Panama FlagPanama

For The Benefit Of All Mankind.



Population: 3,608,431 (2014), 3,559,408 (2013)
Land Area: 78,200 sq km
Natural Resources: Copper, mahogany forests, shrimp, hydro power
Capital: Panama
Political System: Constitutional Democracy
State Leader: Ricardo Martinelli (July 1st 2009)
Languages: Spanish, English
Currency: Balboa (PAB)
Major Religions: Roman Catholic 85%, Protestant 15%
Major Ethnicities: Mestizo 70%, Amerindian and Mixed (West Indian)14%, Caucasian 10%, Amerindian 6%
Life Expectancy: 78.3 years (2014), 78.13 years (2013)


GDP Official Exchange Rate: 40.62 billion (2013), 36.25 billion (2012)
GDP Purchasing Power Parity:61.54 billion (2013), 58.02 billion (2012)
GDP Per Capita (PPP): 16,500 (2013), 15,900 (2012)
GDP Growth Rate: 7.5% (2013), 10.7% (2012)
GDP Structure: Agriculture 3.7%, Industry 17.9%, Services 78.4% (2013)
Labour Force By Occupation: Agriculture 17.6%, Industry 8.8%, Services 73.6% (2009)
Industries: Construction, brewing, cement and other construction materials, sugar milling
Agriculture Products: Bananas, rice, corn, coffee, sugarcane, vegetables; livestock, shrimp
Human Development Index: 0.765 (65th)(2014), 0.780 (59th)(2013)
Tourism Revenue: 903 million (2004)
Unemployment Rate: 4.5% (2013), 4.4% (2012)

MilitaryPanama Map

Army Size: 11 800 (2004)
Budget: 1% of GDP (2006)

Current Situation


Panama is located in Central America. Panama is bordered by Colombia and Costa Rica. Panama's economy is based around the services sector with banking and tourism being some of the major sectors. The Panama Canal is also a large part of the economy.

(2013) Construction is ongoing to expand the Panama Canal with work to be completed by 2015 this should give the economy a boost.

(2014) Panama's economy continues to grow at very growth rate mostly driven by the foreign trade that passes through the Panama Canal.

Thoughts & Comments



CIA World Factbook: Panama
Wikipedia: Panama

Updated on: November 21st, 2014