Panama is 3.6 times larger than Israel.
Area: 20,770 km2 World Factbook
Population: 7,821,850 (July 2014) World Factbook
Israel, officially the State of Israel, is a country in the Middle East, situated in the region of Western Asia, on the south-eastern shore of the Mediterranean Sea. Wikipedia
Area: 75,420 km2 World Factbook
Population: 3,608,431 (July 2014) World Factbook
Panama, officially the Republic of Panama, is the southernmost country of Central America and the whole of North America. Wikipedia