According to abbreviationfinder, Panama City is the capital of the Republic of Panama, of the province of Panama and head of the homonymous district. It is the largest and most populated city in the country, officially reaching 880,691 residents within its municipality and 1,446,792 residents in its metropolitan area. It is located on the shores of the Gulf of Panama, in the Pacific Ocean, east of the mouth of the Panama Canal.
The city of Panama grew physically lengthening in extension, due to the narrowness caused by the old Canal Zone and the Bay of Panama, which has generated an extensive road infrastructure towards the northeast. The city is born at the entrance of the canal and on the shore of the Pacific Ocean at 0 meters above sea level, its lowest elevation, and it spreads to the east and north, in a flat and ventilated region which little by little rises to an altitude average of 30 msnm. With an average extension of 100 km² (16 km – 7 km), its highest point is the Ancón hill, at the top of which the Panamanian flag flies, which can be appreciated from the city.
The city is crossed by 8 rivers that are: Cárdenas, Curundú, Matasnillo, Matías Hernández, Río Abajo, Juan Díaz, Tapía and Tocumen.
The city has a tropical sub-equatorial climate. Average annual precipitation is close to 2,000 mm, an average relative humidity of 75% and an average temperature of 27 ° C.
Basically the Panamanian population is made up of the descendants of Spaniards, Indians and blacks who resided in the Isthmus throughout its history and the different human groups to which the mixtures between them have given rise. There are also the descendants of Europeans, North Americans, Chinese, Hindus and other ethnic groups, all living in complete harmony. Almost all immigrants acquire Panamanian nationality and integrate into national life with pride and love for their new homeland while always keeping something. of the old terroir as customs, language and religion. Panama City offers the visitor both daytime and nightlife, and both have definite characteristics. See population of Panama.
In recent years the economy of Panama has experienced an extraordinary bonanza that has triggered the Gross Domestic Product to growth averages of more than 8% for the period 2006 – 2008 (one of the fastest in the region).
Like many countries in the area, Panama suffered the effects of the global financial crisis and registered a growth of 3.2% in 2009, compared to 10.1% in 2008. However, in 2010 the Panamanian economy resumed its trend and grew by 7.5%.
The Panama Canal expansion project and a series of mega-projects are expected to inject greater vitality into the economy and drive it to grow steadily. This represents the historic opportunity to make progress in reducing poverty and inequality.
Despite Panama’s status as an upper-middle-income country (in terms of its GDP), it still remains a society of sharp contrasts. Partly due to severe educational disparities, more than a third of the population still lives in poverty and 14.4% in extreme poverty.
Panama’s economy is considered one of the best in the Latin American region, especially very promising and growing. According to the World Bank, Panama has the GDP (gross domestic product) per capita with the highest increase in the Central American region with 12,503 dollars of purchasing power, according to ECLAC (Economic Commission for Latin America and the Caribbean) is the largest importer and exporter of the whole region.
Foreign investment has largely favored the strengthening of the economy since 2004, whose growth has been increasing over the years. Panama’s geographic advantage contributes to this success. The areas of greatest concentration with respect to investments are industrial and construction.
The official currency is the Balboa, which is equivalent to the United States dollar since (1904). The Panama Canal and its expansion have made the country great, also thanks to its contributions, it opened the doors to other horizons with the speeding up of the commercial movement, it is expected that for the next few years, the country will receive large capacity ships with the completion of the expansion of the canal, being a magnificent advantage for the continued growth of this region. Panama has a free economy system whose concern is to boost exports, its main objective is to develop and improve every day to keep the economy in average growth.
Customs and traditions
Panamanians from their ancestors have linked five indigenous cultures that took shape before the stage marked by Christopher Columbus.
Starting in the 16th century, with the arrival of the Spaniards, transformations increased by the subsequent presence of African descendants began to take place and on a lesser scale in terms of legacy are the Chinese, French and North Americans who also enriched the country’s heritage with their music and art.
The variety of dances is enormous and among them are the so-called Great Devil that symbolizes the afterlife struggle between good and evil, represented in the figures of the Angel San Miguel and the Devil, respectively.
There is also La Pajarilla, a manifestation cultivated by the residents of San José de Las Tablas and constitutes one of the Corpus Christi festivals.
The Montezuma in its Spanish and Bighead versions has been in force in the towns of Azuero, especially in La Villa de Los Santos.
El Torito is considered a famous and joyful dance. Likewise, the Cucuas, Dirty Devils and Mirror Devils are added.
The country has a rich variety of legends that are told especially in inland towns, where the Virgin Warrior or Margarita de los Campos and the Chorro de las Mozas by Luisita Aguilera Patiño, the Pargo Negro by Manuel María Alba, can be cited. The Enchanted Girl of the Salto del Pilón by Sergio González Ruiz. The most notable festivals are the patronal festivals, the Saturday of Glory, the Day of the Cross, the Mejorana Festival, the Pollera Festival, San Sebastián in Ocú, Corpus Christi and others with interesting peculiarities.