Panama se dělí na deset provincií (španělsky provincias). Na úrovni provincie se nacházejí tři domorodé oblasti (španělsky: comarcas indígenas, často zkracované na comarcas).
V rámci provincií existují také dvě domorodé comarcas, které jsou považovány za obdobu corregimiento (obce).
| ISO 3166-2 | Provincie | Oblast | Obyvatelstvo | Hustota | |
| PA-1 | Bocas del Toro | Bocas del Toro | 7003465720000000000♠4,657.2 | 7005125461000000000♠125,461 | 26.9 |
| PA-2 | Coclé | Penonomé | 7003494960000000000♠4,949.6 | 7005233708000000000♠233,708 | 47.2 |
| PA-3 | Colón | Colón | 7003457550000000000♠4,575.5 | 7005241928000000000♠241,928 | 52.9 |
| PA-4 | Chiriquí | David | 7003649090000000000♠6,490.9 | 7005416873000000000♠416,873 | 64.2 |
| PA-5 | Darién | La Palma | 7004118925000000000♠11,892.5 | 7004483780000000000♠48,378 | 4.1 |
| PA-6 | Herrera | Chitré | 7003236200000000000♠2,362.0 | 7005109955000000000♠109,955 | 46.6 |
| PA-7 | Los Santos | Las Tablas | 7003380940000000000♠3,809.4 | 7004895920000000000♠89,592 | 23.5 |
| PA-8 | Panama | Panama City | 7003840939999999999♠8,409.3 | 7006124903200000000♠1,249,032 | 148.5 |
| PA-9 | Veraguas | Santiago de Veraguas | 7004105875000000000♠10,587.5 | 7005226991000000000♠226,991 | 21.4 |
| PA-10 | Panamá Oeste | La Chorrera | 7003288010000000000♠2,880.1 | 7005464038000000000♠464,038 | 161.1 |
| Comarcas indígenas | |||||
| PA-EM | Emberá | Unión Chocó | 7003439390000099999♠4,393.9 | 7004100010000000000♠10,001 | 2.3 |
| PA-KY | Guna Yala | El Porvenir | 7003235820000099999♠2,358.2 | 7004331090000000000♠33,109 | 14.0 |
| PA-NB | Ngäbe-Buglé | Chichica | 7003681420000000000♠6,814.2 | 7005156747000000000♠156,747 | 23.0 |
| Comarca | Provincie | Oblast | Obyvatelstvo | Hustota |
| Kuna de Madungandí | Panama | 7003207590000000000♠2,075.9 | 7003427100000000000♠4,271 | 2.1 |
| Kuna de Wargandí | Darién | 7002956400000000000♠956.4 | 7003191400000000000♠1,914 | 2.0 |