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Information Specialists
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Red
Sea Management provides Panama offshore incorporation, Panama offshore asset protection and a full range of services. |
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Report on Panama

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| Background:
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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. On 7 September 1977,
an agreement was signed for the complete transfer of the Canal from
the US to Panama by the end of 1999. Certain portions of the Zone and
increasing responsibility over the Canal were turned over in the
intervening years. 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 turned over to Panama by or on 31
December 1999.
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| Location:
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Middle America, bordering both the Caribbean Sea and the North Pacific
Ocean, between Colombia and Costa Rica
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Geographic coordinates:
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9 00 N, 80 00 W
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| Map
references:
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Central America and the Caribbean
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Area:
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total: 78,200 sq km
land: 75,990 sq km
water: 2,210 sq km
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| Area -
comparative:
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slightly smaller than South Carolina
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| Land
boundaries:
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total: 555 km
border countries: Colombia 225 km, Costa Rica 330 km
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Coastline:
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2,490 km
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| Maritime
claims:
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contiguous zone: 24 NM
exclusive economic zone: 200 NM
territorial sea: 12 NM
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| Climate:
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tropical maritime; hot, humid, cloudy; prolonged rainy season (May to
January), short dry season (January to May)
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| Terrain:
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interior mostly steep, rugged mountains and dissected, upland plains;
coastal areas largely plains and rolling hills
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| Elevation
extremes:
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lowest point: Pacific Ocean 0 m
highest point: Volcan de Chiriqui 3,475 m
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| Natural
resources:
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copper, mahogany forests, shrimp, hydropower
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| Land use:
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arable land: 7%
permanent crops: 2%
permanent pastures: 20%
forests and woodland: 44%
other: 27% (1993 est.)
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| Irrigated
land:
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320 sq km (1993 est.)
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| Natural
hazards:
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NA
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Environment - current issues:
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water pollution from agricultural runoff threatens fishery resources;
deforestation of tropical rain forest; land degradation and soil
erosion threatens siltation of Panama Canal
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| Environment
- international agreements:
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party to: Biodiversity, Climate Change, Climate Change-Kyoto
Protocol, Desertification, Endangered Species, Hazardous Wastes, Law
of the Sea, Marine Dumping, Nuclear Test Ban, Ozone Layer Protection,
Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands
signed, but not ratified: Marine Life Conservation
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| Geography
- note:
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strategic location on eastern end of isthmus forming land bridge
connecting North and South America; controls Panama Canal that links
North Atlantic Ocean via Caribbean Sea with North Pacific Ocean
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Population: |
2,845,647 (July 2001 est.)
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| Age
structure: |
0-14 years: 30.13% (male 436,661; female 420,625)
15-64 years: 63.86% (male 920,787; female 896,520)
65 years and over: 6.01% (male 81,682; female 89,372) (2001
est.)
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Population growth rate:
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1.3% (2001 est.)
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| Birth
rate: |
19.06 births/1,000 population (2001 est.)
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| Death
rate: |
4.95 deaths/1,000 population (2001 est.)
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| Net
migration rate: |
-1.1 migrant(s)/1,000 population (2001 est.)
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| Sex
ratio: |
at birth: 1.04 male(s)/female
under 15 years: 1.04 male(s)/female
15-64 years: 1.03 male(s)/female
65 years and over: 0.91 male(s)/female
total population: 1.02 male(s)/female (2001 est.)
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| Infant
mortality rate: |
20.18 deaths/1,000 live births (2001 est.)
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| Life
expectancy at birth: |
total population: 75.68 years
male: 72.94 years
female: 78.53 years (2001 est.)
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| Total
fertility rate: |
2.27 children born/woman (2001 est.)
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| HIV/AIDS
- adult prevalence rate: |
1.54% (1999 est.)
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| HIV/AIDS
- people living with HIV/AIDS: |
24,000 (1999 est.)
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| HIV/AIDS
- deaths:
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1,200 (1999 est.)
