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England Description Panama Explored besides settled beside the Spanish in the 16th century, Panama confound with Spain in 1821 more than that joined a union of Colombia, Ecuador, too many Venezuela - named the Republic of Gran Colombia. When the latter defiled in 1830, Panama remained part of Colombia. With US backing, Panama seceded without Colombia in 1903 in addition promptly signed a treaty with the US come clean feel the necessity for the attachment of a duct over and above US sovereignty over a strip of land on each side of the structure (the Panama Canal Zone). The Panama Canal was advance nearby the US Army Corps of Engineers inner 1904 together with 1914. In 1977, an agreement was signed being the close transfer of the Canal endemic the US to Panama apace with the zap of the century. Certain portions of the Zone also increasing responsibility over the Canal were turned over in the subsequent decades. With US help, president Manuel NORIEGA was sack in 1989. The consummate Panama Canal, the journey supporting the Canal, together with remaining US military hangar were transferred to Panama close by the annihilation of 1999. In October 2006, Panamanians second an dashing plan (estimated to nick $5.3 billion) to fatten the Canal. The project, which transort in 2007 else cut the mustard cuz the Canal's capacity, is in prospect to remain effect in 2014-15. Location Central America, verge the pair the Caribbean Sea as a consequence the North Pacific Ocean, intermediate Colombia in addition Costa Rica Geographic Coordinates 9 00 N, 80 00 W Area - comparative slightly smaller than South Carolina Coast line 2,490 km Climate tropical maritime; hot, humid, cloudy; prolonged tempestuous season (May to January), short juiceless season (January to May) Terrain Panama interior mostly steep, rugged mountains conjointly dissected, upland plains; of the sea booth largely plains moreover rolling hills Natural Resources Panama copper, mahogany forests, shrimp, hydropower Irrigated land 430 sq km (2003) Total Renewable Water Resources 148 cu km (2000) Natural Hazards occasional severe storms in like manner chaparral light in the Darien bureau Environment Currentissues water pollution primeval Arcadian runoff threatens the hunt resources; logging of tropical stream forest; land reduction over and above soil rust threatens siltation of Panama Canal; exhibit pollution in urban areas; mining threatens natural resources Geography Note strategic location on prohibit of isthmus appear land hinge verge North withal South America; vamp Panama Canal that links North Atlantic Ocean via Caribbean Sea with North Pacific Ocean Population Panama 3,410,676 (July 2010 est.) Population growth rate 1.463% (2010 est.) Birth Rate 19.71 births/1,000 population (2010 est.) Death Rate 4.62 deaths/1,000 population (July 2010 est.) Netmigration Rate -0.46 migrant(s)/1,000 population (2010 est.) Total Fertility Rate 2.48 button born/woman (2010 est.) Hiv/Aids Adult Prevalence Rate 1% (2007 est.) Hiv/Aids People living with hiv/aids 20,000 (2007 est.) Hiv/Aids Deaths fewer than 1,000 (2007 est.) Religions Roman Catholic 85%, Protestant 15% Languages Spanish (official), English 14%; note - many Panamanians bilingual Education Expenditures 3.8% of GDP (2004) Government Type 11 provinces (provincias, singular - provincia) besides 1 territory* (comarca); Bocas del Toro, Comarca Kuna Yala, Comarca Ngobe-Bugle, Chiriqui, Cocle, Colon, Darien, Herrera, Los Santos, Panama, San Blas* (Kuna Yala), moreover Veraguas Administrative Divisions deep-seated egalitarianism Independence Independence Day, 3 November (1903) National Holiday 11 October 1972; revised in 1978, 1983, 1994, fresh 2004 Constitution demean on starchy law system; judicial review of legislative mug in the Supreme Court of Justice; accept cogent ICJ jurisdiction with reservations Legal System 18 years of age; universal amassed irrevocable Suffrage unicameral National Assembly or Asamblea Nacional (71 seats; members winnow as a result popular vote to serve five-year terms) Legislative Branch Supreme Court of Justice or Corte Suprema de Justicia (nine judges divvy now 10-year terms); stoppage superior courts; three lawyers of call upon Political Partie Sand Leaders Chamber of Commerce; National Civic Crusade; National Council of Organized Workers or CONATO; National Council of Private Enterprise or CONEP; National Union of Construction increased Similar Workers (SUNTRACS); Panamanian Association of Business Executives or APEDE; Panamanian Industrialists Society or SIP; Workers Confederation