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NAVIGATION
Republic of Panama
Republica de Panama
GOVERNMENT
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Country name:
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conventional long form: Republic of Panama
conventional short form: Panama local short form: Panama local long form: Republica de Panama |
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Government type:
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constitutional democracy |
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Capital:
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Panama |
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Administrative divisions:
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9 provinces (provincias, singular - provincia) and 1 territory* (comarca); Bocas del Toro, Chiriqui, Cocle, Colon, Darien, Herrera, Los Santos, Panama, San Blas*, and Veraguas |
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Independence:
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3 November 1903 (from Colombia; became independent from Spain 28 November 1821) |
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National holiday:
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Independence Day, 3 November (1903) |
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Constitution:
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11 October 1972; major reforms adopted 1978, 1983 and 1994 |
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Legal system:
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based on civil law system; judicial review of legislative acts in the Supreme Court of Justice; accepts compulsory ICJ jurisdiction, with reservations |
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Suffrage:
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18 years of age; universal and compulsory |
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Executive branch:
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chief of state: President Mireya Elisa MOSCOSO Rodriguez (since 1 September 1999); First Vice President Arturo Ulises VALLARINO (since 1 September 1999); Second Vice President Dominador "Kaiser" Baldonero BAZAN Jimenez (since 1 September 1999); note - the president is both the chief of state and head of government
head of government: President Mireya Elisa MOSCOSO Rodriguez (since 1 September 1999); First Vice President Arturo Ulises VALLARINO (since 1 September 1999); Second Vice President Dominador "Kaiser" Baldonero BAZAN Jimenez (since 1 September 1999); note - the president is both the chief of state and head of government cabinet: Cabinet appointed by the president elections: president and vice presidents elected on the same ticket by popular vote for five-year terms; election last held 2 May 1999 (next to be held NA May 2004) note: government coalition - PA, MOLIRENA, Democratic Change, MORENA, PLN, PS election results: Mireya Elisa MOSCOSO Rodriguez elected president; percent of vote - Mireya Elisa MOSCOSO Rodriguez (PA) 44%, Martin TORRIJOS (PRD) 37% |
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Legislative branch:
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unicameral Legislative Assembly or Asamblea Legislativa (71 seats; members are elected by popular vote to serve five-year terms)
election results: percent of vote by party - NA%; seats by party - PRD 34, PA 18, PDC 5, PS 4, MOLIRENA 3, PLN 3, Democratic Change 2, PRC 1, MORENA 1 note: legislators from outlying rural districts are chosen on a plurality basis while districts located in more populous towns and cities elect multiple legislators by means of a proportion-based formula elections: last held 2 May 1999 (next to be held NA May 2004) |
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Judicial branch:
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Supreme Court of Justice or Corte Suprema de Justicia (nine judges appointed for 10-year terms); five superior courts; three courts of appeal |
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Political parties and leaders:
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Arnulfista Party or PA [Mireya Elisa MOSCOSO Rodriguez]; Civic Renewal Party or PRC [Serguei DE LA ROSA]; Democratic Change [Ricardo MARTINELLI]; Democratic Revolutionary Party or PRD [Martin TORRIJOS]; National Liberal Party or PLN [Raul ARANGO Gasteazopo]; National Renovation Movement or MORENA [Pedro VALLARINO Cox]; Nationalist Republican Liberal Movement or MOLIRENA [Ramon MORALES]; Popular Party or PP (formerly Christian Democratic Party or PDC) [Ruben AROSEMENA]; Solidarity Party or PS [Samuel LEWIS Galindo] |
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Political pressure groups and leaders:
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Chamber of Commerce; National Civic Crusade; National Council of Organized Workers or CONATO; National Union of Construction and Similar Workers (SUNTRACS); National Council of Private Enterprise or CONEP; Panamanian Association of Business Executives or APEDE; Panamanian Industrialists Society or SIP; Workers Confederation of the Republic of Panama or CTRP |
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International organization participation:
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CCC, ECLAC, FAO, G-77, IADB, IAEA, IBRD, ICAO, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, ISO (correspondent), ITU, LAES, LAIA (observer), NAM, OAS, OPANAL, OPCW, PCA, RG, UN, UNCTAD, UNESCO, UNIDO, UPU, WCL, WFTU, WHO, WIPO, WMO, WToO, WTrO |
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Diplomatic representation in the US:
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chief of mission: Ambassador Roberto ALFARO
FAX: [1] (202) 483-8416 consulate(s) general: Atlanta, Houston, Miami, New Orleans, New York, Philadelphia, San Francisco, Tampa telephone: [1] (202) 483-1407 chancery: 2862 McGill Terrace NW, Washington, DC 20008 |
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Diplomatic representation from the US:
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chief of mission: Ambassador Linda Ellen WATT
embassy: Avenida Balboa and Calle 37, Apartado Postal 6959, Panama City 5 mailing address: American Embassy Panama, Unit 0945, APO AA 34002 telephone: [507] 207-7000 FAX: [507] 227-1964 |
