Statement:
Bermuda has smaller land area than Panama

In the Country by land area rating Bermuda holds position #198 ²⁰²⁰ out of 204 and Panama is #115 out of 204 ²⁰²⁰.

Referencies:

1. Country by land area ²⁰²⁰ by World Bank

   The countries in the rating sorted by 'Land area (sq. km)' in descending order.

   Bermuda	'Land area (sq. km)' value is	54
   Panama	'Land area (sq. km)' value is	74,180