About Panama

Panama is a country on the isthmus linking Central and South America. The Panama Canal, a famous feat of human engineering, cuts through its center, linking the Atlantic and Pacific oceans to create an essential shipping route. In the capital, Panama City, modern skyscrapers, casinos and nightclubs contrast with colonial buildings in the Casco Viejo district and the rainforest of Natural Metropolitan Park.

Country Name: Panama
Region: Central America
Capital: Panama City
Official Language: Spanish
Currency: Balboa (PAB), U.S. Dollar (USD)
Population: (update to current data)
Time Zone: Eastern Standard Time (EST)
Major Cities: Panama City, San Miguelito, Juan Díaz, David, Tocumen

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Trade Overview:

With its strategic location connecting the Atlantic and Pacific Oceans through the Panama Canal, Panama has an economy heavily oriented towards trade and services. It has one of the fastest-growing economies in Latin America, with a significant role in logistics, banking, and tourism.

Major Imports: Refined petroleum, passenger and cargo ships, cars, packaged medicaments, computers

Major Exports: Passenger and cargo ships, bananas, fruits and nuts, seafood, mineral fuels and oils


Import/Export Regulations:

Panama has a generally liberal import/export environment, but certain goods may require specific permits. It’s advisable to check with Panamanian customs authorities or seek professional legal advice.


Trade Agreements:

Panama is a member of the World Trade Organization (WTO) and has signed several Free Trade Agreements (FTAs), including with the United States, Canada, the European Union, and several countries in Central and South America.


Business Culture:

Business in Panama is conducted formally, with great importance placed on personal appearance and punctuality. While Spanish is the official language, English is widely spoken in business circles.


Links to Listings:

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Resources:

Note: Always ensure to update the trade information with the latest available data and cross-verify from the official resources.