Panama is the most southern Central American country and is bordered by Costa Rica and Colombia. It gained independence from Spain in 1821.
The country’s economy significantly changed since the opening of the Panama Canal, which connects the two biggest oceans; the Atlantic Ocean and the Pacific Ocean. The canal is currently the most important passageway for maritime traffic and is accessible to the world’s largest ships. Many global shipping companies have established their business in the Central American country due to its advanced maritime infrastructure and geographical location. Consequently, the country has currently the largest ship register in the world. Canal tolls are an important source of government revenue.
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|Country Fact Sheets||Panama|