Introduction
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 that was named the Republic of Gran Colombia. When the union 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.
Geography
Area
total : 75,420 sq km
land: 74,340 sq km
water: 1,080 sq km
Climate
tropical maritime; hot, humid, cloudy; prolonged rainy season (May to January), short dry season (January to May)
Natural resources
copper, mahogany forests, shrimp, hydropower
People and Society
Population
total: 4,470,241
Ethnic groups
Mestizo (mixed Indigenous and White) 65%, Indigenous 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.)
Languages
Spanish (official), Indigenous languages (including Ngabere (Guaymi), Buglere, Kuna, Embera, Wounaan, Naso (Teribe), and Bri Bri), Panamanian 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)
Religions
Evangelical 55%, Roman Catholic 33.4%, none 10.1%, unspecified 1.5% (2023 est.)
Population growth rate
1.48% (2024 est.)
Government
Government type
presidential republic
Capital
name: Panama City
Executive branch
chief of state: President José Raúl MULINO Quintero (since 1 July 2024)
head of government: President José Raúl MULINO Quintero (since 1 July 2024)
Legislative branch
summary: unicameral National Assembly (71 seats)
Diplomatic representation in the US
chief of mission: Ambassador Ramón Eduardo MARTÍNEZ DE LA GUARDIA (since 16 September 2022)
Diplomatic representation from the US
chief of mission: Ambassador Mari Carmen APONTE (since 21 November 2022)
Economy
Economic overview
upper middle-income Central American economy; increasing Chinese trade; US dollar user; canal expansion fueling broader infrastructure investment; services sector dominates economy; historic money-laundering and illegal drug hub
Real GDP (purchasing power parity)
$159.867 billion (2023 est.)
$148.968 billion (2022 est.)
$134.436 billion (2021 est.)
Real GDP per capita
$35,800 (2023 est.)
$33,800 (2022 est.)
$30,900 (2021 est.)
Exports
$36.569 billion (2023 est.)
$35.731 billion (2022 est.)
$27.488 billion (2021 est.)
Exports - partners
China 17%, Japan 12%, South Korea 8%, US 5%, Spain 5% (2022)
Exports - commodities
copper ore, ships, fish, bananas, refined petroleum (2022)
Imports
$36.135 billion (2023 est.)
$32.693 billion (2022 est.)
$24.459 billion (2021 est.)
Imports - partners
China 20%, US 20%, Guyana 11%, Colombia 11%, Ecuador 9% (2022)
Imports - commodities
crude petroleum, refined petroleum, ships, garments, packaged medicine (2022)
Page last updated: Wednesday, August 07, 2024
