Population... 1990: 2,418,000... 1995: 2,659,000 (est.) Nearly 40% of the population of Panama lives in the metropolitan area surrounding the capital, Panama City. The following are comparisons between Panama and the U.S.: Population Growth: 1.9% (P) to 0.8% (US) Doubling Time: 37 years (P) to 89 years (US) Urban Population: 53% (P) to 75% (US) Fertility Rate: 2.9 (P) to 2.0 (US)..... # of children per woman Under Age 15: 35% (P) to 22% (US) Over Age 65: 5% (P) to 13% (US) Marriages (p/1,000): 5.2 (P) to 9.7 (US) Divorces (p/1,000): 0.66 (P) to 4.8 (US) Literacy: 88% to 97%