Panama

Internet country code

.pa

Internet hosts

8,067 (2009) country comparison to the world: 124

Internet users

934,500 (2008) country comparison to the world: 92

Radio broadcast stations

AM 101, FM 134, shortwave 0 (1998)

Telephone system

general assessment: domestic and international facilities well developed domestic: mobile-cellular telephone subscribership has increased rapidly with combined fixed and mobile-cellular teledensity reaching 130 per 100 persons in 2008 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

495,800 (2008) country comparison to the world: 97

Telephones - mobile cellular

3.805 million (2008) country comparison to the world: 95

Television broadcast stations

38 (including repeaters) (1998)

Agriculture - products

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

Budget

revenues: $6.02 billion expenditures: $5.923 billion (2008 est.)

Commercial bank prime lending rate

8.16% (31 December 2008) country comparison to the world: 103 8.25% (31 December 2007)

Current account balance

-$2.792 billion (2008 est.) country comparison to the world: 146 -$1.422 billion (2007 est.)

Debt - external

$11.26 billion (31 December 2008 est.) country comparison to the world: 82 $10.45 billion (31 December 2007 est.)

Distribution of family income - Gini index

56.1 (2003) country comparison to the world: 12 48.5 (1997)

Economy - overview

Panama's dollarized economy rests primarily on a well-developed services sector that accounts for 80% 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 high unemployment rate. Strong economic performance has reduced the national poverty level to 29% in 2008; however, Panama has the second most unequal income distribution in Latin America. 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.

Electricity - consumption

5.17 billion kWh (2007 est.) country comparison to the world: 105

Electricity - exports

124.9 million kWh (2007 est.)

Electricity - imports

8.74 million kWh (2007 est.)

Electricity - production

6.322 billion kWh (2007 est.) country comparison to the world: 104

Exchange rates

balboas (PAB) per US dollar - 1 (2008 est.), 1 (2007), 1 (2006), 1 (2005), 1 (2004) note: the US dollar is the legal currency

Exports

$10.29 billion (2008 est.) country comparison to the world: 86 $9.338 billion (2007 est.) note: includes the Colon Free Zone

Exports - commodities

bananas, shrimp, sugar, coffee, clothing

Exports - partners

US 39.2%, Netherlands 10.7%, Costa Rica 5.8%, Sweden 5.4%, UK 5.4%, Spain 5%, China 4.1% (2008)

GDP (official exchange rate)

$23.09 billion (2008 est.)

GDP (purchasing power parity)

$38.92 billion (2008 est.) country comparison to the world: 99 $35.64 billion (2007 est.) $31.96 billion (2006 est.) note: data are in 2008 US dollars

GDP - composition by sector

agriculture: 6.4% industry: 17.2% services: 76.4% (2008 est.)

GDP - per capita (PPP)

$11,800 (2008 est.) country comparison to the world: 94 $10,900 (2007 est.) $10,000 (2006 est.) note: data are in 2008 US dollars

GDP - real growth rate

9.2% (2008 est.) country comparison to the world: 16 11.5% (2007 est.) 8.5% (2006 est.)

Household income or consumption by percentage share

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

Imports

$15 billion (2008 est.) country comparison to the world: 82 $12.52 billion (2007 est.) note: includes the Colon Free Zone

Imports - commodities

capital goods, foodstuffs, consumer goods, chemicals

Imports - partners

US 29.6%, Costa Rica 5%, China 5%, Japan 4.2% (2008)

Industrial production growth rate

14.2% (2008 est.) country comparison to the world: 2

Industries

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

Inflation rate (consumer prices)

8.8% (2008 est.) country comparison to the world: 137 4.2% (2007 est.)

Investment (gross fixed)

25.7% of GDP (2008 est.) country comparison to the world: 47

Labor force

1.392 million country comparison to the world: 131 note: shortage of skilled labor, but an oversupply of unskilled labor (2008 est.)

