Overview of Panama

Quick Overview

Stretching nearly 1,000 km in length, Panama, with its namesake isthmus, represents the narrowest point between the Atlantic and Pacific Oceans. The Panama Canal, spanning 80 km, divides the country in two and is home to over half the population. The central part of the country, particularly in the west, is dominated by a volcanic mountain range reaching altitudes over 3,000 m. Along the coasts lie narrow plains and hundreds of small islands and islets. Like its neighbor Costa Rica, national parks and nature reserves cover a significant portion of the territory, especially in the east, where the Darién forms an impassable barrier by land between Panama and Colombia.

While the country derives some wealth from bananas and coffee, its economy is primarily driven by the canal, growing tourism, the "flag of convenience" (Panama has the world's largest merchant fleet), and its status as a tax haven.

Key Facts

• Type of place: country.

• Location: The southernmost country in Central America, between Colombia and Costa Rica.

• Latitude/longitude: 9.00' N, 80.00' W.

• Local time: Heure : 3096

• Capital: Panama City.

• Nature of the state: Constitutional democracy.

• Official language: Spanish.

• Currency: Balboa and US dollar.

• Population: 3,800,644 inhabitants (2018).

• Area: 75,420 km².

• Density: 50 inhabitants/km².

• Highest point: Volcán Barú (3,475 m).

• Lowest point: Sea level.

• Coastline: 2,490 km.

• Driving: On the right.

Tourism

Officially, Panama now welcomes over 1.5 million visitors per year (1.779 million in 2018), primarily from the United States, Colombia, Canada, and a few thousand from France (26,200 in 2014).

Nature near the Costa Rican border, the Bocas del Toro and San Blas islands, some beautiful colonial remnants like those in the capital, the Canal, along with policies favorable to investment or retirement in the country, are all strong points attracting an increasing number of tourists.

Travel Essentials

• Destination: For beginner travelers.

• By air: France-Panama City round trip for 550/900 €.

• Entry requirements: Passport.

• Currency to bring: US dollars.

• Exchange rate:

• Daily budget (budget travel): 25 to 40 € per person.

• Accommodation: Mid-range hotels.

• Getting around: Buses, or occasionally car rental.

• Risks: Low health risks and low to (very locally) moderate security risks.

• Best time (climate/crowds/prices): January to April.

• Interests (out of ★★★★): Nature ★★★★; Adventure ★★★; Culture ★★; Relaxation/Holidays ★★.

Addresses in France

• Tourist Office: No representation, available online only.

• Latin America House: 217 bd Saint-Germain, 75007 Paris. Tel.: +33 1 49 54 75 00.

Addresses in Belgium, Switzerland, and Quebec

Socio-Economic Statistics

• Quality of life: 66/188 (2018 ranking)

• GDP per capita: $25,400 (2018)

• Average monthly income: $820 (2012)

• Inflation: +0.9% (2017)

• Official unemployment rate: 6% (2017)

• Population below poverty line: 23% (2015)

• Life expectancy: 78.9 years (2018)

• Migration rate per 1,000 inhabitants: -0.2 (2017)

• Population growth: +1.24% (2018)

• Literacy rate: 95% (2016)

• Urban population: 67.7% (2018)

• Press freedom: 91/180 (2018 ranking)

• Political regime: Flawed democracy (45/167 in 2018)

Sources: World Bank, Human Development Indicators, RSF, The Economist, The World Factbook