Area: 75, 517 sq. km. (30,193 sq. mi.); slightly smaller than South Carolina
Population: 3,228,186 (2005)
Government: Democratic Constitutional Republic
Capital City: Panama
Language: Spanish (official), however many Panamanians are bilingual (Spanish/English). Indigenous tribes, such as the Kuna, Ngobe Buglé, Emberá, Wounan, speak mainly Spanish and their native tongues.
Climate: Tropical; hot and humid, with average temperature 27° C throughout the year but less humid during the dry season. Panama features a prolonged rainy season (May to November) referred to as “winter” and a short dry season (December to April) referred to as "summer" by most Panamanians.
Real Gross Domestic Product (2005): US$13.9 billion (in 1996 constant prices)
Real Per Capita GDP (2005): US$4,318 (in 1996 constant prices)
Currency: Balboa. The U.S. dollar circulates freely as legal tender in the economy.
World commerce has passed through Panama for the last 500 years since the Spanish colonization of the Isthmus. Panama is commonly referred to as the crossroads of trade and the path between the seas. Following the construction of the Panama Canal, it became an important international waterway.
Panama won its independence from Spain in 1821 and immediately joined "Gran Colombia". In 1903, it separated from Colombia and, at the birth of the New Republic, signed the Hay/Bunau-Varilla Treaty with the United States, granting the U.S. the right to build a trans-isthmian canal and to defend it in perpetuity. The Torrijos-Carter Treaty provided for the reversion of all the Canal-related lands and U.S. military bases to Panama by December 31, 1999. Panamanians are now entirely responsible for the operation and administration of the Panama Canal.
The name, Panama, means “abundant fish and butterflies” in the native language of the Indians who inhabited the Isthmus when the "Conquistadores" arrived. Panama’s biodiversity is unique. It has nine-hundred and fifty species of the existing two-thousand varieties of birds in the world. Panama has coastal clear waters that extend 220 km, as well as forests, mountains and landscapes.
The language, culture and customs of the Panamanians are mainly Caribbean-Spanish. Because it has been a historical road for trade and commerce, Panama has many ethnicities. The majority of the population consists of “mestizos” (a combined Spanish and Indian heritage). There is also a considerable population of Chinese and African descendants, as a result of the Chinese immigration to Panama to help build the Panama Railroad at the beginning of the 20th Century, and the immigration of West Indies laborers for the construction of the Panama Canal. In 2005, Panama’s population totaled 3.2 million, experiencing a 2% annual growth rate. The majority of Panamanians are Roman Catholic. Other religions represented include Christian Protestants, Muslims, Buddhist, Jews, and Hindus.
Panama’s economy is primarily service-based, estimated at 80% of the economy. The main economic activities are banking, commerce and tourism. The Colon Free Zone, the Panama Canal, the ports and the more than 100 different banks operating in the country are important to the vibrant service sector. The current government made the development of the tourism sector one of the priorities of its administration. To this end, it is promoting the sustained use of the country’s diverse natural and tourism resources.
List of Panamanian holidays in 2006:
January 1, New Year’s Day
January 9, Martyr’s Day
February 28, Carnival Tuesday
April 14, Good Friday
May 1, Labor Day
November 3, Separation Day (from Colombia)
November 5, Colon Day
November 10, Uprising in Villa de Los Santos against Spain