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Canada-Panama fact sheet

Official Title:
Republic of Panama

General Information

Capital: Panama City
Population (million): 4.22
Total Area: 93,739km2
Currency: 1 CAN$ = 0.76 Balboa (PAB) (2019- Annual average)
National Holiday: 03 November
Language(s): Spanish

Political Information

Type of State:
Republic

Type of Government:
Constitutional democracy. Panama is a centralized republic with a 71-seat unicameral Legislative Assembly. Presidential and legislative elections are held every 5 years.

Head of State:
President Laurentino Cortizo Cohen

Head of Government:
President Laurentino Cortizo Cohen

Ministers:
Vice President: Jose Gabriel Carrizo Jaen
Foreign Affairs: Alejandro Ferrer López
Trade and Industry: Ramón Eduardo Martínez de la Guardia

Main Political Parties:
Revolutionary Democratic Party (PRD): 35 Molirena Party: 5 Democratic Change Party (CD): 18 Panameñista Party: 8 Independent: 5

Elections:
Next: 2024 (Legislative and Presidential)

Economic Information (2019)

Comparative figures
Type Panama Canada
GDP: ($ billion) 90.18 2,277.52
GDP per capita: ($) 21,375.59 60,806.37
GDP growth rate: (%) 3.01 1.64
Inflation: (%) -0.36 1.95
Unemployment: (%) 7.07 5.67

Source: IMF (estimates)

Product Trade and Investment (2019)

Canadian exports to country: $233,573,272
Canadian imports from country: $9,555,419
FDI in Canada: $18 million
CDI in the country: $3,687 million

Source: Statistics Canada

Representation

Foreign Representation in Canada:
Ambassador Romy Vasquez Morales

Canadian Representation Abroad:
Ambassador Lilly Nicholls

Please note that all statistics reflect Canadian dollars, with some figures reflecting the yearly averages for the year. If listed as ’0’ or absent, the figure is unavailable.

Bilateral Product trade
Canada - Panama
Year Exports Imports
2015 $138,281,523 $10,988,129
2016 $122,709,838 $7,856,174
2017 $150,527,344 $10,544,547
2018 $157,548,024 $7,408,038
2019 $233,573,272 $9,555,419
21 HS Sections (2019)
Canada - Panama
Section Exports Imports
01 Animal & Prod. $12,078,625 $538,173
02 Veg. Prod. $12,125,744 $1,656,293
03 Fats, Oils & Waxes Prod. $321,496 $394,382
04 Food Prod. $5,341,362 $2,394,101
05 Mineral Prod. $100,972,328 $55,712
06 Chemical Prod. $20,195,667 $962,268
07 Plastics, Rubber Prod. $3,361,759 $40,936
08 Leather, Fur Prod. $14,043 $692
09 Wood Prod. $677,233 $81,949
10 Paper Prod. $4,732,365 $52,124
11 Textiles Prod. $1,610,484 $211,205
12 Dress Access. $114,038 $8,240
13 Glass & Stone Prod. $4,410,976 $2,057,315
14 Precious Metals/stones $10,999,807 $5,649
15 Base Metal Prod. $2,025,341 $50,342
16 Mach. Mech. Elec. Prod. $24,784,038 $891,624
17 Vehicles and Equip. $18,896,512 $46,546
18 Specialized Inst. $1,990,525 $99,952
19 Arms & Ammunition $ $
20 Misc. Articles $1,834,524 $6,347
21 Antiques $ $463


September 2020
Sources include: Statistics Canada, IMF

Date Modified: