Panama

Panama 

Geography                 Economy                 Defense Forces
 

People                    Transportation          Government



Communications            History      	          Travel

GEOGRAPHY

Location

Middle America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica

Area

Land Boundaries

Total 555 km, Colombia 225 km, Costa Rica 330 km

Coastline

2,490 km

Maritime Claims

International Disputes

None

Climate

Tropical; 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
lowest point: Pacific Ocean 0 m
highest point: Volcan de Chiriqui 3,475 m

Natural Resources

Land Use

Irrigated Land

320 sq km (1989 est.)

Environment

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

Population

2,655,094 (July 1996 est.)
2,680,903 (July 1995 est.)

Age Structure

0-14 Years

33% (male 445,382; female 426,111) (July 1996 est.)
34% (male 458,817; female 439,491) (July 1995 est.)

15-64 Years

62% (male 828,384; female 806,205) (July 1996 est.)
61% (male 823,124; female 812,876) (July 1995 est.)

65 Years and Over

5% (male 71,823; female 77,189) (July 1996 est.)
5% (male 71,923; female 74,672) (July 1995 est.)

Population Growth Rate

1.64% (1996 est.)
1.9% (1995 est.)

Birth Rate

23.2 births/1,000 population (1996 est.)
24.12 births/1,000 population (1995 est.)

Death Rate

5.42 deaths/1,000 population (1996 est.)
4.79 deaths/1,000 population (1995 est.)

Net Migration Rate

-1.42 migrant(s)/1,000 population (1996 est.)
-0.36 migrant(s)/1,000 population (1995 est.)

Sex ratio

at birth: 1.04 male(s)/female
under 15 years: 1.04 male(s)/female
15-64 years: 1.03 male(s)/female
65 years and over: 0.93 male(s)/female
all ages: 1.03 male(s)/female (1996 est.)

Infant Mortality Rate

29.7 deaths/1,000 live births (1996 est.)
15.8 deaths/1,000 live births (1995 est.)

Life Expectancy at Birth

Total Fertility Rate

2.71 children born/woman (1996 est.)
2.8 children born/woman (1995 est.)

Nationality

Ethnic Divisions

Religions

Languages

Spanish (official), English 14%

Note: Many Panamanians bilingual

Literacy

Age 15 and over that can read and write (1995 est.)

Labor Force

979,000 (1994 est.)

By occupation:

Note: Shortage of skilled labor, but an oversupply of unskilled labor

GOVERNMENT

Names

Digraph

PM

Type

Constitutional republic

Capital

Panama

Administrative Divisions

9 provinces (provincias, singular - provincia) and 1 territory* (comarca); Bocas del Toro, Chiriqui, Cocle, Colon, Darien, Herrera, Los Santos, Panama, San Blas*, 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 April 1983

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

Legislative Branch

Unicameral

Legislative Assembly (Asamblea Legislativa)

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; elections last held 8 May 1994 (next to be held 9 May 1999); results - percent of vote by party NA ; seats - (72 total) PRD 32, PS 4, PALA 1, PA 14, MPE 6, MOLIRENA 4, PLA 3, PRC 3, PL 2, PDC 1, UDI 1, MORENA 1

Judicial Branch

Supreme Court of Justice (Corte Suprema de Justicia), nine judges appointed for 10-year terms; five superior courts; three courts of appeal

Political Parties and Leaders

Other Political or Pressure Groups

National Council of Organized Workers (CONATO); National Council of Private Enterprise (CONEP); Panamanian Association of Business Executives (APEDE); National Civic Crusade; Chamber of Commerce; Panamanian Industrialists Society (SIP); Workers Confederation of the Republic of Panama (CTRP)

Member of

AG (associate), ECLAC, FAO, G-77, IADB, IAEA, IBRD, ICAO, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Intelsat, Interpol, IOC, IOM, ITU, LAES, LAIA (observer), NAM, OAS, OPANAL, PCA, UN, UNCTAD, UNESCO, UNIDO, UPU, WCL, WFTU, WHO, WIPO, WMO, WToO, WTrO (applicant)

National Anthem

Flag

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

Overview

Because of its key geographic location, Panama's economy is service-based, heavily weighted toward banking, commerce, and tourism. The manufacturing and agriculture sectors have become inefficient under protectionist policies. After fast growth during the early 1990s, the economy has slowed down in the last two years, with GDP growth at 2.8% in 1994 and in 1995. The slowdown has been due mostly to a reduction in construction activities and stagnation in the Colon Free Zone and financial services, the three fastest growing sectors early in the decade. To counter the slowdown, the PEREZ BALLADARES administration has launched an economic reform program designed to reverse unemployment, attract foreign investment, cut back the size of government, and modernize the economy. In 1995, Panama reached an agreement in principle to reschedule its commercial debt - one of the highest in the world in per capita terms - which will allow the country to reenter international financial markets. Panama should complete all requirements to join the World Trade Organization (WTrO) in 1996.

National Product

GDP - purchasing power parity - $13.6 billion (1995 est.); $12.3 billion (1994 est.)

National Product Real Growth Rate

2.8% (1995 est.)
3.6% (1994 est.)

National Product Per Capita

$5,100 (1995 est.)
$4,670 (1994 est.)

Inflation Rate (consumer Prices)

1.1% (1995)
1.8% (1994)

Unemployment Rate

13.8% (1995)
12.9% (1994)

Budget

Exports

$548 million (f.o.b., 1995)
$520 million (f.o.b., 1994)

Commodities:

Partners:

Imports

$2.45 billion (c.i.f., 1995)
$2.205 billion (c.i.f., 1994)

Commodities:

Partners:

External Debt

$6.7 billion (yearend 1993 est.)

Industrial Production

Growth rate 0.4% (1995 est.); 1.8% (1994 est.); accounts for 16% of GDP

Electricity

Industries

Agriculture

Accounts for 10% of GDP (1995 est.); crops - bananas, rice, corn, coffee, sugarcane; livestock; fishing; importer of food grain, vegetables

Illicit Drugs

Major cocaine transshipment point and major drug money laundering center; minor producer of coca leaf; active eradication program

Economic Aid

Currency

1 balboa (B) = 100 centesimos

Exchange Rates

Balboas (B) per US$1 - 1.000 (fixed rate)

Fiscal Year

Calendar year

TRANSPORTATION

Railroads

Highways

Inland Waterways

800 km navigable by shallow draft vessels; 82 km Panama Canal

Pipelines

Crude oil 130 km

Ports

Bahia de las Minas, Balboa, Colon, Cristobal, Panama

Merchant Marine

Note: A flag of convenience registry; includes ships from 83 countries among which are Japan 1,212 ships, Greece 360, Hong Kong 263, U.S. 212, Taiwan 203, South Korea 198, U.S. 160, China 152 ships, Singapore 118, U.K. 79, Switzerland 67 and Norway 58 (1995 est.)

Airports

COMMUNICATIONS

Telephone System

273,000 telephones (1991 est.); domestic and international facilities well developed

Radio

Television

DEFENSE FORCES

Branches

Panamanian Public Forces (PPF; includes the National Police or PNP, Maritime Service, National Air Service, and Institutional Protective Service); Judicial Branch Technical Police

Manpower Availability

Males age 15-49 705,427; males fit for military service 484,571 (1996 est.)

Defense Expenditures

Exchange rate conversion - $78 million, NA% of GDP (1995); $105 million, 1.0% of GDP (1993 est.); note - for police and security forces

History
World Atlas