Economic Growth In Panama


Since its early days, the Isthmus of Panama has been a hub for commerce.  Due to the narrow strip of land it was clear that this was the shortest route to cross from one ocean to the other.  Sooner or later a canal had to be built.  The French started it, failed due to corruption and other reasons, and the United States finished it after displaying sheer determination and technological power.

Even to this day, Panama continues to depend on world commerce for its economic growth.  For the last three decades Panama has been one of the leaders of economic growth in the hemisphere.  Revenue from canal tolls continues to represent a significant part of Panama’s GDP. Panama has the second largest economy in Central America and it is also the fastest growing economy and the largest per capita consumer in Central America. In 2013, Panama ranked 5th among Latin American countries in terms of the Human Development Index, and 59th in the world.  Since 2010, Panama remains as the second most competitive economy in Latin America according to the Global Competitiveness Index from the World Economic Forum.

Below are two symbolic pictures of investment in this small country in Middle America.  The shots were taken at El Machetazo Supermarket where we buy our food every two weeks.  The place is buzzing with activity every time we drive over.

Snapshot of a new construction adjacent to El Machetazo Supermarket in the Special District of San Miguelito in Panama City, Panama. Casa Goly is a hardware store owned by El Machetazo, S.A.. Photo by Omar Upegui R.
Photo by Omar Upegui R.
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8 thoughts on “Economic Growth In Panama”

  1. I love street photography, specially when I take a shot without them knowing that a picture is being taken. This construction worker was concentrated on his paperwork completely. I liked the picture as well.

    Regards,

    Omar.-

  2. The single most important thing about the Panama Canal: Nena.
    Without the canal, no canal zone. Without the canal zone, no need for military defense. Without military defense, I would never have found my Nena in Panama.
    Thank you, Teddy Roosevelt! 🙂
    jim

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