Panama is a country in Central America, between the Caribbean and Costa Rica, on the Caribbean Sea and the North Pacific coast. The area is; 77.082 km2. Its capital city is Panama City with the same name.
Cities of Panama
Panama’s Area Code: +507
Panama Currency: US Dollar, Panama Balboa
Bocas del, Boquete, Coco Solo, Colón, David, Gamboa, Panama City, Portobelo
Economy of Panama
30% of the population working in Panama deals with agriculture. Only 7% of the land is suitable for grain production. In addition, close to 16% of the country is meadow and pasture land. Close to 30% of the other working population also works in the field of industry and trade. Arable land is only 5%. The main products grown are; bananas, sugarcane, coffee, oranges, tomatoes, cabbage, cocoa, corn and cocaine. Mostly cattle breeding are done. Fish production is increasing every year. Most shrimp are fished.
Panama is an international banking center. The Panama Canal is on the shortest way to meet oil ships in a short time. Therefore, the country receives large revenues from the canal and oil refineries. The contribution of the manufacturing industry to domestic production is around 50%. The largest manufacturing industry is oil refining. There are also food, beverage and tobacco industries.
In Panama, various seafood, sugar, bananas such as shrimp and tuna are the most important export products. Also milk, fruit, coffee, soft drinks, meat, poultry, tomatoes and cigarettes are also sold.
Crude oil is the most important material in Panama. Furthermore, machinery, automobiles, various foodstuffs and other important import products are medicines.
Panama is a country that has a huge income from tourism. The strategic geographical location and the Panama Canal have a major role in this. Covering the two long sides with two large oceans and the coast being suitable for sea sports and being Panama City as an international settlement center are the most important reasons for increasing the influx of tourists.
Panama has one of the largest maritime trade fleets in the world.
Products Exported by Panama
Passenger and Cargo Ships, Sulfonamides, Oxygen Amino Compounds, Packaged Medicines and Refined Oil.
Products Imported by Panama
Passenger and Cargo Ships, Refined Petroleum, Crude Oil, Packaged Medicines and Sulfonamide.
Countries Exported by Panama
United States, Venezuela, Ecuador, Guetamala and Japan.
Countries Imported by Panama
Japan, China, the United States, Colombia and Singapore
Nations Living in Panama
70% of the Panama population is Mestizo, 5% is Indian, 15% is western American and 10% is from Asian Caucasians. There is also some white.
Languages spoken in Panama
Official language; Spanish. While some of the Indians use their native language, the other part speaks English.