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Nationality: |
noun: Panamanian(s)
adjective: Panamanian
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| Ethnic
groups:
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mestizo (mixed Amerindian and white) 70%, Amerindian and mixed (West
Indian) 14%, white 10%, Amerindian 6%
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Religions:
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Roman Catholic 85%, Protestant 15%
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Languages: |
Spanish (official), English 14%
note: many Panamanians bilingual
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| Literacy: |
definition: age 15 and over can read and write
total population: 90.8%
male: 91.4%
female: 90.2% (1995 est.)
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| Country
name:
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conventional long form: Republic of Panama
conventional short form: Panama
local long form: Republica de Panama
local short form: 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 one territory* (comarca);
Bocas del Toro, Chiriqui, Cocle, Colon, Darien, Herrera, Los Santos,
Panama, San Blas*, and Veraguas
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Independence: |
3 November 1903 (from Colombia; became independent from Spain 28
November 1821)
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| National
holiday: |
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: |
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)
election results: Mireya Elisa MOSCOSO Rodriguez elected
president; percent of vote - Mireya Elisa MOSCOSO Rodriguez (PA) 44%,
Martin TORRIJOS (PRD) 37%
note: government coalition - PA, MOLIRENA, Democratic Change,
MORENA, PLN, PS
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Legislative branch: |
unicameral Legislative Assembly or Asamblea Legislativa (71 seats;
members are elected by popular vote to serve five-year terms)
elections: last held 2 May 1999 (next to be held NA May 2004)
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
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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]; Christian
Democratic Party or PDC [Ruben AROSEMENA]; 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]; Solidarity Party or PS
[Samuel LEWIS Galindo]
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| Political
pressure groups and leaders: |
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: |
CCC, ECLAC, FAO, G-77, IADB, IAEA, IBRD, ICAO, ICFTU, ICRM, IDA, IFAD,
IFC, IFRCS, ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC, IOM,
ISO, 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: |
chief of mission: Ambassador Alfredo BOYD
chancery: 2862 McGill Terrace NW, Washington, DC 20008
telephone: [1] (202) 483-1407
consulate(s) general: Atlanta, Houston, Miami, New Orleans, New
York, Philadelphia, San Francisco, Tampa
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Diplomatic representation from the US: |
chief of mission: Ambassador (vacant); Charge d'Affaires
Frederick A. BECKER
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: |
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
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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, high oil prices, and the withdrawal of US
military forces held back economic growth in 2000. The government
plans public works programs, tax reforms, and new regional trade
agreements in order to stimulate growth in 2001.
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| GDP:
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purchasing power parity - $16.6 billion (2000 est.)
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| GDP -
real growth rate: |
2.5% (2000 est.)
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| GDP - per
capita: |
purchasing power parity - $6,000 (2000 est.)
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| GDP -
composition by sector: |
agriculture: 7%
industry: 16.5%
services: 76.5% (1999 est.)
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Population below poverty line: |
37% (1999 est.)
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| Household
income or consumption by percentage share: |
lowest 10%: 1.2%
highest 10%: 35.7% (1997)
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| Inflation
rate (consumer prices): |
1.8% (2000 est.)
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| Labor
force: |
1.1 million (2000 est.)
note: shortage of skilled labor, but an oversupply of unskilled
labor
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| Labor
force - by occupation: |
agriculture 20.8%, industry 18%, services 61.2% (1995 est.)
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Unemployment rate: |
13% (2000 est.)
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| Budget:
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revenues: $2.8 billion
expenditures: $2.9 billion, including capital expenditures of
$471 million (2000 est.)
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Industries: |
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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4.413 billion kWh (1999)
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| Electricity
- production by source:
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fossil fuel: 27.78%
hydro: 71.65%
nuclear: 0%
other: 0.57% (1999)
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Electricity - consumption:
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4.049 billion kWh (1999)
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| Electricity
- exports:
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95 million kWh (1999)
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Electricity - imports: |
40 million kWh (1999)
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Agriculture - products:
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bananas, rice, corn, coffee, sugarcane, vegetables; livestock; shrimp
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| Exports: |
$5.7 billion (f.o.b., 2000 est.)
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| Exports -
commodities: |
bananas, shrimp, sugar, coffee, clothing
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| Exports -
partners: |
US 42%, Germany 11%, Costa Rica 5%, Benelux 4%, Italy 4% (1999)
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| Imports: |
$6.9 billion (f.o.b., 2000 est.)
