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Compare Faroe Islands (2004) - Panama (2008)

Compare Faroe Islands (2004) z Panama (2008)

 Faroe Islands (2004)Panama (2008)
 Faroe IslandsPanama
Administrative divisions none (part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark); there are no first-order administrative divisions as defined by the US Government, but there are 49 municipalities 9 provinces (provincias, singular - provincia) and 1 territory* (comarca); Bocas del Toro, Chiriqui, Cocle, Colon, Darien, Herrera, Los Santos, Panama, San Blas*(Kuna Yala), and Veraguas
Age structure 0-14 years: 21.6% (male 5,056; female 5,041)


15-64 years: 64.6% (male 15,975; female 14,187)


65 years and over: 13.7% (male 2,877; female 3,526) (2004 est.)
0-14 years: 30% (male 496,195/female 476,508)


15-64 years: 63.6% (male 1,044,139/female 1,016,805)


65 years and over: 6.4% (male 97,365/female 111,161) (2007 est.)
Agriculture - products milk, potatoes, vegetables; sheep; salmon, other fish bananas, rice, corn, coffee, sugarcane, vegetables; livestock; shrimp
Airports 1 (2003 est.) 116 (2007)
Airports - with paved runways total: 1


914 to 1,523 m: 1 (2004 est.)
total: 54


over 3,047 m: 1


2,438 to 3,047 m: 1


1,524 to 2,437 m: 5


914 to 1,523 m: 18


under 914 m: 29 (2007)
Airports - with unpaved runways - total: 62


1,524 to 2,437 m: 1


914 to 1,523 m: 11


under 914 m: 50 (2007)
Area total: 1,399 sq km


land: 1,399 sq km


water: 0 sq km (some lakes and streams)
total: 78,200 sq km


land: 75,990 sq km


water: 2,210 sq km
Area - comparative eight times the size of Washington, DC slightly smaller than South Carolina
Background The population of the Faroe Islands is largely descended from Viking settlers who arrived in the 9th century. The islands have been connected politically to Denmark since the 14th century. A high degree of self-government was attained in 1948. Explored and settled by the Spanish in the 16th century, Panama broke with Spain in 1821 and joined a union of Colombia, Venezuela, and Ecuador - named the Republic of Gran Colombia. When the latter dissolved in 1830, Panama remained part of Colombia. With US backing, Panama seceded from Colombia in 1903 and promptly signed a treaty with the US allowing for the construction of a canal and US sovereignty over a strip of land on either side of the structure (the Panama Canal Zone). The Panama Canal was built by the US Army Corps of Engineers between 1904 and 1914. In 1977, an agreement was signed for the complete transfer of the Canal from the US to Panama by the end of the century. Certain portions of the Zone and increasing responsibility over the Canal were turned over in the subsequent decades. With US help, dictator Manuel NORIEGA was deposed in 1989. The entire Panama Canal, the area supporting the Canal, and remaining US military bases were transferred to Panama by the end of 1999. In October 2006, Panamanians approved an ambitious plan to expand the Canal. The project, which is to begin in 2007 and could double the Canal's capacity, is expected to be completed in 2014-15.
Birth rate 13.89 births/1,000 population (2004 est.) 21.45 births/1,000 population (2007 est.)
Budget revenues: $488 million


expenditures: $484 million, including capital expenditures of $21 million (1999)
revenues: $5.206 billion


expenditures: $5.089 billion (2007 est.)
Capital Torshavn name: Panama


geographic coordinates: 8 58 N, 79 32 W


time difference: UTC-5 (same time as Washington, DC during Standard Time)
Climate mild winters, cool summers; usually overcast; foggy, windy tropical maritime; hot, humid, cloudy; prolonged rainy season (May to January), short dry season (January to May)
Coastline 1,117 km 2,490 km
Constitution 5 June 1953 (Danish constitution) 11 October 1972; major reforms adopted 1978, 1983, 1994, and 2004
Country name conventional long form: none


