Click here to read Rabobank's economic vision for this country. The information and publications in this tab are prepared and made available by third parties and are only available in English. No rights can be derived. Rabobank is not responsible or liable for the information and publications. Click here for the full disclaimer.


Capital: Panama City


Total Population: 4,034,119
Natural Increase: 1.6%
Density: 54 Inhabitants/km²
Urban Population: 66.9%
Population of main cities: Panama City (430,299); San Miguelito (315,019); Las Cumbres (127,440); La Chorrera (118,521); Tocumen (113,174); Pacora (103,960)
Ethnic Origins: About 70% of mestizo descent (mixed European and indigenous origins), 10% African/mulatto, 6% of European origin, 12% of indigenous descent and 2% Asian.
Official Language: Spanish
Other Languages Spoken: A lot of Panamanians speak English fluently. Several indigenous dialects are also spoken.
Business Language(s): Spanish and English, because of the many business and other relationships with the United States.
Religion: Catholics 80%, Protestants 10%, Muslims 5%, Others 5%.
Literacy Rate: 91.9%
National Currency: Panamean Balboa (PAB)
Exchange rate (average of the last 30 days):
1 PAB = 0.8565 EUR

Country Overview

Area: 75,420 km²
Type of State: Republic based on a parliamentary democracy.
Type of Economy: Upper-middle-income economy.
The economy is based on port activities; tourism; agricultural exports and Canal fees.
HDI*: 0.780/1
HDI (World Rank): 60/188

Note: (*) The HDI, Human Development Index, is an Indicator Which Synthesizes Several Data Such as Life Expectancy, Level of Education, Professional Careers, Access to Culture etc.


Telephone Code:
To call from Panama, dial 00
To call Panama, dial +507
Internet Suffix: .pa
Telephone Lines: 17.7 per 100 Inhabitants
Internet Users: 45.2 per 100 Inhabitants
Access to Electricity: 90.88% of the Population

Foreign Trade in Figures

Foreign Trade Indicators 20122013201420152016
Imports of Goods (million USD) 22,82121,79521,20018,77018,710
Exports of Goods (million USD) 16,21514,75513,18411,30010,060
Imports of Services (million USD) 4,2144,8684,5464,3574,446
Exports of Services (million USD) 9,24310,03510,72111,17612,329

Source: WTO – World Trade Organisation, 2017


© Export Entreprises SA, All Rights Reserved.
Last Updates: May 2018