Facts about Panama

The flag of Panama

1. The oceans: Panama is the only place in the world where you can watch the sun rise over the Pacific Ocean and set over the Atlantic Ocean. You can also swim in the Pacific Ocean and the Atlantic Ocean on the same day

2. Panama City: Panama City is the only capital city in the world that has rainforest within its city limits. Approximately 1.2 million people live in Panama City

3. Vasco Núñez de Balboa: The first European to cross Panama (where the Panama Canal is today) was the Spaniard Vasco Núñez de Balboa in 1513. 401 years later, the Panama Canal was built

4. Free insurance: The Panamanian government offers 30 days of free health and accident insurance to all visitors

5. Retirees: Many retirees settle in Panama and the country is considered by many to be a great place to retire

Fact: There is a rainforest in Panama City
Attribution: valentinastorti – Flickr.com

Fact: Panama City is the only capital city in the world to have rainforest within its city limits

 

6. US dollars: Panama was the first Latin American country to adopt the US dollar as its own currency (on par with the existing Balboa)

7. Panama Railroad: The Panama Railway is one of the world’s oldest railways still in use. It opened in 1855 and was especially important during the gold rush of 1948 and the construction of the Panama Canal in 1914

8. Panama: The world-famous and very distinctive Panama hat originates not from Panama, but from Ecuador

9. Sport: Baseball, boxing and soccer are the most played sports in Panama

10. History: Spanish royalty controlled Panama from the 16th century until 1821, when it joined Colombia, Ecuador and Venezuela under the Republic of Gran Colombia. When this was dissolved in 1830, Panama remained part of Colombia. In 1903, Panama seceded from Colombia with the support of the United States and shortly after, the two countries signed an agreement that the United States could build the Panama Canal and also had sovereignty over the lands around each end of the canal (the Panama Canal Zone).

Fact: Approx. 40% of Panama's population lives in Panama City
Attribution: Matthew Straubmuller + Václav Synáček – Flickr.com

Around 40% of Panama’s population lives in the capital Panama City (1.3 million out of 3.5 million people)

Geographic facts

  • Location: Central America. Between Colombia and Costa Rica with a coast facing the Caribbean Sea and the North Pacific Ocean
  • Country borders: Colombia (225 km) and Costa Rica (330 km)
  • Coastline: 2,490 km
  • Climate: Tropical maritime climate. Hot, humid and cloudy with a long rainy season (May - January)
  • Landscape: The inland consists mainly of steep, jagged mountains and intersecting plateaus. The coastal areas are characterized by plains and rolling hills
  • Lowest point: 0 m (Pacific Ocean)
  • Highest point: 3,475 m (Volcan Baru)
  • Natural resources: Copper, mahogany, shrimp and hydropower
  • Largest city: Panama City
  • Capital city: Panama City
  • Total area (square kilometers): 75.320,00 (2021)
  • Land areas (km2): 73.613,77 (2015)
  • Urban areas (km2): 1.070,98 (2015)
  • Agricultural land (km2): 21.813,16 (2021)
  • Agricultural area (% of total area): 29,41 (2021)
  • Forest area (% of land area): 56,65 (2021)
  • Plant species (higher), endangered: 212,00 (2018)
  • CO2 emissions (metric tons per capita): 2,23 (2020)

Demographic facts

Population

  • Population density (people per km2 total area): 1,63 (2020)
  • Population of largest city: 58,66 (2021)
  • Population growth (annual %): 1.976.866,00 (2023)
  • Population, total: 1,34 (2023)
  • Population growth in urban areas (annual %): n/a
  • Population in urban areas (% of total population): n/a
  • Population in rural areas (% of total population): 101,46 (2022)
  • Population growth in rural areas (annual %): 15,14 (2023)
  • Etniske grupper: 70% mestizo (a mix of white and Native American), 14% Native American and mixed race, 10% white and 6% Native American
  • Sprog: Spanish (the official language) and English (approx. 14%)
  • Religioner: 85% Roman Catholics and 15% Protestants
  • Net immigration: 11,40 (2022)

Birth and death rates

  • Fertility rate, total (births per woman): 2,30 (2022)
  • Birth rate, gross (per 1,000 inhabitants): 17,40 (2022)
  • Teenage mothers (% of women aged 15-19 who have had children or are pregnant): 69,51 (2023)
  • Death rate, gross (per 1,000 people): 5,90 (2022)
  • Life expectancy at birth, women (years): 80,09 (2022)
  • Life expectancy at birth, men (years): 73,73 (2022)
  • Life expectancy at birth, all (years): 76,83 (2022)
  • Mortality caused by traffic accidents (per 100,000 inhabitants): 156,31 (2022)
  • Mortality, women (per 1,000 adult women): 13,90 (2019)
  • Mortality, male (per 1,000 adult males): 82,18 (2022)
  • Suicide rate, women (per 100,000 women): 154,07 (2022)
  • Mortality, infant (per 1,000 live births): 4,70 (2019)