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Flag description:
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divided into four, equal rectangles; the top quadrants are white (hoist side) with a blue five-pointed star in the center and plain red; the bottom quadrants are plain blue (hoist side) and white with a red five-pointed star in the center |
ECONOMY
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Economy - overview:
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Panama's economy is based primarily on a well-developed services sector that accounts for three-fourths of GDP. Services include the Panama Canal, banking, the Colon Free Zone, insurance, container ports, flagship registry, and tourism. A slump in Colon Free Zone and agricultural exports, the global slowdown, and the withdrawal of US military forces held back economic growth in 2000-01. The government plans public works programs, tax reforms, and new regional trade agreements in order to stimulate growth. |
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GDP:
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purchasing power parity - $16.9 billion (2001 est.) |
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GDP - real growth rate:
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1.4% (2001 est.) |
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GDP - per capita:
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purchasing power parity - $5,900 (2001 est.) |
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GDP - composition by sector:
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agriculture: 7%
industry: 17% services: 76% (2000 est.) |
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Population below poverty line:
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37% (1999 est.) |
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Household income or consumption by percentage share:
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lowest 10%: 1%
highest 10%: 36% (1997) (1997) |
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Distribution of family income - Gini index:
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49 (1997) |
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Inflation rate (consumer prices):
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1% (2000 est.) |
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Labor force:
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1.1 million
note: shortage of skilled labor, but an oversupply of unskilled labor (2000 est.) |
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Labor force - by occupation:
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agriculture 21%, industry 18%, services 61% (1995 est.) |
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Unemployment rate:
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13% (2000 est.) |
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Budget:
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revenues: $1.9 billion
expenditures: $2 billion, including capital expenditures of $471 million (2000 est.) |
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Industries:
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construction, petroleum refining, brewing, cement and other construction materials, sugar milling |
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Industrial production growth rate:
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2% (2000 est.) |
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Electricity - production:
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4.894 billion kWh (2000) |
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Electricity - production by source:
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fossil fuel: 29%
hydro: 69% other: 1% (2000) nuclear: 0% |
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Electricity - consumption:
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4.651 billion kWh (2000) |
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Electricity - exports:
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20 million kWh (2000) |
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Electricity - imports:
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120 million kWh (2000) |
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Agriculture - products:
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bananas, rice, corn, coffee, sugarcane, vegetables; livestock; shrimp |
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Exports:
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$5.9 billion f.o.b. (2001 est.) |
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Exports - commodities:
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bananas, shrimp, sugar, coffee, clothing |
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Exports - partners:
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US 45.9%, Sweden 8.1%, Benelux 5.3%, Costa Rica 5.1% (2000 est.) |
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Imports:
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$6.7 billion f.o.b. (2001 est.) |
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Imports - commodities:
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capital goods, crude oil, foodstuffs, consumer goods, chemicals |
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Imports - partners:
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US 33.1%, Ecuador 7.2%, Venezuela 6.6%, Japan 5.5% (2000 est.) |
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Debt - external:
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$7.6 billion (2001 est.) |
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Economic aid - recipient:
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$197.1 million (1995) (1995) |
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Currency:
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balboa (PAB); US dollar (USD) |
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Currency code:
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PAB; USD |
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Exchange rates:
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balboas per US dollar - 1.000 (fixed rate) |
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Fiscal year:
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calendar year |