---
title: Panama Data, Population, Economy and Geography
url: https://www.allaboutpanamacity.com/guides/articles/panama-data
summary: Detailed insights into Panama's population, economy, and geographic data, including GDP, average income, and area statistics.
date: 2024-03-11
lastmod: 2024-03-11
tags: finance, knowing-the-country
language: en
---


## Introduction

Panama maintains its important international trade position since its ideal geographic position location is between North America and South America.
This article presents detailed information on Panama data, focusing on Panama population, Panama GDP, GDP per capita in Panama, buying power of 1 US dollar in Panama, Panama average income, and Panama area.

## Panama Population

### Total Population

The total Panama population reached around **4.3 million people** in 2025 according to the [Statista website](https://www.statista.com/topics/2847/panama/). The population growth shows no significant changes while development and urbanization continue stably.

### Population in Panama City

The city of Panama has a total population of around **1 million people**. Panama's economic centre function is supported by the **2.1 million people** living in its metropolitan area beyond the capital city population.

## Panama GDP and Economic Data

### Panama GDP

Panama's GDP represents a robust, service-oriented economy driven by sectors such as logistics, banking, commerce, and tourism. As of **2023**, Panama's GDP is valued at approximately **\$83 billion**, placing it among the leading economies in Central America.

### GDP Per Capita in Panama

The GDP per capita measurement in Panama stood at **\$18,686.41** during **2023**. The economic and living standards in Panama rank higher than most other countries in the region thanks to its strong economic position.

The buying power of **\$1 US dollar in Panama** remains consistent. Panama uses the **US dollar as its official currency**, which maintains its purchasing power equivalent to **\$1.00**. This currency stability ensures reliable purchasing power.

### Panama Average Income

Panama's average annual income shows strong correspondence with GDP per capita measurements by reaching approximately **\$1,288 per month** in **2023**. The yearly average income enables a middle-class standard of living, which covers many urban Panamanian people including those located in Panama City.

Take a look at our article [The Economy of Panama](/guides/articles/economy-of-panama) to get more information about the economy of the country.

## Panama Area and Geographic Data

### Panama Area

With **75,420 square kilometers (29,119 square miles)**, the **Panama area** places itself as the **119th largest country** across the globe. Panama contains different natural landscapes that combine tropical rainforests with mountain ranges and long stretches of coastal regions.

### Population Density

The region of Panama features an **average density of 58.4 people per square kilometer**, demonstrating potential growth for urban development and future economic expansion.

## Key Takeaways

- The **strategic position** of Panama's economy relies on its **service-based industry**, which includes logistics and banking operations.
- The **demographic focus** centres in Panama City because this metropolitan region demonstrates a large number of residents.
- The **dollarized economic system** maintains consistent purchasing strength between transactions.
- Panama demonstrates **solid economic strength** through high wages and strong financial indicators.

## External Resources

- [Statista](https://www.statista.com/topics/2847/panama/)
- [Panama: Gross Domestic Product](https://www.statista.com/statistics/454680/gross-domestic-product-gdp-in-panama/)
- [World Bank Panama Data](https://www.worldbank.org/en/country/panama)
- [International Monetary Fund - Panama](https://www.imf.org/en/Countries/PAN)
- [United Nations Development Programme: Panama Human Development Reports](https://hdr.undp.org/data-center/specific-country-data#/countries/PAN)
- [Panamá District, Panama - Population Statistics, Charts, Map and Location](https://www.citypopulation.de/en/panama/admin/panam%C3%A1/0808__panam%C3%A1/)
- [Panama Average Monthly Wages](https://tradingeconomics.com/panama/wages)