Panama is world-famous for its 48 mile canal that connects the Pacific Ocean with the Atlantic Ocean. Each year, over a million people visit the canal and can witness this engineering marvel at work. Panama is very proud to have this magnificent creation operating 365 days a year, enabling the world’s cargo to be shipped efficiently and safely to new destinations.
But Panama is much more than just the Canal. Panama is Latin America’s most stable, rapidly growing economy. We’re a 100% dollarized free market economy with a history of low inflation. Panama’s economy is centered on a well-developed services sector that accounts for nearly 80% of its GDP. Services include the Panama Canal, banking (Latin America’s most sophisticated banking system), the Colón Free Trade Zone, insurance, container ports, and flagship registry, medical and health, and other business.