Panama

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What changes will local ports undergo in response to the completion of the Panama Canal expansion?

Despite slower GDP growth in 2014 – 6.5% compared to 8.4% in 2013 – Panama remains one of the fastest-growing economies in Latin America and the Caribbean, with regional counterparts averaging 5.5%. According to figures from the World Bank and the IMF, while the Panamanian economy is currently the 13th largest in the region, with a nominal GDP of $43.8bn, growth is set...

How can distribution chains in Panama enhance efficiency to reduce the cost of logistics?

The combination of Panamanians’ growing purchasing power and the presence of foreigner visitors eager to spend in upscale boutiques has contributed to the latest boom in the luxury retail sector. The tangible impact of this growth can be seen in the influx of international high-end brands and ongoing investments in the construction of luxury retail space.

Making up 18.53% of the country’s GDP at a value of $6.6bn in 2014, transport, storage and communications has historically been a pillar of Panama’s growth. The opening of the Panama Canal in 1914 and the subsequent handover of the passage from the US to local authorities at the end of 1999 has been a catalyst of the country’s economic success. Many activities related to...

Panama has a long history of transport and logistics infrastructure investment, with one of the most significant certainly being the widening of the Panama Canal. With an initial budget of $5.25bn, recurrent costs have raised the cost of the project to more than $6bn. Some estimate the grand total may reach $7bn, over 30% more than originally planned. Cost overrun claims...