PANAMA WAS THE LEADING COUNTRY IN ECONOMIC GROWTH IN LATIN AMERICA IN 2011

January 12, 2012

Panama continued to be the leading country in Latin America with its GNP at 10.5% for 2011. Other countries following Panama included: Argentina (9.0%); Ecuador (8.0%); Peru (7.0%), and Chile (6.3%).

Compared to its neighboring Central American countries, the differences were even more impressive: Nicaragua (4.5%); Costa Rica (3.8%); Guatemala (3.3%); Honduras (3.2%), and El Salvador (1.4%).

Another outstanding event scheduled for October 21, 2014, seven years after the approval for the expansion of the Panama Canal, is that the third set of locks will be inaugurated according to estimates made by the Panama Canal Authority. Even though there were some delays in pouring concrete in the Pacific locks whose mix had to meet durability standards to last over 100 years as well as having low permeability, the expansion has moved on as expected and 32% had been completed by December.

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