Data at glance of Panama - average on period

History

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 that was named the Republic of Gran Colombia. When the union 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 known as the Panama Canal Zone on either side of the structure. The US Army Corps of Engineers built the Panama Canal 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, Panamanian 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.

Environment

Area: 75,420 sq km km2

Climate: tropical maritime; hot, humid, cloudy; prolonged rainy season (May to January), short dry season (January to May)

Natural resources: copper, mahogany forests, shrimp, hydropower

Ethnic characteristics

Groups: Mestizo (mixed Indigenous and White) 65%, Indigenous 12.3% (Ngabe 7.6%, Kuna 2.4%, Embera 0.9%, Bugle 0.8%, other 0.4%, unspecified 0.2%), Black or African descent 9.2%, Mulatto 6.8%, White 6.7% (2010 est.)

Languages: Spanish (official), Indigenous languages (including Ngabere (Guaymi), Buglere, Kuna, Embera, Wounaan, Naso (Teribe), and Bri Bri), Panamanian English Creole (a mixture of English and Spanish with elements of Ngabere, also known as Guari Guari and Colon Creole), English, Chinese (Yue and Hakka), Arabic, French Creole, other (Yiddish, Hebrew, Korean, Japanese)

Religions: Evangelical 55%, Roman Catholic 33.4%, none 10.1%, unspecified 1.5% (2023 est.)

Government

Capital: Panama City

Government type: presidential republic

Executive branch

Chief of state: President José Raúl MULINO Quintero (since 1 July 2024)

Head of government: President José Raúl MULINO Quintero (since 1 July 2024)

Legislative branch

Description: National Assembly (Asamblea Nacional) - unicameral

Industries

construction, brewing, cement and other construction materials, sugar milling

GDP by sector: Agriculture: 2.6% (2024 est.), Industry: 26.3% (2024 est.), Services: 68.8% (2024 est.)

Trade

Export partners: China 25%, Japan 10%, USA 6%, Thailand 5%, Costa Rica 5% (2023)

Export commodities: copper ore, ships, refined petroleum, bananas, fish (2023)

Import partners: USA 15%, Colombia 13%, China 13%, Ecuador 13%, Japan 11% (2023)

Import commodities: crude petroleum, ships, refined petroleum, nitrogen compounds, cars (2023)

Geography

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

Defence

Military expenditure: 2024: 1.1% of GDP (2024 est.)