

Industries:

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

Industrial production growth rate:

10.5% (2007 est.)

Electricity - production:

5.805 billion kWh (2006 est.)

Electricity - consumption:

4.768 billion kWh (2006 est.)

Electricity - exports:

124.9 million kWh (2007 est.)

Electricity - imports:

8.74 million kWh (2007 est.)

Electricity - production by source:

fossil fuel: 37% hydro: 61.3% nuclear: 0% other: 1.7% (2001)

Oil - production:

0 bbl/day (2007 est.)

Oil - consumption:

92,790 bbl/day (2006 est.)

Oil - exports:

4,447 bbl/day (2005)

Oil - imports:

88,790 bbl/day (2005)

Oil - proved reserves:

0 bbl (1 January 2006 est.)

Natural gas - production:

0 cu m (2007 est.)

Natural gas - consumption:

0 cu m (2007 est.)

Natural gas - exports:

0 cu m (2007 est.)

Natural gas - imports:

0 cu m (2007 est.)

Natural gas - proved reserves:

0 cu m (1 January 2006 est.)

Current account balance:

-$1.577 billion (2007 est.)

Exports:

$9.312 billion f.o.b.; note - includes the Colon Free Zone (2007 est.)

Exports - commodities:

bananas, shrimp, sugar, coffee, clothing

Exports - partners:

US 35.6%, Netherlands 10.2%, China 6%, Sweden 5.5%, UK 5.4%, Costa
Rica 5.1%, Spain 5% (2007)

Imports:

$12.62 billion f.o.b. note: includes the Colon Free Zone (2007 est.)

Imports - commodities:

capital goods, foodstuffs, consumer goods, chemicals

Imports - partners:

US 32.8%, Netherlands Antilles 7.6%, China 5.6%, Japan 5.1%, Costa
Rica 5.1%, South Korea 4.1% (2007)

Economic aid - recipient:

$19.54 million (2005)

Reserves of foreign exchange and gold:

$1.935 billion (31 December 2007 est.)

Debt - external:

$10.45 billion (31 December 2007 est.)

Stock of direct foreign investment - at home: