Panama covers 74,235 km² km² on the new Equal Earth world map — 0.1%% of all land on Earth, making it the 118th largest country in the world and the 9th largest in North America. At 9° latitude Mercator only inflates Panama by about 2%%, so the old and new maps largely agree on it — unlike the far north, where Mercator's stretch is dramatic.
For scale: Panama is roughly the same size as Czechia (78,487 km² km²).