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Panama

EDC Position-open all programs

EDC's Position

  • Actively pursuing business
  • Open under all programs, subject to regular approval criteria

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Country At A Glance

Flag of Panama
Map of Panama

Country Facts

Nominal GDP52.15 Billion USD
Population3.93 Million
Total Trade/GDP112.80%
CurrencyPanamanian Balboa (PAB)
Merchandise Imports from Canada138.23 Million CAD
Canadian direct investment128 Million CAD
Main importsCapital Goods, Petrol Products, Food, Beverage & Tobacco, Consumer Goods

EDC in Panama

Canadian companies assisted118
International buyers insured121
Business volume236.49 Million CAD

Business Environment

Panama is a major international logistical hub and a banking centre with over 90 banks, which has resulted in a growing number of private sector firms and international agencies establishing their regional headquarters in Panama. The economy has and will continue to benefit from a number of large infrastructure projects such as the Panama Canal expansion, the Panama City subway, road improvements, airport expansion, and also various mining projects. Panama has signed free trade agreements (FTA) with a number of countries including Canada, which came into force in April 2013. Over the medium-long term, Panama’s economy will continue to benefit from its position as a major international logistical hub, and maintain one of the highest economic growth rates in Latin America. One key challenge for it to sustain its fast economic growth and transition towards a knowledge-based economy will be to ensure a skilled labor force is present.

Key Industries

  • Construction & Infrastructure
  • Mining & Metals
  • Power

How we can support your business

Through our representation in Bogotá, Colombia, we provide on-the-ground support to Canadian companies planning on or currently doing business in Panama. Our regional representatives have developed strategic relationships with major buyers in key sectors as well as an extensive network of local contacts in the market.

  • We are well positioned to help Canadian companies through a range of financing and risk management services.
  • Learn more about our service offering.

Consult our interactive Country Risk Quarterly report.

 

Related Information

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