Panama

Historical Timeline

1501 (August 15, Friday): Spanish explorers, led by Rodrigo de Bastidas, reach the coast of Panama


1821 (November 28, Monday): Panama declares independence from Spain and joins the Republic of Gran Colombia


1903 (November 3, Monday): Panama declares independence from Colombia with the support of the United States


1904 (August 15, Sunday): Construction of the Panama Canal begins


1914 (August 15, Friday): Panama Canal opens to international shipping


1947 (October 11, Saturday): Great Flood of 1947 caused by heavy rainfall and hurricanes, devastating areas along the canal


1977 (September 7, Wednesday): Panama Canal Treaty signed, giving Panama control of the canal in 1999


1989 (December 20, Wednesday): U.S. Invasion of Panama (Operation Just Cause) to depose Manuel Noriega


1999 (December 31, Friday): Panama takes control of the Panama Canal from the United States


2008 (November 4, Tuesday): Panama Canal Expansion Project begins to widen and deepen the canal for larger ships


2010 (October 13, Wednesday): 2010 Panama Earthquake (magnitude 5.8) shakes the country, causing some structural damage


2018 (December 1, Saturday): Panama becomes a member of the Pacific Alliance trade bloc


2020 (March 14, Saturday): COVID-19 Pandemic: Panama announces its first confirmed cases of COVID-19 and implements strict lockdown measures


2021 (October 8, Friday): Hurricane Iota: Affected Panama’s coastal regions with heavy rainfall and flooding

General Information

Continent: North America (Central America)
Location: Central America, bordered by Costa Rica to the west, Colombia to the east, and the Caribbean Sea to the north and Pacific Ocean to the south
Capital: Panama City
Language: Spanish (official), English (widely spoken)
Currency: Balboa (PAB), US Dollar (USD)
Population: ~4.5 million (last updated: April 2025)
Time Zone: Eastern Standard Time (EST, UTC-5)

Topography

Borders: Costa Rica (west), Colombia (east)
Landscape: Mountainous terrain with narrow coastal plains, tropical rainforest, and vast rivers
Major Rivers: Chagres River, Tuira River, Santa María River, Bayano River
Major Mountains: Volcán Barú (highest point), Sierra de Tabasará
Deserts: No significant deserts
Lakes: Lake Gatun, Lake Alajuela
Volcanoes: Volcán Barú (extinct)
Highest Point: Volcán Barú (3,474 m / 11,398 ft)
Lowest Point: Pacific Ocean (sea level)
Climate: Tropical, with a wet season from May to November and a dry season from December to April
Geological Features: Panama Canal, mountain ranges, volcanic structures, and tropical rainforests

Demography

Ethnic Groups: Mestizo (mixed European and Indigenous), Afro-Panamanian, Indigenous groups (Ngäbe-Buglé, Kuna, Emberá, and others), European, Asian
Religion: Roman Catholic (approx. 70%), Protestant (approx. 15%), other (approx. 15%)
Urban Population: ~67% (last updated: 2023)
Aging Population: ~6% aged 65+ (last updated: 2024)

Culture

Famous For: Panama Canal, diverse cultural heritage, vibrant music and dance (including salsa and folk), tropical beaches
Cuisine: Sancocho (chicken stew), arroz con pollo (rice with chicken), ceviche, patacones (fried plantains), empanadas
Arts: Traditional music, Panamanian folklore, indigenous crafts, vibrant festivals
Sports: Baseball, soccer, basketball, boxing, and track and field

Economy

Economy Type: Service-based, with a strong reliance on the Panama Canal and international trade
GDP: Approx. $72 billion USD (last updated: 2024)
Major Industries: Shipping, banking, commerce, construction, tourism, agriculture
Key Exports: Petroleum products, bananas, coffee, shrimp, sugar
Unemployment Rate: ~5.5% (last updated: 2024)
Economic Regions: Canal Zone, Panama City as a financial and trade hub, agricultural regions (Chiriquí, Coclé)

Government

Government Type: Presidential republic
Head of State: President Laurentino Cortizo (as of April 2025)
Head of Government: President Laurentino Cortizo (as of April 2025)
Legislature: Unicameral (National Assembly)
Constitution: In effect since 1972, with amendments

Travel Attractions

Panama City: Panama Canal, Casco Viejo (old town), Metropolitan Natural Park
Bocas del Toro: Archipelago famous for its beaches and marine life
San Blas Islands: Picturesque islands with white sand beaches and indigenous Kuna culture
Boquete: Famous for coffee plantations and hiking trails
Gatun Lake: Artificial lake part of the Panama Canal, with wildlife and boat tours
Volcán Barú: Hiking and panoramic views from the highest point in Panama