conventional short form: Faroe Islands


local long form: none


local short form: Foroyar
conventional long form: Republic of Panama


conventional short form: Panama


local long form: Republica de Panama


local short form: Panama
Currency Danish krone (DKK) -
Death rate 8.68 deaths/1,000 population (2004 est.) 5.44 deaths/1,000 population (2007 est.)
Debt - external $64 million (1999) $10.56 billion (31 December 2007 est.)
Dependency status part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark since 1948 -
Diplomatic representation from the US none (self-governing overseas administrative division of Denmark) chief of mission: Ambassador William A. EATON


embassy: Edificio 783, Avenida Demetrio Basilio Lakas Panama, Apartado Postal 0816-02561, Zona 5, Panama City 5


mailing address: American Embassy Panama, Unit 0945, APO AA 34002


telephone: [507] 207-7000


FAX: [507] 227-1964
Diplomatic representation in the US none (self-governing overseas administrative division of Denmark) chief of mission: Ambassador Federico HUMBERT Arias


chancery: 2862 McGill Terrace NW, Washington, DC 20008


telephone: [1] (202) 483-1407


FAX: [1] (202) 483-8416


consulate(s) general: Atlanta, Houston, Miami, New Orleans, New York, Philadelphia, San Francisco, San Juan (Puerto Rico), Tampa
Disputes - international Faroese are considering proposals for full independence; Denmark dispute with Iceland over the Faroe Islands fisheries median line boundary of 200 nm; Denmark disputes with Iceland, the UK, and Ireland the Faroe Islands claim extending its continental shelf boundary beyond 200 nm organized illegal narcotics operations in Colombia operate within the remote border region with Panama
Economic aid - recipient $135 million (annual subsidy from Denmark) (1998) $19.54 million (2005)
Economy - overview The Faroese economy has had a strong performance since 1994, mostly as a result of increasing fish landings and high and stable export prices. Unemployment is falling and there are signs of labor shortages in several sectors. The positive economic development has helped the Faroese Home Rule Government produce increasing budget surpluses, which in turn help to reduce the large public debt, most of it owed to Denmark. However, the total dependence on fishing makes the Faroese economy extremely vulnerable, and the present fishing efforts appear in excess of what is a sustainable level of fishing in the long term. Oil finds close to the Faroese area give hope for deposits in the immediate Faroese area, which may eventually lay the basis for a more diversified economy and thus lessen dependence on Danish economic assistance. Aided by a substantial annual subsidy (15% of GDP) from Denmark, the Faroese have a standard of living not far below the Danes and other Scandinavians. Panama's dollarized economy rests primarily on a well-developed services sector that accounts for three-fourths of GDP. Services include operating the Panama Canal, banking, the Colon Free Zone, insurance, container ports, flagship registry, and tourism. Economic growth will be bolstered by the Panama Canal expansion project that began in 2007 and should be completed by 2014 at a cost of $5.3 billion (about 30% of current GDP). The expansion project will more than double the Canal's capacity, enabling it to accommodate ships that are now too large to transverse the transoceanic crossway and should help to reduce the high unemployment rate. The government has implemented tax reforms, as well as social security reforms, and backs regional trade agreements and development of tourism. Not a CAFTA signatory, Panama in December 2006 independently negotiated a free trade agreement with the US, which, when implemented, will help promote the country's economic growth.
Electricity - consumption 149.1 million kWh (2001) 4.735 billion kWh (2005)
Electricity - exports 0 kWh (2001) 51 million kWh (2005)
Electricity - imports 0 kWh (2001) 55 million kWh (2005)
Electricity - production 160.4 million kWh (2001) 5.661 billion kWh (2005)
Elevation extremes lowest point: Atlantic Ocean 0 m


highest point: Slaettaratindur 882 m
lowest point: Pacific Ocean 0 m


highest point: Volcan Baru 3,475 m
Environment - current issues NA water pollution from agricultural runoff threatens fishery resources; deforestation of tropical rain forest; land degradation and soil erosion threatens siltation of Panama Canal; air pollution in urban areas; mining threatens natural resources
Environment - international agreements - party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands, Whaling


