The Republic of Panama (capital Panama City) between neighboring states
Country Comparisons: chart
World Factbook: "Panama's dollar-based economy rests primarily on a well-developed services sector that accounts for three-quarters of GDP. Services include operating the Panama Canal, logistics, banking, the Colon Free Zone, insurance, container ports, flagship registry, and tourism. Economic growth will be bolstered by the Panama Canal expansion project that began in 2007 and is scheduled to be completed by 2014 at a cost of $5.3 billion - about 10% of current GDP. The expansion project will more than double the Canal's capacity, enabling it to accommodate ships that are too large to traverse the existing canal. The United States and China are the top users of the Canal. Panama also plans to construct a metro system in Panama City, valued at $1.2 billion and scheduled to be completed by 2014."
Economic growth rate:
2011: 41.7% of GDP
2010: 43.5% of GDP
Gold, bananas, shrimp, sugar, iron and steel waste, pineapples, watermelons
Income Distribution – gini index
Ranks 18th among 140 countries (higher rank number is more equal, lower rank number is less equal). Less equal than Britain, which ranks 94th, and the US, which ranks 45th.
2009: 8.3% of GDP
Military expenditures as a percentage of GDP
Living in an urban area
2011: Estimnated rate of urbanizing at a rate: 2.3% per year
Net migration rate
2012: A net loss of 0.38 persons per 1,000
mestizo (mixed Amerindian and white) 70%, Amerindian and mixed (West Indian) 14%, white 10%, Amerindia 6%
Roman Catholic 85%, Protestant 15%
Central America. Southeast of Costa Rica and northwest of Colombia. 78,200 square kilometers, equivalent to 279.6 by 279.6 kilometers or roughly 175 by 175 miles.
Chief of state and head of government: Ricardo Martinelli (president) since July 1, 2009. Roman Catholic, Democratic Change (founded in May 1998).
Constitutional democracy. The president is chief of state and head of government. The president and vice president are elected on the same ticket by popular vote for five-year terms and must sit out two additional terms (10 years) before becoming eligible for reelection. Members of the National Assembly are elected by popular vote to five year terms.
Capital: Panama City
Independence from Colombia on November 3, 1903.
1977: Rule over the Panama Canal is transferred from the United States to Panama.
Copyright © 2009-2011 by Frank E. Smitha. All rights reserved.