The Panamanian Flag is split into four quadrants, and two of them are colored in, diagonal of each other. The colors are blue (hoist side) and red. The red is on the right side of the flag, over the red star, but the blue is on the left side of the flag, under the blue star. The two that do not have red or blue in them each have a star of either blue or red in the middle. The blue and red are the two colors of the main political parties, Conservatives and Liberals, respectively. The white quadrants denote peace between them. The blue star stands for civic virtues of purity and honesty, and the red star represents authority and law.
ECONOMICS
Panama is a middle class Central American country, where the primary work force is service. Panama uses a currency called the Panamanian Balboa (PAB), which has an exchange rate of 1 to US Dollars (USD). The GDP in 2023 was $159.908 billion, and the growth rate has ranged between 7% and 15% over the last 5 years. The GDP per capita (GDP divided by the population) was $35,900 in 2023, and the inflation rate hit 1.49% in 2023. The GDP Composition (money made from each sector of job) is 67.3% from services, 27.8% from industrial workers, and 2.5% from agriculture. Some of the most common agricultural products are sugarcane, bananas, rice, oranges, oil palm fruit, plantains, chicken, milk, pineapples, and maize. Some of the industrial jobs mentioned earlier include construction, brewing, cement and other construction materials, and sugar milling. There were 2.107 million people in the labor force in 2023, and 6.7% of the population were unemployed as of 2023. Over 20% of the population was in poverty in 2021. In 2023, Panama exported over 36 billion dollars total, and imported the same amount. The main partners for trade are China, with 20%, US with 20%, Guyana with 11%, Colombia with 11%, and Ecuador at 9%. Most of what they import are products which they do not make, or need a lot of. Some examples are crude petroleum, refined petroleum, ships, garments, and packaged medicine. Overall, Panama is a average middle-class Central American country with a average economy, and about â…• of the population in poverty.