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Panama

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Geographical location

Economy and finance

Currency
US Dollar (USD)
Average monthly income (USD, gross)
$1280 (2024)
Inflation rate
0.7% (2024)
Unemployment rate
6.5% (2024)
Below the poverty line
21.8% (2021)
Gini coefficient
48.9 (2023)

Tobacco consumption

Total tobacco consumption
4.5%
Smoking men
1.7%
Smoking women
7.4%
Current as of
2025

Area (sq. km)

Total area
75420
Land area
74340
Water area
1080

Popular payment systems

  • Mastercard
  • PayPal
  • Visa
  • NEQUI

Age-sex pyramid

Phone operating systems

Android
72.48%
iOS
27.29%
Current as of
2025

Internet and telecommunications

Telephone code
+507
Internet domain
.pa
Number of mobile phones (per 100 inhabitants)
18 (2023)
Internet user penetration
78%
Fixed internet penetration
18%
Current as of
2023

General information

Сontinent
North America
Time zone
UTC−5
Tier
Tier-2
ISO code
PM
Capital
Panama
Official language
Spanish

Average consumer spendings

Food products
15.4%
Alcohol and tobacco
1.6%
Current as of
2023

Alcohol consumption per capita (liters per year)

Total quantity
6.54
Beer
5.29
Wine
0.02
Spirits
1.2
Other alcohol
0.02
Current as of
2019

Population and society

Population size
4470241 (2024)
Male population
2251257
Female population
2218984
Population growth rate
1.48% (2024)
Birth rate (per 1,000 people)
17.4 (2024)
Death rate (per 1,000 people)
5.4 (2024)
Urbanization
69.5% (2023)

Credit ratings

Fitch
BBB (2011)
Moody's
Baa1 (2019)
Standard & Poors
BBB (2020)

Age structure

0-14 years
25%
15-64 years
64.8%
65+ years
10.1%
Current as of
2024

Religion

Main religion
Christianity
Non-religious
10.1%
Not specified
1.5%
Current as of
2023

Last update: 2025-08-12