Panamá Information

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Panama Background Information

Explored and settled by the Spanish in the 16th century, Panama broke with Spain in 1821 and joined a union of Colombia, Venezuela, and Ecuador - named the Republic of Gran Colombia. When the latter dissolved in 1830, Panama remained part of Colombia. With US backing, Panama seceded from Colombia in 1903 and promptly signed a treaty with the US allowing for the construction of a canal and US sovereignty over a strip of land on either side of the structure (the Panama Canal Zone). The Panama Canal was built by the US Army Corps of Engineers between 1904 and 1914. In 1977, an agreement was signed for the complete transfer of the Canal from the US to Panama by the end of the century. Certain portions of the Zone and increasing responsibility over the Canal were turned over in the subsequent decades. With US help, dictator Manuel NORIEGA was deposed in 1989. The entire Panama Canal, the area supporting the Canal, and remaining US military bases were transferred to Panama by the end of 1999. In October 2006, Panamanians approved an ambitious plan to expand the Canal. The project, which is to begin in 2007 and could double the Canal's capacity, is expected to be completed in 2014-15.

[from the CIA World Fact Book ]

Quick Facts

Full country name:

Republic of Panama

Area:

78,000 sq km (30,420 sq mi)

Population:

3,242,173 (July 2007 est.)

Capital city:

Panama City (pop 700,000)

People:

70% mestizo (mixed Amerindian and white), 14% Amerindian and mixed (West Indian), 10% white, 6% Amerindian

Language:

Spanish (official), English 14%; note - many Panamanians bilingual

Religion:

85% Roman Catholic, 15% Protestant

Government:

Constitutional Democracy

Chief of State:

President Martin Torrijos Espino (since 1 September 2004)

GDP:

$25.29 billion (2006 est.)

GDP per capita:

US $7,900 (2006 est.)

Annual growth:

6.3%

Inflation:

2.6%

Agriculture - products:

bananas, rice, corn, coffee, sugarcane, vegetables; livestock; shrimp

Major industries:

construction, brewing, cement and other construction materials, sugar milling

[from the CIA World Fact Book ]