Labor force - by occupation

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

Market value of publicly traded shares

$6.568 billion (31 December 2008) country comparison to the world: 80 $6.219 billion (31 December 2007) $5.716 billion (31 December 2006)

Natural gas - consumption

0 cu m (2008 est.) country comparison to the world: 152

Natural gas - exports

0 cu m (2008) country comparison to the world: 133

Natural gas - imports

0 cu m (2008 est.) country comparison to the world: 145

Natural gas - production

0 cu m (2008 est.) country comparison to the world: 142

Natural gas - proved reserves

0 cu m (1 January 2009 est.) country comparison to the world: 146

Oil - consumption

94,000 bbl/day (2008 est.) country comparison to the world: 77

Oil - exports

4,803 bbl/day (2007 est.) country comparison to the world: 106

Oil - imports

87,100 bbl/day (2007 est.) country comparison to the world: 71

Oil - production

0 bbl/day (2008 est.) country comparison to the world: 141

Oil - proved reserves

0 bbl (1 January 2009 est.) country comparison to the world: 144

Population below poverty line

28.6% (2006 est.)

Public debt

45% of GDP (2008 est.) country comparison to the world: 45 69.2% of GDP (2004 est.)

Reserves of foreign exchange and gold

$2.693 billion (31 December 2008 est.) country comparison to the world: 97 $1.935 billion (31 December 2007 est.)

Stock of direct foreign investment - abroad

$NA

Stock of direct foreign investment - at home

$NA

Stock of domestic credit

$19.8 billion (31 December 2008) country comparison to the world: 59 $17.4 billion (31 December 2007)

Stock of money

$3.764 billion (31 December 2008) country comparison to the world: 61 $3.054 billion (31 December 2007)

Stock of quasi money

$15.84 billion (31 December 2008) country comparison to the world: 44 $14.26 billion (31 December 2007)

Unemployment rate

5.6% (2008 est.) country comparison to the world: 68 6.4% (2007 est.)

Area

total: 75,420 sq km country comparison to the world: 117 land: 74,340 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

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

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

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

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

Land use

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

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

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

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)

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

name: Panama City geographic coordinates: 8 58 N, 79 32 W 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 Barbara J. STEPHENSON 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

Diplomatic representation in the US

chief of mission: Ambassador Jaime Eduardo ALEMAN Healy 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

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 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 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: government coalition - PRD (Democratic Revolutionary Party), PP (Popular Party)

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

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, WCL, 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 are elected by popular vote to serve five-year terms) elections: last held 3 May 2009 (next to be held May 2014) election results: percent of vote by party - NA; seats by party - PRD 26, Panamenista 22, CD 14, PU 4, Independent 2, MOLIRENA 2, 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

National holiday

Independence Day, 3 November (1903)

Political parties and leaders

Democratic Change or CD [Ricardo MARTINELLI]; Democratic Revolutionary Party or PRD [Martin TORRIJOS Espino]; Nationalist Republican Liberal Movement or MOLIRENA [Sergio GONZALEZ-Ruiz]; Panamenista Party [Juan Carlos VARELA] (formerly the Arnulfista Party); Patriotic Union Party or UP (combination of the Liberal National Party or PLN and the Solidarity Party or PS)[Guillermo "Billy" FORD 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

Suffrage

18 years of age; universal and compulsory

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 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.

Manpower available for military service

males age 16-49: 851,044 (2008 est.)

Manpower fit for military service

males age 16-49: 705,160 females age 16-49: 710,521 (2009 est.)

Manpower reaching militarily significant age annually

male: 31,089 female: 29,939 (2009 est.)

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) (2009)

Military expenditures

1% of GDP (2006) country comparison to the world: 138

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) (2009 est.)

Birth rate

20.18 births/1,000 population (2009 est.) country comparison to the world: 96

Death rate

4.66 deaths/1,000 population (July 2009 est.) country comparison to the world: 195

Education expenditures

3.8% of GDP (2004) country comparison to the world: 114

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.) country comparison to the world: 53

HIV/AIDS - deaths

fewer than 1,000 (2007 est.) country comparison to the world: 77

HIV/AIDS - people living with HIV/AIDS

20,000 (2007 est.) country comparison to the world: 80

Infant mortality rate

total: 12.67 deaths/1,000 live births country comparison to the world: 139 male: 13.53 deaths/1,000 live births female: 11.77 deaths/1,000 live births (2009 est.)

