Panama has experienced steady population growth over the past several decades, driven by both natural increase and migration. As of 2024, the country's population is estimated to be around 4.5 million people, up from approximately 3 million in the early 2000s. This growth rate has been moderate, with annual increases averaging around 1.5% in recent years. Urbanization has played a significant role, with a large proportion of Panamanians living in cities, particularly Panama City and its metropolitan area. Additionally, Panama's status as a regional economic hub and its relative political stability have attracted immigrants from neighboring countries, further contributing to its population growth. However, like many countries, Panama is beginning to see a gradual decline in its fertility rate, which may lead to slower population growth in the coming decades.
| Year | Population | Population Density Per Square KM |
|---|---|---|
| 1950 | 892,502 | 12 |
| 1955 | 1,010,655 | 13.6 |
| 1960 | 1,147,610 | 15.4 |
| 1965 | 1,325,975 | 17.8 |
| 1970 | 1,531,038 | 20.6 |
| 1975 | 1,749,172 | 23.5 |
| 1980 | 1,959,566 | 26.4 |
| 1985 | 2,174,472 | 29.3 |
| 1990 | 2,404,576 | 32.3 |
| 1995 | 2,650,078 | 35.6 |
| 2000 | 2,917,782 | 39.2 |
| 2005 | 3,200,816 | 43.1 |
| 2010 | 3,481,393 | 46.8 |
| 2015 | 3,783,321 | 50.9 |
| 2020 | 4,210,487 | 56.6 |
| 2022 | 4,337,768 | 58.4 |
| 2023 | 4,404,108 | 59.2 |
| 2024 | 4,470,241 | 60.1 |
| 2025 | 4,536,008 | 61 |
| 2030 | 4,846,310 | 65.2 |
| 2035 | 5,123,749 | 68.9 |
| 2040 | 5,370,896 | 72.2 |
| 2045 | 5,593,457 | 75.2 |
| 2050 | 5,796,506 | 78 |
| 2055 | 5,975,566 | 80.4 |
| 2060 | 6,127,599 | 82.4 |
| 2065 | 6,252,275 | 84.1 |
| 2070 | 6,351,370 | 85.4 |
| 2075 | 6,426,446 | 86.4 |
| 2080 | 6,479,221 | 87.2 |
| 2085 | 6,512,007 | 87.6 |
| 2090 | 6,526,856 | 87.8 |
| 2095 | 6,527,025 | 87.8 |
| 2100 | 6,514,598 | 87.6 |
Data from US Census International Database