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...
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Articles & Analysis | Investments in Panama's port capacity and services are diversifying transport from The Report: Panama 2015
Articles & Analysis | Public investment in Panama focusing on logistics, mass transport and highways from The Report: Panama 2015
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...
Articles & Analysis | Panama preparing for increased competition with new projects from The Report: Panama 2015
With access to both the Atlantic and Pacific Oceans within a few kilometres of each other, Panama is one of the best-located countries for maritime activities globally. Added to its location, the Panama Canal and its expansion make it a key player in world commerce. The current container-handling capacity for the Pacific side of Panama is estimated at 5m twenty-foot...
Articles & Analysis | Panama expanding cargo capacity for intermodal transport from The Report: Panama 2015
Although historically the Panama Canal has been the top revenue earner, the contribution of canal revenues as a percentage in the transport and logistics sector has been gradually declining. In 2008 income from the canal represented 46.6% of sector GDP, while in 2013 it amounted to 37%. This shows that other transport modalities, mainly land-based cargo, have increased...
Chapter | Transport & Logistics from The Report: Panama 2015
Making up 18.5% of Panama’s GDP at a value of $6.6bn in 2014, the transport, storage and communications sector has historically been a pillar of Panama’s growth. The solid performance of the transport and logistics sector, which grew more than 17% annually between 2007 and 2014, is set to continue, driven in large part by planned substantial public investment. According to the Strategic...
Despite slower GDP growth of 6.2% in 2014, according to the Ministry of Economy and Finance, Panama remains one of Latin America’s fastest growing economies, a trend set to continue in coming years with the IMF forecasting average annual growth of around 6.5% over the next five years.