Languages

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

Life expectancy at birth

total population: 77.25 years country comparison to the world: 59 male: 74.47 years female: 80.16 years (2009 est.)

Literacy

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

Major infectious diseases

degree of risk: intermediate food or waterborne diseases: bacterial diarrhea vectorborne disease: dengue fever and malaria (2009)

Median age

total: 27 years male: 26.6 years female: 27.3 years (2009 est.)

Nationality

noun: Panamanian(s) adjective: Panamanian

Net migration rate

-0.49 migrant(s)/1,000 population (2009 est.) country comparison to the world: 111

Population

3,360,474 (July 2009 est.) country comparison to the world: 134

Population growth rate

1.503% (2009 est.) country comparison to the world: 87

Religions

Roman Catholic 85%, Protestant 15%

School life expectancy (primary to tertiary education)

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

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 (2009 est.)

Total fertility rate

2.53 children born/woman (2009 est.) country comparison to the world: 92

Urbanization

urban population: 73% of total population (2008) rate of urbanization: 2.7% annual rate of change (2005-10 est.)

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

Trafficking in persons

current situation: Panama is a source, transit, and destination country for women and children trafficked for the purpose of commercial sexual exploitation; the majority of victims are Panamanian women and children trafficked within the country into the sex trade; rural children in Panama may be trafficked internally to urban areas for labor exploitation tier rating: Tier 2 Watch List - Panama is on the Tier 2 Watch List for failing to show evidence of increasing efforts to combat human trafficking, particularly with respect to prosecuting, convicting, and sentencing human traffickers for their crimes, and for failing to provide adequate victim assistance (2008)

Airports

117 (2009) country comparison to the world: 52

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 (2009)

Airports - with unpaved runways

total: 63 1,524 to 2,437 m: 1 914 to 1,523 m: 11 under 914 m: 51 (2009)

Heliports

3 (2009)

Merchant marine

total: 6,323 country comparison to the world: 1 by type: barge carrier 2, bulk carrier 2,143, cargo 1,208, carrier 13, chemical tanker 565, combination ore/oil 6, container 790, liquefied gas 189, passenger 44, passenger/cargo 71, petroleum tanker 557, refrigerated cargo 265, roll on/roll off 128, specialized tanker 29, vehicle carrier 313 foreign-owned: 5,394 (Albania 2, Argentina 8, Australia 4, Azerbaijan 1, Bahamas 9, Bangladesh 2, Belgium 2, British Virgin Islands 1, Bulgaria 3, Burma 1, Canada 18, Chile 12, China 532, Colombia 4, Croatia 3, Cuba 10, Cyprus 19, Denmark 40, Dominican Republic 1, Ecuador 4, Egypt 17, Estonia 5, Finland 2, France 5, Gabon 1, Germany 44, Gibraltar 1, Greece 510, Hong Kong 130, India 27, Indonesia 31, Iran 7, Israel 3, Italy 28, Japan 2,335, Jordan 13, North Korea 1, South Korea 303, Kuwait 2, Latvia 8, Lebanon 5, Lithuania 7, Malaysia 12, Maldives 1, Malta 3, Mexico 2, Monaco 16, Netherlands 14, Nigeria 10, Norway 89, Oman 2, Pakistan 9, Peru 16, Philippines 7, Poland 11, Portugal 9, Qatar 1, Romania 7, Russia 18, Saudi Arabia 16, Singapore 100, Spain 50, Sri Lanka 1, Sweden 6, Switzerland 25, Syria 32, Taiwan 320, Thailand 10, Tunisia 1, Turkey 94, Turks and Caicos Islands 1, Ukraine 10, UAE 109, UK 59, US 126, Venezuela 10, Vietnam 30, Yemen 6) registered in other countries: 3 (Marshall Islands 1, Sierra Leone 1, Venezuela 1) (2008)

Ports and terminals

Balboa, Colon, Cristobal

Railways

total: 76 km country comparison to the world: 128 standard gauge: 76 km 1.435-m gauge (2008)

Roadways

total: 11,978 km country comparison to the world: 132 paved: 4,300 km unpaved: 7,678 km (2002)

Waterways

800 km (includes 82 km Panama Canal) (2008) country comparison to the world: 72