Panama Country Overview

PANAMA

Capital

Panama City

Population

4,5 million (2024)

Area

75.420 km2

President

Jose Raul Mulino

Prime Minister

-

Foreign Minister

Javier Martinez Acha Vasquez

Spoken Languages

Spanish (official language), local languages, English, Chinese, Arabic

Currency

Balboa (PAB)/USD
1 USD = 1 PAB (Fixed rate)
Balboas are only used as coins.

GDP

90,4 billion Dollars (2025)

Ethnic Structure

65% mulatto, 12.3% Native American (Ngabe 7.6%, Kuna 2.4%, Embera 9%, Bugle 8%, others 4%), 9.2% African descent, 6.8% mulatto, 6.7% white (2010)

Important Political Parties

Realizing Goals (RM), Democratic Change (CD), Democratic Revolutionary Party (PRD), Panamenista Party (PAN), National Republican Liberal Movement (MOLIRENA), Another Way Movement (MOCA), Alliance Party (ALIANZA), People's Party (PP). In the 2024 general elections, the independent Vamos movement won 20 seats; however, it is not a political party.

Membership of International Organizations

United Nations, International Monetary Fund, World Bank, World Trade Organization, International Atomic Energy Agency (IAEA), International Civil Aviation Organization (ICAO), International Maritime Organization (IMO), International Labour Organization (ILO), UN Educational, Scientific and Cultural Organization (UNESCO), World Health Organization (WHO), Food and Agriculture Organization (FAO), International Telecommunication Union (ITU), International Hydrographic Organization (IHO), International Olympic Committee (IOC), International Federation of Red Cross and Red Crescent Societies, G-77

Organization of American States (OAS), Central American Integration System (SICA), Community of Latin American and Caribbean States (CELAC), Pacific Alliance (Observer), Caribbean Union (CARICOM, Observer), Central American Economic Integration System (SIECA), Central American Bank for Economic Integration (BCIE), Latin American Economic System (LAES), Latin American Integration Association (LAIA), Associate Member of the Southern Common Market (MERCOSUR)

Central American Parliament (PARLACEN), Latin American and the Caribbean Parliament (PARLATINO-headquartered in Panama)