Panama
Republic of PanamaRepublica de Panama
constitutional democracyIndependence 3 November 1903 (from Colombia
Panama as the 2012 edition of the CIA World Factbook published it: 161 fields, one of 36 editions from 1990 to 2025.
field in that editiontext changed from the edition beforenot in that editionthe open editionEach field below ends in its editions, 1990 to 2025. Point at a year above to follow it down.
No fields match. Try a shorter word.
Introduction
1 fieldBackground
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.
Geography
Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica
20 fieldsLand useshare of 75,420 sq km
Location
Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica
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
Freshwater withdrawal (domestic/industrial/agricultural)
- total:
- 0.82 cu km/yr (67%/5%/28%)
- per capita:
- 254 cu m/yr (2000)
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
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 and Society
32 fieldsAge structuremale left, female right · (2012 est.)
Per 1,000 population
Male · female
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.
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:
- 0.86 male(s)/female
- total population:
- 1.01 male(s)/female (2011 est.)
Major infectious diseases
- degree of risk:
- intermediate
- food or waterborne diseases:
- bacterial diarrhea
- vectorborne disease:
- dengue fever and malaria (2009)
Government
Constitutional democracy; President Ricardo MARTINELLI Berrocal (since 1 July 2009); President Ricardo MARTINELLI Berrocal (since 1 July 2009)
21 fieldsPresidential electionpercent of vote
National Assembly or Asamblea Nacional, 71 seats, elected 3 May 2009one dot, one seat
Country name
- conventional long form:
- Republic of Panama
- conventional short form:
- Panama
- local long form:
- Republica de Panama
- local short form:
- Panama
Capital
- name:
- Panama City
- geographic coordinates:
- 8 58 N, 79 32 W
- time difference:
- UTC-5 (same time as Washington, DC during Standard Time)
Administrative divisions
- 9 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, Veraguas
International law organization participation
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Executive branch
- 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
- head of government:
- President Ricardo MARTINELLI Berrocal (since 1 July 2009); Vice President Juan Carlos VARELA (since 1 July 2009)
- cabinet:
- Cabinet appointed by the president; (For more information visit theWorld Leaders website)
- elections:
- president and vice president elected on the same ticket by popular vote for five-year terms (president not eligible for immediate reelection and 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)
- election results:
- Ricardo MARTINELLI Berrocal elected president; percent of vote - Ricardo MARTINELLI Berrocal 60%, Balbina HERRERA 38%, Guillermo ENDARA Galimany 2%
note: the ruling government coalition - formerly comprised of CD (Democratic Change), Panamenista Party, MOLIRENA (Nationalist Republican Liberal Movement), and UP (Patriotic Union Party) - split in August 2011 when MARTINELLI relieved Vice President VARELA from his position as Foreign Minister prompting the Panamenistas to pull out of the coalition;
UP has now merged with CD, and CD and the Panamenista Party will now run separate candidates for the presidency in 2014
Legislative branch
unicameral National Assembly or Asamblea Nacional (71 seats; members elected by popular vote to serve five-year terms)
- elections:
- last held on 3 May 2009 (next to be held in May 2014)
- election results:
- percent of vote by party - NA;
- seats by party - PRD 26, Panamenista 22, CD 14, UP 4, MOLIRENA 2, PP 1, independents 2;
- note - changes in political affiliation now reflect the following seat distribution: as of 5 December 2012 - seats by party - CD 38, PRD 17, Panamenista 9, MOLIRENA 6, 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 staggered 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 [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)
note: The Patriotic Union Party (UP) has now merged with Democratic Change (CD)
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
International organization participation
BCIE, CAN (observer), CD, CELAC, CSN (observer), FAO, G-77, IADB, IAEA, IBRD, ICAO, ICC (national committees), 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, PCA, SICA, UN, UNASUR (observer), UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO
Diplomatic representation in the US
- chief of mission:
- Ambassador Mario Ernesto JARAMILLO Castillo
- chancery:
- 2862 McGill Terrace NW, Washington, DC 20008
- telephone:
- [1] (202) 483-1407
- FAX:
- [1] (202) 483-8416
- consulate(s) general:
- Atlanta, Houston, Miami, New Orleans, New York, Philadelphia, San Diego, San Francisco, Tampa
Diplomatic representation from the US
- chief of mission:
- Ambassador Jonathan D. FARRAR
- 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:
- [507] 207-7000
- FAX:
- [507] 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;
- 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
National anthem
- name:
- "Himno Istemno" (Isthmus Hymn)
- lyrics/music:
- Jeronimo DE LA OSSA/Santos A. JORGE
note: adopted 1925
Economy
38 fieldsGDP - composition by sector(2012 est.)
