The Panama Canal
The Panama Canal, of course is the doyen, which thrives in Panama today. The Canal provides around 15% of Panama's gross domestic product, so there is no doubt about its importance. The U.S. built Canal led to the use of the U.S. dollar because of Panama's special relationship with the USA. The Canal ports and maritime trade spawned the Colon Free Zone and encouraged the growth of the Panama Ship Registry, the largest in the world, since June 1993.
Panamá is in the middle of an ambitious US$5.3 billion plan to widen its famous canal, which will handle a new generation of giant container ships (post-panamax). The project is described as a "formidable challenge" but necessary if the canal is to retain its place as a key route for global cargo.
After the completion of the project, the canal will be even more important for the economy of the country and it is expected that by 2020 it will be responsible for more than 30% of the GDP.
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