About Panama
Panama, in recent years, had one of the highest growth economies in Latin America, with an average annual real GDP growth rate of 8.3% on the last five years.
According to official figures, Panama closed the year 2015 with a GDP growth of 6%, inflation of 0.2% and 3.8% of open unemployment.
Panama is a dollarized economy, with investment grade rating (Fitch Ratings, BBB Stable, Standard & Poor's, BBB Stable and Moody's, Baa2 Stable) and free flow of capital. Presents political and macroeconomic stability.
Panama has one of the most modern and successful International Banking Centers in Latin America.
Created in 1970, the International Banking Center (IBC) had on register for the year 2015 more than 90 banks and total assets in the order of US$118,478 million, an increase in total assets of 9.3% compared to the year 2014.
The country has a solid structure for international trade, such as:
- a privileged geographic position,
- a strong maritime and aerial connectivity,
- a powerful logistical center,
- a world class communication and infrastructure,
- has signed various international trade agreements, and
- an attractive legislation for the installation of multinational companies and foreign capital.
Foreign direct investment (FDI) in 2015 grew strongly reaching US$5,038 million, a historical record.
The ongoing expansion of the Panama Canal and an ambitious plan of investment in public infrastructure has leveraged the sustained growth.
The country has quality of life and safety, with attractive laws for settlement of foreign households of Latin America, Europe, USA and Canada, which find in Panama a place to live and work or retire.