signed, but not ratified: Marine Life Conservation
Ethnic groups Scandinavian mestizo (mixed Amerindian and white) 70%, Amerindian and mixed (West Indian) 14%, white 10%, Amerindian 6%
Exchange rates Danish kroner per US dollar - 6.5877 (2003), 7.89 (2002), 8.323 (2001), 8.083 (2000), 6.976 (1999) balboas per US dollar - 1 (2007), 1 (2006), 1 (2005), 1 (2004), 1 (2003)
Executive branch chief of state: Queen MARGRETHE II of Denmark (since 14 January 1972), represented by High Commissioner Birgit KLEIS, chief administrative officer (since 1 November 2001)


head of government: Prime Minister Joannes EIDESGAARD (since 3 February 2004)


cabinet: Landsstyri appointed by the prime minister


elections: the monarch is hereditary; high commissioner appointed by the monarch; following legislative elections, the leader of the majority party or the leader of the majority coalition is usually elected prime minister by the Faroese Parliament; election last held 20 January 2004 (next to be held no later than January 2008)


election results: Joannes EIDESGAARD elected prime minister; percent of parliamentary vote - NA%


note: coalition of Social Democrats, Union Party, and People's Party
chief of state: President Martin TORRIJOS Espino (since 1 September 2004); First Vice President Samuel LEWIS Navarro (since 1 September 2004); Second Vice President Ruben AROSEMENA Valdes (since 1 September 2004); note - the president is both the chief of state and head of government


head of government: President Martin TORRIJOS Espino (since 1 September 2004); First Vice President Samuel LEWIS Navarro (since 1 September 2004); Second Vice President Ruben AROSEMENA Valdes (since 1 September 2004)


cabinet: Cabinet appointed by the president


elections: president and vice presidents elected on the same ticket by popular vote for five-year terms (eligible for two more terms); election last held 2 May 2004 (next to be held on 3 May 2009); note - beginning in 2009, Panama will have only one vice president.


election results: Martin TORRIJOS Espino elected president; percent of vote - Martin TORRIJOS Espino 47.5%, Guillermo ENDARA Galimany 30.6%, Jose Miguel ALEMAN 17%, Ricardo MARTINELLI 4.9%


note: government coalition - PRD (Democratic Revolutionary Party), PP (Popular Party)
Exports NA (2001) 4,140 bbl/day (2004)
Exports - commodities fish and fish products 94%, stamps, ships (1999) bananas, shrimp, sugar, coffee, clothing
Exports - partners Denmark 36.7%, UK 32.1%, Netherlands 6.1%, Nigeria 5.6%, Norway 5.4% (2003) US 39.8%, Spain 8.1%, Netherlands 6.7%, Sweden 5.6%, Costa Rica 4.5% (2006)
Fiscal year calendar year calendar year
Flag description white with a red cross outlined in blue extending to the edges of the flag; the vertical part of the cross is shifted toward the hoist side in the style of the Dannebrog (Danish flag) divided into four, equal rectangles; the top quadrants are white (hoist side) with a blue five-pointed star in the center and plain red; the bottom quadrants are plain blue (hoist side) and white with a red five-pointed star in the center
GDP purchasing power parity - $1 billion (2001 est.) -
GDP - composition by sector agriculture: 27%


industry: 11%


services: 62% (1999)
agriculture: 6.8%


industry: 16.2%


services: 77% (2007 est.)
GDP - per capita purchasing power parity - $22,000 (2001 est.) -
GDP - real growth rate 10% (2001 est.) 7.8% (2007 est.)
Geographic coordinates 62 00 N, 7 00 W 9 00 N, 80 00 W
Geography - note archipelago of 17 inhabited islands and one uninhabited island, and a few uninhabited islets; strategically located along important sea lanes in northeastern Atlantic; precipitous terrain limits habitation to small coastal lowlands strategic location on eastern end of isthmus forming land bridge connecting North and South America; controls Panama Canal that links North Atlantic Ocean via Caribbean Sea with North Pacific Ocean
Heliports - 2 (2007)
Highways total: 463 km


paved: 454 km


unpaved: 9 km (1999)
-
Household income or consumption by percentage share lowest 10%: NA