Trading partnersexports left, imports right
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 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 10% 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 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 booming transportation and logistics services sectors, along with aggressive infrastructure development projects, have lead the economy to continued high growth in 2012.
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, from 2006 to 2012 poverty was reduced by 10 percentage points, while unemployment dropped from 12% to 4.4% of the labor force in 2012.
A US-Panama Trade Promotion Agreement was approved by Congress and signed into law in October 2011. 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.
Labor force
1.509 million country comparison to the world: 129 note: shortage of skilled labor, but an oversupply of unskilled labor (2012 est.)
Distribution of family income - Gini index
51.9 (2010 est.) · 56.1 (2003) country comparison to the world: 17
Commercial bank prime lending rate
6.6% (31 December 2012 est.) · 6.91% (31 December 2011 est.) country comparison to the world: 129
Stock of narrow money
$7.488 billion (31 December 2012 est.) · $6.107 billion (31 December 2011 est.) country comparison to the world: 87
Stock of broad money
$29.72 billion (31 December 2012 est.) · $25.73 billion (31 December 2011 est.) country comparison to the world: 78
Stock of domestic credit
$31.47 billion (31 December 2012 est.) · $28.1 billion (31 December 2011 est.) country comparison to the world: 71
Current account balance
-$4.191 billion (2012 est.) · -$3.892 billion (2011 est.) country comparison to the world: 158
Exports
$17.97 billion (2012 est.) · $16.93 billion (2011 est.) country comparison to the world: 76 note: includes the Colon Free Zone
Imports
$24.04 billion (2012 est.) · $22.95 billion (2011 est.) country comparison to the world: 70 note: includes the Colon Free Zone
Reserves of foreign exchange and gold
$3.314 billion (31 December 2012 est.) · $2.315 billion (31 December 2011 est.) country comparison to the world: 105
Debt - external
$13.13 billion (31 December 2012 est.) · $12.21 billion (31 December 2011 est.) country comparison to the world: 85
Exchange rates
balboas (PAB) per US dollar - 1 (2012 est.) · 1 (2011 est.) · 1 (2010 est.) · 1 (2009) · 1 (2008)
Energy
23 fieldsInstalled generating capacity, 1.815 million kW(2009 est.)
Carbon dioxide emissions from consumption of energy
15.46 million Mt (2010 est.) country comparison to the world: 89
Communications
7 fieldsTelephone system
- general assessment:
- domestic and international facilities well developed
- domestic:
- mobile-cellular telephone subscribership has increased rapidly
- 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
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)
Transportation
10 fieldsMerchant marine, 6,413 ships by type
Airports by runway lengthpaved only
Airports by runway lengthunpaved only
Networkskm
Waterways
800 km (includes the 82-km Panama Canal that is being widened) (2011) country comparison to the world: 73
Military
No regular military forces; Panamanian public forces include: Panamanian National Police (PNP), National Air-Naval Service (SENAN), National Border Service (SENAFRONT) (2010)
6 fieldsMilitary branches
no regular military forces; Panamanian public forces include: Panamanian National Police (PNP), National Air-Naval Service (SENAN), National Border Service (SENAFRONT) (2010)
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"
Transnational Issues
3 fieldsDisputes - 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
Cite this entry
Central Intelligence Agency. “Panama.” The World Factbook 2012. Archived by The Factbook, thefactbook.org/panama/2012.