Work, income and education

  • Wage earners, total (% of total labor force): n/a
  • Income share of the highest 10%: 36,90 (2023)
  • Income share of the lowest 10%: 1,20 (2023)
  • Unemployment, total (% of total labor force): 6,60 (2019)
  • Labor force, total: 2.095.776,00 (2023)
  • Workforce with basic education (% of the workforce): 52,75 (2023)
  • Labor force with medium education (% of labor force): 67,37 (2023)
  • Number of poor cf. national poverty limits (% of the population): 4.468.087,00 (2023)
  • Proportion of the population with moderate or severe food insecurity (%): 485,00 (2000)
  • School enrolments, primary school (gross %): 6,68 (2023)
  • Youth unemployment, all young people (% of total labor force aged 15 - 24): 55,68 (2022)
  • Young people not in education, employment or training, total (% of all young people): 5,00 (2020)
  • Literacy/literacy, total adults (% of population over 15): 300.856,92 (2022)

    Spending

  • Household (and NPIS) consumption expenditure (US$): 65.776.857.787,70 (2022)
  • Electricity consumption (kWh per inhabitant): 2.070,82 (2014)
  • Inhabitants using the Internet (% of the population): 67,51 (2021)
  • Mobile subscriptions (per 100 people): 17,00 (2018)
  • Number of smokers, total (over 15 years): 16,73 (2023)
  • Alcohol consumption per capita (litres of pure alcohol, expected estimates, +15 years): 1,88 (2023)

Business and tourism

  • Employers, total (% of total labor force): 2,20 (2022)
  • New companies (number of registrations): 4,55 (2022)
  • New businesses (new registrations per 1,000 inhabitants aged 15 - 64): 7.262,00 (2023)
  • Listed companies, total: 33,00 (2022)
  • Business conditions (0 = lowest grade to 100 = highest grade): 30,49 (2023)
  • International tourism, number of arrivals: 647.000,00 (2020)
  • International tourism, number of departures: 401.000,00 (2020)
  • Railway lines (total route kilometers): 30,49 (2023)
  • Railways, number of passengers transported (million passenger-kilometres): 0,13 (2023)

Health

  • Hospital beds (per 1,000 inhabitants): 2,25 (2016)
  • Suicide rate, men (per 100,000 men): 1,00 (2019)
  • Nurses and midwives (per 1,000 inhabitants): 13.048,00 (2022)
  • Doctors (per 1,000 inhabitants): 3,54 (2020)
  • Prevalence of HIV, total (% of population aged 15 - 49): 127,50 (2023)

Facts Panama's economy

GDP and GNI

  • BNP (US$): 2,80 (2006)
  • GDP growth (annual %): 66,56 (2019)
  • GDP per capita (US$): 83.382.400.000,00 (2023)
  • GDP, KPP (US$): 7,32 (2023)
  • BNI (US$): 18.661,77 (2023)
  • GNI growth (annual %): 177.361.079.662,57 (2023)
  • Gross savings (% of GDP): 80.057.282.711,91 (2023)

Inflation, interest rates and consumer prices

  • Deposit rate (%): 21,66 (2021)
  • Lending rate (%): 1,49 (2023)
  • Inflation, consumer prices (annual %): 27,14 (2023)
  • Consumer Price Index (2010 = 100): 127,50 (2023)

Trade and production

  • Trade (% of GDP): 29,53 (2022)
  • Vareeksport (US$): 4,68 (2023)
  • Vareimport (US$): 3.902.687.031,58 (2023)
  • Food exports (% of merchandise exports): 17,39 (2023)
  • Food imports (% of goods imports): 16,34 (2023)
  • Food Production Index (2004 - 2006 = 100): 115,45 (2022)
  • Index of animal production (2004 - 2006 = 100): 20,00 (2019)

Industry

  • Industry (including construction), value added (% of GDP): 12,59 (2022)
  • Industry (including construction), value added (US$): 37,15 (2022)
  • Industry, value added (% of GDP): 6,91 (2022)
  • Industry, value added (US$): 106,53 (2022)

Military

  • Armed forces, total: 28.000,00 (2020)
  • Military expenditure (% of GDP): 15.713.000.000,00 (2023)
  • Military Expenditure (US$): 35.095.000.000,00 (2023)

Others

  • Current health expenditure (% of GDP): 21,66 (2021)
  • Labor tax and contribution (% of company profit): 22.630.608.428,05 (2023)
  • Development Assistance (ODA) received per capita (US$): 0,97 (1999)
  • Social contributions (% of income): 0,00 (2022)