highest 10%: NA
lowest 10%: 0.7%


highest 10%: 43% (2003)
Illicit drugs - major cocaine transshipment point and primary money-laundering center for narcotics revenue; money-laundering activity is especially heavy in the Colon Free Zone; offshore financial center; negligible signs of coca cultivation; monitoring of financial transactions is improving; official corruption remains a major problem
Imports NA (2001) 92,170 bbl/day (2004)
Imports - commodities machinery and transport equipment 29%, consumer goods 36%, raw materials and semi-manufactures 32%, fuels, fish and salt (1999) capital goods, foodstuffs, consumer goods, chemicals
Imports - partners Denmark 52.7%, Norway 22.5%, Iceland 4.7%, Germany 4.2%, UK 4% (2003) US 27%, Netherlands Antilles 10.1%, Costa Rica 5.1%, Japan 4.7% (2006)
Independence none (part of the Kingdom of Denmark; self-governing overseas administrative division of Denmark) 3 November 1903 (from Colombia; became independent from Spain 28 November 1821)
Industrial production growth rate 8% (1999 est.) 7.8% (2007 est.)
Industries fishing, fish processing, shipbuilding, construction, handicrafts construction, brewing, cement and other construction materials, sugar milling
Infant mortality rate total: 6.38 deaths/1,000 live births


male: 7.72 deaths/1,000 live births


female: 5.03 deaths/1,000 live births (2004 est.)
total: 15.96 deaths/1,000 live births


male: 17.33 deaths/1,000 live births


female: 14.54 deaths/1,000 live births (2007 est.)
Inflation rate (consumer prices) 5.1% (1999) 5.1% (2007 est.)
International organization participation IMO (associate), NC, NIB, UPU BCIE, CAN (observer), CSN (observer), FAO, G-77, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, LAES, LAIA (observer), MIGA, NAM, OAS, OPANAL, OPCW, PCA, RG, UN, UN Security Council (temporary), UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO
Irrigated land 0 sq km (1998 est.) 430 sq km (2003)
Judicial branch none Supreme Court of Justice or Corte Suprema de Justicia (nine judges appointed for 10-year terms); five superior courts; three courts of appeal
Labor force 24,250 (October 2000) 1.471 million


note: shortage of skilled labor, but an oversupply of unskilled labor (2007 est.)
Labor force - by occupation fishing, fish processing, and manufacturing 33%, construction and private services 33%, public services 34% agriculture: 15%


industry: 18%


services: 67% (2006 est.)
Land boundaries 0 km total: 555 km


border countries: Colombia 225 km, Costa Rica 330 km
Land use arable land: 2.14%


permanent crops: 0%


other: 97.86% (2001)
arable land: 7.26%


permanent crops: 1.95%


other: 90.79% (2005)
Languages Faroese (derived from Old Norse), Danish Spanish (official), English 14%; note - many Panamanians bilingual
Legal system Danish based on civil law system; judicial review of legislative acts in the Supreme Court of Justice; accepts compulsory ICJ jurisdiction with reservations
Legislative branch unicameral Faroese Parliament or Logting (32 seats; members are elected by popular vote on a proportional basis from the seven constituencies to serve four-year terms)


elections: last held 20 January 2004 (next to be held no later than January 2008)


election results: percent of vote by party - Union Party 23.7%, Social Democrats 21.8%, Republican Party 21.7%, People's Party 20.6%, Center Party 5.2%, Independence Party 4.6%; seats by party - Union Party 7, Social Democrats 7, Republican Party 8, People's Party 7, Center Party 2, Independence Party 1


note: election of 2 seats to the Danish Parliament was last held on 20 November 2001 (next to be held 8 February 2005); results - percent of vote by party - NA; seats by party - Republican Party 1, Union Party 1
unicameral National Assembly or Asamblea Nacional (78 seats; members are elected by popular vote to serve five-year terms); note - in 2009, the number of seats will change to 71


elections: last held 2 May 2004 (next to be held 3 May 2009)


election results: percent of vote by party - NA; seats by party - PRD 41, PA 17, PS 9, MOLIRENA 4, CD 3, PLN 3, PP 1


note: legislators from outlying rural districts are chosen on a plurality basis while districts located in more populous towns and cities elect multiple legislators by means of a proportion-based formula
Life expectancy at birth total population: 79.05 years


