Panama: Sovereign state in Central America

Its official name is the Republic of Panama, and it's most famous for the Panama Canal. Countries bordering Panama are Costa Rica in the Northwest and Colombia in the Southeast. Panama is between the Caribbean Sea and the Pacific Ocean. Most of the people in Panama are Roman Catholic (about 80%).

Republic of Panama República de Panamá  (Spanish)
Flag Coat of arms
Motto: "Pro Mundi Beneficio" (Latin) "For the Benefit of the World"
Anthem: Himno Nacional de Panamá  (Spanish) National anthem of Panama
Capital and largest city	Panama City
Official languages	Spanish
National languages	English Miskito Garifuna
Ethnic groups	68% Amerindian–Mestizo 15% Black 10% White 6% Amerindian 1% other
Demonym(s)	Panamanian
Government	Unitary presidential constitutional republic
• President	Laurentino Cortizo
• Vice President	Jose Gabriel Carrizo
Legislature	National Assembly
Independence
• from Spain	November 28, 1821
• from Colombia	November 3, 1903
Area
• Total	75,517 km2 (29,157 sq mi) (118th)
• Water (%)	2.9
Population
• January 2013 census	4,100,000
• Density	542/km2 (1,403.8/sq mi) (156th)
GDP (PPP)	2012 estimate
• Total	$55.797 billion
• Per capita	$15,265
GDP (nominal)	2012 estimate
• Total	$34.819 billion
• Per capita	$9,526
Gini (2009)	52 high
HDI (2013)	0.780 high · 59th
Currency	Balboa United States dollar (PAB, USD)
Time zone	UTC−5 (EST)
Driving side	right
Calling code	+507
ISO 3166 code	PA
Internet TLD	.pa

The Caribbean coastline has many good natural harbors. However, Cristóbal, at the Caribbean terminus of the canal, had the only important port facilities in the late 1980s. The many islands of the Archipiélago de Bocas del Toros, near the beaches of Costa Rica, made an extensive natural roadstead and shield for the port of Almirante. The over 350 San Blas Islands, near Colombia, are spread out for more than 160 kilometres (99 mi) along the sheltered Caribbean coastline.

The population of Panama is about 3,405,813 in May 2010. The ethnic makeup of Panama is:

• 50.1%: Multiracial (European, African, Native American, Others).
• 22.0%: Black African (Bantu-Congo 42%, Akan-Igbo 20%, Mandinga-Wolof 20%, Yoruba 10%, Others 8%).
• 6.7%: Native American (Embera, Wounaan, Ngobe bugle, Kuna, Naso, Bribri).
• 8.6%: White European (Spanish-Canarian 74%, German 13%, Italian and Others 13%).
• 5.5%: Asian (Chinese 93%, Korean and Japanese 7%).
• 7.1%: Other.

The information there **Other** is likely including Arabs, East Indians, and some Russian.

For ships, Panama is a flag of convenience.

In 2011 Panama had an unemployment rate of 2.7%. Panama also had a food surplus in August 2008. Panama was ranked at number 60 on the Human Development Index in 2008.

Panama's economy has experienced an economic boom in recent years. Real gross domestic product (GDP) growth was over 10.4% from 2006 to 2008. The Panamanian economy has been one of the fastest growing and best managed in Latin America. Latin Business Chronicle has predicted that Panama will be the fastest growing economy in Latin America in the five-year period of 2010–14.

Panama is impacted by the global financial crisis. It threatens to damage the social gains made in the past few years.

The expansion project of the Panama Canal and the free trade agreement with the United States is expected to boost and extend the economy.

On April 28, 2022, Panama's lawmakers approved a bill that would legalize bitcoin and other cryptocurrencies. The bill allows using cryptocurrency and trading it, as well as other related topics. It also allowed citizens to use their cryptocurrency to pay taxes.

 

Panama is divided into nine provinces. Also, there are five Comarcas (literally: "Shires") populated by a variety of indigenous groups.

Provinces

• Bocas del Toro
• Chiriquí
• Coclé
• Colón
• Darién
• Herrera
• Los Santos
• Panamá
• Panamá Oeste
• Veraguas

Comarcas

• Emberá
• Kuna Yala
• Ngöbe-Buglé Comarca
• Kuna de Madugandí
• Kuna de Wargandí