Attribute | Value |
---|---|
Geography | |
Area | 75,420 km² |
Continent | North America |
Land area | 74,340 km² |
Water area | 1,080 km² |
Land boundaries | 687 km |
Border countries |
|
Coastline | 2,490 km |
Mean elevation | 360 m |
Lowest point | 0 m |
Highest point | 3,475 m |
People | |
Population | 3,894,082 |
Official languages |
|
Religion | Roman Catholic |
Government | |
Long country name | Republic of Panama |
Short country name | Panama |
Long local name | Republica de Panama |
Short local name | Panama |
Former name | Add |
Government type | Presidential republic |
Capital | Panama City |
Economy | |
GDP (PPP) | 104,100,000,000 USD |
GDP (OER) | 61,840,000,000 USD |
GDP (real growth rate) | 5.4 % |
GDP - per capita (PPP) | 25,400 USD |
Gross national saving | 38.9 % of GDP |
Labor force | 1,633,000 |
Unemployment rate | 6 % |
Population below poverty line | 23 % |
Budget revenues | 12,430,000,000 USD |
Budget expenditures | 13,440,000,000 USD |
Military expenditures | Add |
Taxes and other revenues | 20.1 % of GDP |
Budget surplus or deficit | -1.6 % of GDP |
Public debt | 37.8 % of GDP |
Inflation rate | 0.9 % |
Central bank discount rate | Add |
Commercial bank prime lending rate | 7.52 % |
Stock of narrow money | 8,347,000,000 USD |
Stock of broad money | 8,347,000,000 USD |
Stock of domestic credit | 51,050,000,000 USD |
Market value of publicly traded shares | 12,540,000,000 USD |
Current account balance | -3,036,000,000 USD |
Exports | 15,500,000,000 USD |
Imports | 21,910,000,000 USD |
Reserves of foreign exchange and gold | 2,703,000,000 USD |
External debt | 91,530,000,000 USD |
National currency | balboas |
National currency (code) | PAB |
National currency (symbol) | B/. |
National currency rate to USD | 1 |
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 - named the Republic of Gran Colombia. When the latter 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 and US sovereignty over a strip of land on either side of the structure (the Panama Canal Zone). The Panama Canal was built by the US Army Corps of Engineers between 1904 and 1914. In 1977, an agreement was signed for the complete transfer of the Canal from the US to Panama by the end of the century. Certain portions of the Zone and increasing responsibility over the Canal were turned over in the subsequent decades. With US help, dictator Manuel NORIEGA was deposed in 1989. The entire Panama Canal, the area supporting the Canal, and remaining US military bases were transferred to Panama by the end of 1999. An ambitious expansion project to more than double the Canal's capacity - by allowing for more Canal transits and larger ships - was carried out between 2007 and 2016.