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Panama is a country with a small population which is located in the continent/region of North America. Countries near Panama include Costa Rica, Nicaragua, Colombia and Honduras.
Report Abuse. Adyari is correct and the other answerers are not. Central America is not its own continent, but is considered part of North America geographically. Costa Rica, while being in Central America, is technically part of North America.The North American continent ends at either the Panama/Colombia border or the Panama Canal, depending on the convention you accept.he land mass known as North America contains all of Costa Rica (and part of Panama). Yes, it is in Central America, but North America includes EVERYTHING on the CONTINENTAL SHELF. The Continental Shelf is how various continents are decided...