Panama

The Republic of Panama, situated at the southern-most region of Central America, is considered as the transcontinental country connecting the north and south part of America. Panama shares its land boundary with Costa Rica to the north-west, Colombia to the south-east and coastline with the Caribbean Sea to the north and the Pacific Ocean to the south. Panama has the 3rd largest economy among Central American nations as well as it is the largest consumer in Central America. Panama City is the capital of Panama.

HISTORY:- Christopher Columbus and Vasco Nunez de Balboa explored the nation in 1502 and 1513 respectively. Panama had transformed into the lucrative market site for the Spanish Empire. After 300 years of Spanish rule from 1538 to 1821, Panama joined Colombia. When the United States’ proposal to build the transisthmian canal over the narrow isthmus was rejected by Colombia, Panama declared its independence in 1903 with the U.S help. In 1914, the canal was built by the U.S. In 1955, in return of the financial aid, the U.S gained the Canal Zone. In 1977, the Canal Zone was returned to Panama under the Torrijos-Carter Treaties. Following the military dictators’ era, in 1989, the U.S invaded and seized Panama. Guillermo Endara became the President of Panama. In 1999, the U.S gave away the power of Panama to Panama.

GEOGRAPHY:- Panama is located at 9 00 N, 80 00 W in Central America. The total area of the country’s possession is 78,200 sq km, in which 75,990 sq km is covered by land and remaining 2,210 sq km is covered by waters. The coastline is 2,490 km long along with the Caribbean Sea and the North Pacific Ocean. The lowest point is Pacific Ocean (0 m) and the highest point is Volcan Baru (3,475 m). The interiors of the country is mostly formed of steep, rugged mountains, and dissected upland plains, while the coastal areas are formed of mostly plains and rolling hills.

CLIMATE:- The climate of Panama is tropical maritime, hot, humid, and cloudy. There is a prolonged rainy season with an average rainfall of 28 mm in a day in winters and a short dry season.

GOVERNMENT:- Panama has a constitutional democracy. The constitution was adopted on 11th October 1972, with some major amendments made in 1978, 1983, 1994, and 2004. The legal system is based on the civil law system and the judicial review of legislative acts in the Supreme Court. The three major branches of the government are:

Executive branch comprises the President (chief of state and head of government), the First Vice President, Second Vice President, and the cabinet. The president and the vice presidents are elected on the same ticket by popular vote on 5-year terms. The cabinet is appointed by the president.

Legislative branch comprises the unicameral National Assembly (78 seats).

Judicial branch comprises the Supreme Court of Justice, five superior courts, and three courts of appeal.

The Panamenista Party (formerly the Arnulfista Party (PA), Democratic Change (CD), National Liberal Republican Movement (MOLIRENA), the Democratic Revolutionary Party (PRD), and Patriotic Union (UP) are the major political parties of Panama. Suffrage is universal and compulsory at and over 18.

President                          Martin Torrijos

First Vice President           Samuel Lewis

Second Vice President      Rubén Arosemena

ADMINISTRATIVE DIVISIONS:- Panama is divided into 11 provinces and 1 territory (San Blas).

CULTURE:- Caribbean Spanish culture is predominant in the culture of Panama. Panama has a rich tradition of folklore. Salsa music is popular worldwide. Panamanian handicrafts like Kuna textile molas are very famous.

ECONOMY:- Panama has a strong services sector including operating the Panama Canal, banking, the Colon Free Zone, insurance, container ports, flagship registry, and tourism, which provides more than 66% of the total GDP. Panama went through a negotiation of a free trade agreement with the US in 2006.

GDP/PPP (2007 est.): $34.51 billion; per capita $10,300.

Real growth rate: 11.2%.

Inflation: 4.2%.

Unemployment: 6.4%.

Arable land: 7.26%.

Agriculture: Bananas, rice, corn, coffee, sugarcane, vegetables; livestock; shrimp.

Labor force: 1.47 million; note: shortage of skilled labor, but an oversupply of unskilled labor (2007 est.); agriculture 15%, industry 18%, services 67% (2006 est.).

Industries: Construction, brewing, cement and other construction materials, sugar milling.

Natural resources: Copper, mahogany forests, shrimp, hydropower.

Budget:  

Revenues: $5.505 billion

Expenditures: $4.822 billion (2007 est.)

Public debt: 52.8% of GDP (2007 est.)

Debt - external: $10.45 billion (31 December 2007 est.)

Exports: $9.662 billion f.o.b.; note - includes the Colon Free Zone (2007 est.): bananas, shrimp, sugar, coffee, clothing.

Imports: $12.1 billion f.o.b. (includes the Colon Free Zone) (2007 est.): capital goods, foodstuffs, consumer goods, chemicals.

Major trading partners: U.S., Sweden, Spain, Netherlands, Costa Rica, Netherlands Antilles, Japan, Mexico, Colombia (2004).

Monetary units: balboa and U.S. dollar.

LANGUAGE:- Spanish is the official language of Panama. English is spoken by 14% of the population.

CITIES:- Panama City is the capital city and the largest city of Panama. Other major cities are Colon, David.

POPULATION:- The population of Panama is estimated 3,242,173 with a growth rate of 1.6%.

Density per sq mi: 111

Literacy rate: 93% (2003 est.).

RACE:-

Mestizo (mixed Amerindian and white) 70%

Amerindian and mixed (West Indian) 14%

White 10%

Amerindian 6%

RELIGION:-

Roman Catholic 85%

Protestant 15%

HEALTH:-

Birth rate: 21.15 births/1,000 population (2008 est.)

Death rate: 5.52 deaths/1,000 population (2008 est.)

Infant mortality rate: total: 15.62 deaths/1,000 live births

Life expectancy at birth: total population: 75.17 years

Total fertility rate: 2.65 children born/woman (2008 est.)

HIV/AIDS - deaths: less than 500 (2003 est.)

Total expenditure on health per capita (Intl $, 2005): 660

UNICEF:- Literary rate reached at 96% amongst 15-24 age groups. Though universal primary school education has been completed, quality of education is not upgraded. UNICEF partners with UN to reduce poverty. Civil society and non-profit organizations have promoted the rights of children and women in Panama. With the help of UNICEF, iodine deficiency disorders are very much in control in Panama.

TRANSPORTATION:-

Railways: total: 355 km (2002).

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

Waterways: 882 km navigable by shallow draft vessels; 82 km Panama Canal.

Ports and harbors: Balboa, Cristobal, Coco Solo, Manzanillo (part of Colon), Vacamonte.

Airports: 116 (2007).