Facts About Panama

Knowledge of the country you plan to invest in is important before purchasing property there. Below, we have gathered some information on Panama to help you with your research.


Research and Facts about Panama

(from CIA World Factbook)

Information Required When Travelling to Panama:

Country Name:

Panama

Location:

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

Area:

78,200 sq km

Land:

75,990 sq km

Water:

2,210 sq km

Land Boundaries:

555 km

Border Countries:

Colombia 225 km, Costa Rica 330 km

Coastline:

2,490 km

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

Geography:

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

Population:

3,292,693 (July 2008 est.)

Age Structure:

(2008 est.)

0-14 Years:

29.8% (male 500,579/female 480,635)

15-64 Years:

63.6% (male 1,061,446/female 1,033,675)

65 Years and Over:

6.6% (male 100,780/female 115,578)

Average Age:

(2008 est.)

Total:

26.6 years

Male:

26.3 years

Female:

26.9 years

Ethnic Groups:

Mestizo (mixed Amerindian and white) 70%, Amerindian and mixed (West Indian) 14%, white 10%, Amerindian 6%

Religions:

Roman Catholic 85%, Protestant 15%

Languages:

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

Government

Type:

constitutional democracy

Capital:

Panama

Provincial:

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

Independence:

3 November 1903 (from Colombia; became independent from Spain 28 November 1821)

Economy

Currency:

US Dollar (USD)

GDP Growth Rate:

7.8% (2007 est.)

Labour Occupations:

agriculture: 6.8%
industry: 16.2%
services: 77% (2007 est.)

Unemployment Rate:

7.2% (2007 est.)

Inflation Rate:

5.1% (2007 est.)

Agriculture Produce:

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

Transportation

Railways:

total: 355 km
standard gauge: 77 km 1.435-m gauge
narrow gauge: 278 km 0.914-m gauge (2006)

Roads:

total: 11,643 km
paved: 4,028 km
unpaved: 7,615 km (2000)

Airports:

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: 18
under 914 m: 29 (2007)

Ports & Harbours:

Balboa, Colon, Cristobal

Communications

Mains Telephones:

432,900 (2006)

Mobile Telephones:

1.694 million (2005)

Television Stations:

38 (including repeaters) (1998)

Internet Users:

220,000 (2006)

Country Internet Code:

.pa

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