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| Imports -
commodities: |
capital goods, crude oil, foodstuffs, consumer goods, chemicals
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| Imports -
partners: |
US 39%, Colon Free Zone 14%, Japan 8%, Ecuador 6%, Mexico 5% (1999)
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| Debt -
external: |
$7.56 billion (2000 est.)
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| Economic
aid - recipient: |
$197.1 million (1995)
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| Currency:
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balboa (PAB); US dollar (USD)
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| Currency
code: |
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: |
calendar year
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Telephones - main lines in use:
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396,000 (1997)
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Telephones - mobile cellular: |
17,000 (1997)
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Telephone system: |
general assessment: domestic and international facilities well
developed
domestic: NA
international: 1 coaxial submarine cable; satellite earth
stations - 2 Intelsat (Atlantic Ocean); connected to the Central
American Microwave System
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| Radio
broadcast stations: |
AM 101, FM 134, shortwave 0 (1998)
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| Radios: |
815,000 (1997)
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Television broadcast stations: |
38 (including repeaters) (1998)
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Televisions: |
510,000 (1997)
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| Internet
country code: |
.pa
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| Internet
Service Providers (ISPs): |
6 (2000)
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| Internet
users: |
45,000 (2000)
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| Railways:
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total: 355 km
broad gauge: 76 km 1.524-m gauge
narrow gauge: 279 km 0.914-m gauge
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| Highways: |
total: 11,592 km
paved: 4,079 km (including 30 km of expressways)
unpaved: 7,513 km (2000)
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Waterways: |
882 km
note: 800 km navigable by shallow draft vessels; 82 km Panama
Canal
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| Pipelines: |
crude oil 130 km (2001)
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| Ports and
harbors: |
Balboa, Cristobal, Coco Solo, Manzanillo (part of Colon area),
Vacamonte
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| Merchant
marine: |
total: 4,711 ships (1,000 GRT or over) totaling 111,515,984 GRT/169,655,363
DWT
ships by type: bulk 1,381, cargo 925, chemical tanker 314,
combination bulk 71, combination ore/oil 18, container 525, liquefied
gas 193, livestock carrier 5, multi-functional large-load carrier 12,
passenger 41, passenger/cargo 4, petroleum tanker 544, railcar carrier
2, refrigerated cargo 297, roll on/roll off 106, short-sea passenger
36, specialized tanker 29, vehicle carrier 208
note: includes some foreign-owned ships registered here as a
flag of convenience: Argentina 11, Australia 1, Austria 1, Bermuda 21,
Belgium 4, The Bahamas 7, Brazil 2, Canada 4, China 154, Chile 4,
Cayman Islands 1, Colombia 6, Cuba 7, Cyprus 4, Denmark 12, Egypt 8,
Ireland 2, Equatorial Guinea 1, Finland 1, France 4, Germany 17,
Greece 248, Hong Kong 158, Honduras 2, Croatia 3, Indonesia 40, India
11, Iran 1, Israel 3, Italy 7, Japan 1,007, Jordan 2, South Korea 223,
Latvia 4, Lithuania 1, Liberia 2, Monaco 43, Malta 1, Mexico 5,
Malaysia 6, Netherlands 6, Norway 36, Netherlands Antilles 1, Peru 5,
Pakistan 1, Portugal 5, Philippines 10, Russia 6, Saudi Arabia 6,
Seychelles 2, South Africa 5, Singapore 73, Spain 35, Sweden 4, Syria
11, Switzerland 53, UAE 11, Thailand 15, Taiwan 170, UK 18, US 79,
Venezuela 18, Samoa 1 (2000 est.)
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| Airports: |
107 (2000 est.)
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| Airports
- with paved runways: |
total: 42
over 3,047 m: 1
2,438 to 3,047 m: 1
1,524 to 2,437 m: 5
914 to 1,523 m: 13
under 914 m: 22 (2000 est.)
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| Airports
- with unpaved runways: |
total: 65
914 to 1,523 m: 13
under 914 m: 52 (2000 est.)
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| Military
- note: |
defense is the responsibility of France
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| Disputes
- international: |
none |
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