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A major driver of GDP growth over the past decade, the construction sector generated more than $2.5bn in 2013, accounting for around 9% of GDP, a year-on-year (y-o-y) increase of 30%, according to the Panamanian Chamber of Construction. Public infrastructure works are leading this surge, but the private sector is also playing a significant role through residential and commercial developments. The...

Double-digit GDP growth for four of the past seven years, moderate inflation and high employment have had a positive impact on Panama’s retail sector. According to the National Institute of Statistics and Census, retail revenues increased 19.1% between 2011 and 2012, outpacing those of other service segments, and attracting growing interest from potential foreign entrants, particularly from the...

Growing at double-digit rates in each of the past five years apart from 2009, the transportation and logistics sector contributed 24.1% to GDP in 2012 and is identified as one of four pillars of economic growth in the Strategic Economic Plan 2010-14. To secure the future of the sector the administration is investing $9.6bn, equivalent to 70% of public sector investment, from 2010 to 2014 in...

Following the heavy investment in infrastructure projects of the past few years, the insurance sector has enjoyed a prosperous period. The industry is estimated to be managing assets of around $1.9bn, of which investments comprise $1.3bn, or 70% of the total. As a result of Law 12 of 2012 a new legal framework was created to regulate the sector, bringing it more in line with international...

High economic growth over the past few years has benefitted Panama’s banking sector, which has shown a strong and stable performance. From the third quarter of 2012 to the same period in 2013 there was a 12% increase in total assets, with liquid assets registering the highest growth, at 22%. Assets, deposits and credit continue to grow, although profitability indicators are showing signs of...

At $5.25bn, the Panama Canal expansion project is the largest single investment in the country’s history. The annual contribution of canal tolls to the national treasury has more than quadrupled from $201m in 2000 to $981.8m in 2013. The new set of locks will accommodate post-Panama ships, which can carry up to 13,000 twenty-foot equivalent units (TEUs), compared to the current maximum of 5000...