BMI View: Panama has a strategic location benefitting trade between South and North America, making ita key transport hub and ensuring growth of all freight modes. The recent expansion of the canal is givingPanama the opportunity to become an important manufacturing and transport hub, which will also have apositive impact on its economic development in the future. The strengthening of trade links between thePacific and Atlantic is also having a positive effect on Panama's industrial development, in which transportinfrastructure will play an important part.
Panama has one of the fastest growing economies in Latin America, and its current growth will highlightthe need and commitment for further investment in its infrastructure. The freight industry will need toincrease its capacity and efficiency in order for the country to capitalise on the opportunities in the region.
Aviation is an will continue to be a cornerstone in Panama's growth story, with Copa Airlines representingover 4% of Panama GDP. Panama's dollar-based economy will continue to rest primarily on its welldevelopedservices sector that accounts for more than three quarters of GDP. They include operating thePanama Canal, logistics and the Colon Free Zone. Current economic growth will be bolstered by the canalexpansion project which is estimated to be completed by 2016.
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