Aaron O'Neill
Research lead for society, economy, and politics: Europe & global
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This statistic shows the total population of Panama from 2019 to 2023, with projections up until 2029. In 2023, the total population of Panama amounted to approximately 4.45 million inhabitants.
Panama's population
Even though the population growth trend in Panama is pointing upwards, a total of only 4.42 million people are expected to inhabit the country by 2020. This is about the size of a medium city in many other parts of the world, and it is relatively small in comparison to other South-American countries. The largest city in Panama is its capital, Panama City, located at the Pacific Ocean on the famous Panama Canal, with a population of about 430,000. The second largest city is San Miguelito with 320,000.
The Panama Canal serves to fuel the services sector, and the country's overall GDP per capita is increasing steadily. By 2020, GDP per capita is expected to reach around 17,000 U.S. dollars. A total of 16.7 percent of employment still belongs to the agricultural sector, which is quite high considering that agriculture composes a very small share of total GDP. As is the case with many developing countries, agriculture remains an important source of income for many inhabitants. Addtionally, more than half of Panama's inhabitants live in urban areas. This means that while urbanization is still underway a fairly large proportion of inhabitants still live in rural areas.
Panama's population
Even though the population growth trend in Panama is pointing upwards, a total of only 4.42 million people are expected to inhabit the country by 2020. This is about the size of a medium city in many other parts of the world, and it is relatively small in comparison to other South-American countries. The largest city in Panama is its capital, Panama City, located at the Pacific Ocean on the famous Panama Canal, with a population of about 430,000. The second largest city is San Miguelito with 320,000.
The Panama Canal serves to fuel the services sector, and the country's overall GDP per capita is increasing steadily. By 2020, GDP per capita is expected to reach around 17,000 U.S. dollars. A total of 16.7 percent of employment still belongs to the agricultural sector, which is quite high considering that agriculture composes a very small share of total GDP. As is the case with many developing countries, agriculture remains an important source of income for many inhabitants. Addtionally, more than half of Panama's inhabitants live in urban areas. This means that while urbanization is still underway a fairly large proportion of inhabitants still live in rural areas.
