Panama is in the center of the American continent. It is bordered to the north by the Caribbean Sea, to the south by the Pacific Ocean, to the east with Colombia and to the west with Costa Rica. It has an area of 75,517 square kilometers.
- Administrative Division:
The current political-administrative division comprises of 10 provinces and 6 indigenous regions. Panama City, capital of the country, is the largest and most populated city, with 1,551,766 inhabitants in its metropolitan area, according to the data from the National Institute of Statistics and Census of Panama.
TOTAL GDP: US$ 66.8 billion (nominal 2019).
Growth rate % GDP 2.7% (nominal 2019 vs. 2018)
GDP per Cápita US$ 16,245 (2019).
GDP by sector:
- Agriculture: 2.14%
- Industry: 15.7%
- Services: 82%
Since 1904, the US Dollar has cculated alongside the Panamanian currency, the Balboa, which has parity with the Unated States currency.
Panama has a tropical climate throughout the year in the lowlands and mild weather in the highlands. At sea level the annual average temperature is 27°C/80.6 ° F. There are 2 seasons: dry (December-April) and rainy (May-November).
The official language is Spanish. English is spoken frequently.
4.2 MILLION (2020)
Presidential Democratic Republic.