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When the US relinquished its military presence in the Panama Canal Zone on December 31, 1999, few predicted the Central American nation of 3.7 million would embark upon a period of sustained economic growth. Yet since 2006, the country has achieved a cumulative growth rate of 9%, a rate that far exceeds not only that of its regional neighbors across Latin America. The expansion of the Panama Canal is only a part of the story.
This paper describes how Panama has “upped its economic game” and outlines the growth levers the country can employ to continue to experience sustainable economic growth. The paper includes sector-by-sector breakdowns of Panama’s economic opportunities in areas ranging from tourism to logistics and manufacturing.