male: 75.6 years


female: 82.51 years (2004 est.)
total population: 75.19 years


male: 72.69 years


female: 77.8 years (2007 est.)
Literacy definition: NA


total population: NA


male: NA


female: NA


note: probably the same as Denmark proper
definition: age 15 and over can read and write


total population: 91.9%


male: 92.5%


female: 91.2% (2000 census)
Location Northern Europe, island group between the Norwegian Sea and the North Atlantic Ocean, about one-half of the way from Iceland to Norway Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica
Map references Europe Central America and the Caribbean
Maritime claims territorial sea: 3 nm


continental shelf: 200 nm or agreed boundaries or median line


exclusive fishing zone: 200 nm or agreed boundaries or median line
territorial sea: 12 nm


contiguous zone: 24 nm


exclusive economic zone: 200 nm or edge of continental margin
Merchant marine total: 7 ships (1,000 GRT or over) 24,051 GRT/11,998 DWT


by type: cargo 3, container 1, petroleum tanker 1, roll on/roll off 1, short-sea/passenger 1


foreign-owned: Denmark 2, Norway 1, United Kingdom 1


registered in other countries: 1 (2004 est.)
total: 5,764 ships (1000 GRT or over) 159,649,801 GRT/240,190,316 DWT


by type: barge carrier 2, bulk carrier 1,940, cargo 1,034, carrier 3, chemical tanker 507, combination ore/oil 6, container 710, liquefied gas 191, livestock carrier 7, passenger 46, passenger/cargo 72, petroleum tanker 522, refrigerated cargo 288, roll on/roll off 129, specialized tanker 22, vehicle carrier 285


foreign-owned: 4,949 (Albania 1, Argentina 8, Australia 4, Bahamas 2, Bangladesh 1, Belgium 11, Bulgaria 1, Canada 17, Chile 8, China 473, Colombia 4, Croatia 6, Cuba 11, Cyprus 15, Denmark 32, Dominican Republic 1, Ecuador 2, Egypt 13, Estonia 3, France 15, Gabon 1, Germany 38, Greece 505, Hong Kong 137, India 25, Indonesia 37, Iran 4, Ireland 1, Israel 2, Italy 10, Jamaica 1, Japan 2,151, Jordan 11, South Korea 316, Kuwait 1, Latvia 5, Lebanon 3, Lithuania 5, Malaysia 14, Maldives 1, Malta 2, Mexico 4, Monaco 11, Netherlands 14, Nigeria 6, Norway 60, Oman 1, Pakistan 5, Peru 15, Philippines 12, Poland 15, Portugal 9, Qatar 1, Romania 8, Russia 9, Saudi Arabia 14, Singapore 83, Spain 61, Sri Lanka 3, Sweden 9, Switzerland 26, Syria 24, Taiwan 306, Thailand 10, Turkey 53, Turks and Caicos Islands 1, Ukraine 8, UAE 108, UK 35, US 115, Venezuela 10, Vietnam 10, Yemen 5)


registered in other countries: 1 (Venezuela 1) (2007)
Military - note defense is the responsibility of Denmark on 10 February 1990, the government of then President ENDARA abolished Panama's military and reformed the security apparatus by creating the Panamanian Public Forces; in October 1994, Panama's Legislative Assembly approved a constitutional amendment prohibiting the creation of a standing military force, but allowing the temporary establishment of special police units to counter acts of "external aggression"
Military branches no regular military forces an amendment to the Constitution abolished the armed forces, but there are security forces (Panamanian Public Forces or PPF includes the Panamanian National Police, National Maritime Service, and National Air Service)
Military expenditures - dollar figure NA -
Military expenditures - percent of GDP NA 1% (2006)
National holiday Olaifest, 29 July Independence Day, 3 November (1903)
Nationality noun: Faroese (singular and plural)


adjective: Faroese
noun: Panamanian(s)