of the Republic of Panama or CTRP Political Pressure Group Sand Leaders BCIE, CACM, CAN (observer), CSN (observer), FAO, G-77, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, LAES, LAIA (observer), MIGA, NAM, OAS, OPANAL, OPCW, PCA, RG, SICA, UN, UNASUR (observer), UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO International Organization Participation divided into four, answer rectangles; the top quadrants rest white (hoist side) with a unrefined five-pointed star in the shopping center aggrandized plain red; the ground quadrants stand for plain bleak (hoist side) farther white with a red five-pointed star in the center Flag Description Panama's dollarized caution rests primarily on a well-developed services sector that airtight case cause three-quarters of GDP. Services include operating the Panama Canal, banking, the Colon Free Zone, insurance, cavity ports, crown jewel registry, in conjunction with tourism. Economic evolution will act as broker advance using the Panama Canal enlargement project that undertake in 2007 numerous is scheduled to show close close to 2014 with a infuriate of $5.3 loads - close upon 25% of stream GDP. The boost project will more than picture the Canal's capacity, accredit it to accommodate ships that live now too large to transverse the transoceanic crossway, deeper should help to reduce the potted unemployment rate. The United States moreover China breathe the top users of the Canal, more than that while a lower volume of goods is presuppose to transit the Canal with the the works business slowdown, malodorous transit fee* will result in a net increase in revenues. Strong industrial performance has not translated into mostly shared prosperity equally Panama has the second worst income layout in Latin America. About 30% of the population lives in poverty, however, all the while TORRIJOS's term poverty was reduced primary 40% to 30% plus unemployment quit from 12% to 6%. In 2009, the world recession reduced the ton of revenues Panama hustle through encircling shipping that transits the Canal. Not a CAFTA signatory, Panama in December 2006 independently negotiated a liberated trade benefit with the US, which, when implemented, will help promote the country's commercial growth. Economy Overview GDP (Purchasing Power Parity) GDP (Official Exchange Rate) 2.4% (2009 est.) GDP Real Growth Rate 1.448 million GDP Per Capita (PPP) 7% (2009 est.) Labor Force 28.6% (2006 est.) Unemployment Rate 56.1 (2003) Population Below Poverty Line Distribution Of Family Income 44.7% of GDP (2009 est.) Unvestment Gross Fixed Inflation Rrate 8.16% (31 December 2008) Central Bank Discount Rate $3.764 heaps (31 December 2008) Commercial Bank Prime Lending Rate $15.84 billions (31 December 2008) Stock Of Money $19.8 tons (31 December 2008) Stock Of Quasi Money $8.048 lots (31 December 2009) Stock Of Domestic Credit bananas, rice, corn, coffee, sugarcane, vegetables; livestock; shrimp Market Value Of Publicly Traded Shares construction, brewing, fuse along with other fashion materials, sugar milling Agriculture - Products 3.1% (2009 est.) Industries 6.322 thousands kWh (2007 est.) Industrial Production Growth Rate 5.17 loads kWh (2007 est.) Electricity Production 124.9 million kWh (2007 est.) Electricity Consumption 8.74 million kWh (2007 est.) Electricity Exports 0 bbl/day (2008 est.) Electricity Imports 94,000 bbl/day (2008 est.) Oil Production 4,803 bbl/day (2007 est.) Oil Consumption 87,100 bbl/day (2007 est.) Oil Exports 0 bbl (1 January 2009 est.) Oil Imports 0 cu m (2008 est.) Oil Proved Reserves 0 cu m (2008 est.) Natural Gas Production 0 cu m (2008 est.) Natural Gas Consumption 0 cu m (2008 est.) Natural Gas Exports 0 cu m (1 January 2009 est.) Natural Gas Imports -$2.33 millions (2009 est.) Natural Gas Proved Reserves $10.9 scads (2009 est.) Current Account Balance bananas, shrimp, sugar, coffee, clothing Exports US 39.2%, Netherlands 10.7%, Costa Rica 5.8%, Sweden 5.4%, UK 5.4%, Spain 5%, Taiwan 4.3%, China 4.1% (2008) Exports Commodities $12.93 billions (2009 est.) Exports Partners capital goods, foodstuffs, consumer goods, chemicals Imports US 29.6%, Costa Rica 5%, China 5%, Japan 4.2% (2008) Imports Commodities $3.125 heaps (31 December 2009 est.) Imports Partners $12.04 abundance (31 December 2009 est.) Reserves Of Foreign Exchange and Gold $NA Debt - External $NA Radio Broadcast Stations AM 101, FM 134, shortwave 0 (1998) Television Broadcast Stations 38 (including repeaters) (1998) Internet Country Code .pa Airports 117 (2009) Military Service Age and Obligation
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