The region on the world map where Panama is located is called Central America. It occupies an intermediate position between two continents - North and South America.
Geography of Panama
If you look at where Panama is located on the world map, you can see that the country occupies a middle position not only in relation to its neighbors, which are Colombia and Costa Rica, but also in relation to the two oceans. From the east, Panama is washed by the Atlantic Ocean, and from the West - the Pacific.
The climate in the country belongs to the tropical zone, which leads to high humidity and cloud cover. The rainy season here lasts from May to January. The rest of the time on the Isthmus of Panama is dry and hot. The country occupies only 78 thousand square kilometers, and the length of its borders does not exceed 555 kilometers, 225 of which are on the border with Colombia.
The relief is characterized by mountainousness, strong ruggedness and a significant increase in the level in the central part of the country, while offshore the land level decreases and the landscape becomes flat.
The highest point in the country is Baru Volcano, reaching an altitude of 3474 meters above sea level. Today, the volcano is in a state of sleep, however it is reliably known that the last eruption occurred around 500 AD. The volcano is a popular tourist attraction, and several hiking trails are laid along its slopes. The longest route of 22 kilometers requires less physical training, a shorter and more steep one stretches for 13 kilometers.
Panama Economy
The region where Panama is located is considered not the most prosperous in both economic and social terms. However, Panama is considered one of the most stable and prosperous countries in Central America. The state currency is bilbao, but the American dollar is used along with it.
The structure of the country's economy is determined by the very position of Panama on the world map. First of all, the country is focused on international transit, since the famous Panama Canal built by the US military passes through its territory. The grand opening of the channel took place on August 15, 1914.
Today, the channel is managed by a state-owned enterprise, which sets the amount of payment for the passage through the channel and charges it. Its size depends on the tonnage or length of the vessel.
Another important sector of the national economy is agriculture, which is represented mainly by the industrial production of tropical fruits.
Financial sector
But not only agriculture and ship transit through the channel bring money to the state budget. In recent decades, the Government of Panama has made great efforts to create a favorable image for the country in the international arena.
However, now the financial sector is actively developing only due to the fact that Panama has become an international offshore with low capital quality requirements, which only strengthens the attention of international regulatory organizations.