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HOME » Panama
PANAMA [2]
» Colon Free Zone [1]» Panama [1]
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USEFUL BUSINESS INFORMATION ON PANAMA

  

1. Country Brief:

 

A. Introduction - The southernmost of the Central American nations, Panama is south of Costa Rica and north of Colombia. The Panama Canal bisects the isthmus at its narrowest and lowest point, allowing passage from the Caribbean Sea to the Pacific Ocean. Panama is slightly smaller than South Carolina. It is marked by a chain of mountains in the west, moderate hills in the interior, and a low range on the east coast. There are extensive forests in the fertile Caribbean area.

 

The rainforests of the southeastern Darien region are some of the wildest areas left in the Americas. Elected governments have held power since the US invasion of 1989. Panama's traditional economic strength is its banking sector. The US returned control of the Panama Canal Zone to Panama on December 31, 1999.

 

B. Climate - Panama has two distinct seasons. The dry season lasts from mid-December to mid-April while the rainy season goes from mid-April to December. North of the mountains, on the Caribbean side of Panama, it rains all year round. However, it tends to rain less in February, March, September and October than it does the rest of the year. Temperatures are typically hot in the lowlands throughout the year - days usually reach around 32°C (90°F) and only drop to an average of 22°C (72°F). During the rainy season the humidity makes the heat even harder to endure. Mountain temperatures are much cooler, ranging from 10-18°C (50-64°F) in a day, and they too vary little throughout the year.

 

C. Geographical Area - 78,200 km2

 

D. Language - Spanish

 

E. Currency With Exchange Rate -

1.00 PAB=1.00000 USD

1 USD = 1.00000 PAB

 

F. Population - 3,039,150 (July 2006 est.)

 

G. Major Cities - San Miguelito, Colon, Gamboa

 

2. Transportation:

 

A. Railway - total: 355 km (2002)

 

B. Road - total: 11,400 km; paved: 3,944 km (including 30 km of expressways); unpaved: 7,456 km (1999).

                                                                                              

C. Airports - 103 (2002)

 

D. Waterways - 882 km navigable by shallow draft vessels; 82 km Panama Canal

 

E. Sea ports - Balboa, Cristobal, Coco Solo, Manzanillo (part of Colon area), Vacamonte.

 

3. Economy:

 

A. Major Manufacturing -

 

B. Major Export - $7.481 billion f.o.b.; note: includes the Colon Free Zone (2005 est.): bananas, shrimp, sugar, coffee, clothing

 

C. Import - $8.734 billion f.o.b. (includes the Colon Free Zone) (2005 est.): capital goods, foodstuffs, consumer goods, chemicals.

 

D. Major Industry -construction, brewing, cement and other construction materials, sugar milling

 

E. Trade balance -

 

4. Trade Associations, Chamber of Commerce, Trade shows and Exhibitions in Panama:

 

Major Trade Associations

 

ASOCIACION AUTOMOVILISTICA DE TOURING Y DEPORTES DE PANAMA (ASAI)

Apartado Postal 832-0662

Panama

Tel: (+507) 214 49 29

WTC   Fax: (+507) 214 91 74

Email: [email protected]

President: Rodrigo A. TERÁN D.

 

Chambers of Commerce

 

A) American Chamber of Commerce and Industry of Panama

Apartado Postal 0843-00152

Panama, Rep. de Panama

(507) 301-3881

(507) 301-3882

[email protected]

www.panamcham.com

PANAMA

David Hunt, Chief Executive Officer

 

B) Panama Chamber of Commerce, Industry and Agriculture

Camara de Comercio de Panama

P.O. Box 74 Zona 1

Panama, RP

Tel: (507) 225 12233/4615

Fax: (507) 227-4186/225-3653

 

Major Trade Shows

 

5. Useful links:

 

Panama Importers, Dealers of Japanese Used Cars, Construction Machinery & Auto Parts

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