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About Panama

Panama, officially known as the Republic of Panama is a Central American Country that connects North America with South America strategically. The country was part of the Spanish Colonization

Panama n well known for the Panama Canal which helps ships to move from the Atlantic Ocean to the Pacific Ocean. Hence the economy revolves around the services, tourism, trading, and other industries that support the Canal Activities.

Panama is also considered as the Tax Haven of the world and hence the financial services industry thrives in the nation.

Country Facts


Basic Details
RegionCentral America
Capital CityPanama City
Government TypePresidential Republic
Official LanguagesSpanish
CurrencyBalboa (PAB), United States dollar, USD
Phone Code +507
Important CitiesColon, David, La Chorrera, Santiago, Changuinola, Penonome, Bugaba, Puerto Armuelles, Anton, Chepo, Chitre, Sweet water, Capira, Chame, Soná
National DaySeparation Day (Nov-03)
GDP (nominal)USD 82.348 Billion
Ease of Doing Business Ranking86
Primary IndustriesFinancial service,Agriculture.
Foreign Relations
Bordering NationsColombia, Costa Rica
Member of(United Nations)
Major ExportsMining, Metals & Minerals, Pharmaceutical Products, Electrical Products, Machinery & Appliances, Chemical Products, Cosmetics and Accessories, Fashion and Apparel, Food & Beverages, Spirits & Vinegar, Automobiles, Vehicles & Components, Gems & Jewellery, Plastics and Products, Rubber and Products, Hides, Leather & Tannery, Instruments & Optical Solutions, Fisheries, Sea Food & Crustaceans, Silk & Textiles
Major ImportsMining, Metals & Minerals, Chemical Products, Electrical Products, Fashion and Apparel, Cosmetics and Accessories, Food & Beverages, Spirits & Vinegar, Plastics and Products, Instruments & Optical Solutions, Household Items & Products, Rubber and Products, Books and Papers, Cereals & Pulses, Toys and Games
Total Exports ValueUSD 15.467 Billion
Total Imports ValueUSD 29.249 Billion
Foreign Trade BalanceUSD 13.782 Billion (Deficit)
Foreign Relations with India
Trade Agreements with IndiaMoU on Foreign Office Consultations 2001 MoU on Cultural and Educational Co-operation 2001 Mutual Cooperation between the Foreign Service Institute of MEA and the Diplomatic Academy (of the Ministry of External Relations) of Panama, 2001 Mutual Cooperation between Ministry of Agriculture of India and the Ministry of Agricultural Development of Panama in the Field of Agricultural Research and Education, 2001
Major Exports to IndiaMining, Metals & Minerals, Wood and Pulp, Automobiles, Vehicles & Components, Hides, Leather & Tannery, Pharmaceutical Products, Electrical Products, Agriculture & Farming Products and Solutions, Gems & Jewellery, Fashion and Apparel, Machinery & Appliances, Railway and Locomotives, Silk & Textiles, Cosmetics and Accessories
Major Imports from IndiaAutomobiles, Vehicles & Components, Fashion and Apparel, Pharmaceutical Products, Machinery & Appliances, Silk & Textiles, Agriculture & Farming Products and Solutions, Electrical Products, Plastics and Products, Cosmetics and Accessories, Rubber and Products, Mining, Metals & Minerals, Chemical Products, Retail & Fmcg Products, Books and Papers, Household Items & Products
India's Imports ValueUSD 283.35 Million
India's Exports ValueUSD 314.56 Million
Trade Balance with IndiaUSD 31.21 Million (Deficit)
Indian Embassy Details for PanamaEmbassy of India
H.E.Dr.Sumith Seth
Honourable Ambassador
10325, Avenida Federico Boyd,Apdo 0823-05815, Bella Vista, Panama, Republic of Panama
507-2642416, 2643043, 2648780

Embassy Details of Panama in IndiaEmbassy of Panama
H.E. Mrs. Yasiel Alines Burillo Rivera
F-9/11Ground FloorVasant ViharNew Delhi-110057
+91-11- 26148260, 26148268 (O)

Consulate General of Panama in Mumbai
Mr. Francisco Jose Bonilla Garcia
Consul General
7th Floor, Apeejay House Dinshaw vacha Road Next to K.C. College Churchgate
02222857100 (O)