adjective: Panamanian
Natural hazards NA occasional severe storms and forest fires in the Darien area
Natural resources fish, whales, hydropower, possible oil and gas copper, mahogany forests, shrimp, hydropower
Net migration rate 1.41 migrant(s)/1,000 population (2004 est.) -0.37 migrant(s)/1,000 population (2007 est.)
Political parties and leaders Center Party [Jenis A. RANA]; Independence Party [Helena Dam a NEYSTABO]; People's Party [Anfinn KALLSBERG]; Republican Party [Hogni HOYDAL]; Social Democratic Party [Joannes EIDESGAARD]; Union Party [Lisbeth PETERSEN] Democratic Change or CD [Ricardo MARTINELLI]; Democratic Revolutionary Party or PRD [Hugo GUIRAUD]; Nationalist Republican Liberal Movement or MOLIRENA [Gisela CHUNG]; Panamenista Party or PA [Juan Carlos VARELA] (formerly the Arnulfista Party); Patriotic Union Party or PU (combination of the Liberal National Party or PLN and the Solidarity Party or PS)[Jose Raul MULINO and Anibal GALINDO]; Popular Party or PP [Rene ORILLAC] (formerly Christian Democratic Party or PDC)
Political pressure groups and leaders NA Chamber of Commerce; National Civic Crusade; National Council of Organized Workers or CONATO; National Council of Private Enterprise or CONEP; National Union of Construction and Similar Workers (SUNTRACS); Panamanian Association of Business Executives or APEDE; Panamanian Industrialists Society or SIP; Workers Confederation of the Republic of Panama or CTRP
Population 46,662 (July 2004 est.) 3,242,173 (July 2007 est.)
Population below poverty line NA 37% (1999 est.)
Population growth rate 0.66% (2004 est.) 1.564% (2007 est.)
Ports and harbors Torshavn, Klaksvik, Tvoroyri, Runavik, Fuglafjordhur -
Radio broadcast stations AM 1, FM 13, shortwave 0 (1998) AM 101, FM 134, shortwave 0 (1998)
Railways - total: 355 km


standard gauge: 77 km 1.435-m gauge


narrow gauge: 278 km 0.914-m gauge (2006)
Religions Evangelical Lutheran Roman Catholic 85%, Protestant 15%
Sex ratio at birth: 1 male(s)/female


under 15 years: 1 male(s)/female


15-64 years: 1.13 male(s)/female


65 years and over: 0.82 male(s)/female


total population: 1.05 male(s)/female (2004 est.)
at birth: 1.05 male(s)/female


under 15 years: 1.041 male(s)/female


15-64 years: 1.027 male(s)/female


65 years and over: 0.876 male(s)/female


total population: 1.021 male(s)/female (2007 est.)
Suffrage 18 years of age; universal 18 years of age; universal and compulsory
Telephone system general assessment: good international communications; good domestic facilities


domestic: digitalization was completed in 1998; both NMT (analog) and GSM (digital) mobile telephone systems are installed


international: country code - 298; satellite earth stations - 1 Orion; 1 fiber-optic submarine cable to the Shetland Islands, linking the Faroe Islands with Denmark and Iceland; fiber-optic submarine cable connection to Canada-Europe cable
general assessment: domestic and international facilities well developed


domestic: combined fixed-line and mobile-cellular telephone density is approaching 70 telephones per 100 persons


international: country code - 507; landing point for the Americas Region Caribbean Ring System (ARCOS-1), the MAYA-1, and PAN-AM submarine cable systems that together provide links to the US, and parts of the Caribbean, Central America, and South America; satellite earth stations - 2 Intelsat (Atlantic Ocean); connected to the Central American Microwave System
Telephones - main lines in use 23,000 (2002) 432,900 (2006)
Telephones - mobile cellular 30,700 (2002) 1.694 million (2005)
Television broadcast stations 3 (plus 43 low-power repeaters) (September 1995) 38 (including repeaters) (1998)
Terrain rugged, rocky, some low peaks; cliffs along most of coast interior mostly steep, rugged mountains and dissected, upland plains; coastal areas largely plains and rolling hills
Total fertility rate 2.22 children born/woman (2004 est.) 2.66 children born/woman (2007 est.)
Unemployment rate 1% (October 2000) 7.2% (2007 est.)
Waterways - 800 km (includes 82 km Panama Canal) (2007)
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