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The Panama Canal Authority released its end of fiscal year statistics October 24, 2008. According to the press release tanker and passenger transits were up over the previous year whereas total number of ships transiting the Panama Canal and total tonnage remained nearly the same. Container shipments bound for the USA were less but this shipping volume was replaced by other destinations such as an increase in tankers carrying petroleum from Gulf Coast refineries to Chile whose natural gas supply from Argentina had been suspended. Passenger ship transits were also up by 17.6% although this greater number reflected more trips by smaller cruise ships.

Panama Canal Statistics Reported

According to its own press release on October 24, 2008, The Panama Canal Authority (ACP) announced a marginal decline in total transits and tonnage when compared to FY 07. However, the Panama Canal also experienced growth in core segments, most notably tanker and passenger transits.

Total Canal declined by 0.1 percent – from 14,721 to 14,702 transits. Tanker traffic increased by 4.8 percent – from 1,972 to 2,067 transits, mainly as a result of stronger movements of petroleum from the U.S. Gulf coast to Chile. Tanker tonnage also increased 8.6 percent.

Panama Canal Statistics and Panama Investment

When the US handed over the Panama Canal in 1999 many voiced the opinion that Panama would make a mess of Panama Canal administration. Contrary to that opinion Panama has increased efficiency and runs the canal profitably. In fact the Panama Canal Authority plans to pay over half of the over $5 Billion USD Panama Canal expansion project out of operating revenues over the next six years.

Even though container shipments through the Panama Canal to US East coast ports dropped off in the last year shipping tonnage has not. This speaks to the truly international nature of the Panama Canal.

Looking at Panama as an investment opportunity it is useful to keep the operating efficiency of the Panama Canal and the international nature of Panama in mind. Panama has had a decade of North Americans taking advantage of Panama’s easy residency requirements and low cost housing. The resultant housing boom and tropical tourism are what come to the minds of North Americans when they think about Panama. For those interested in Panama real estate and business investment there is more.

Panama sits at a crossroads of the Americas. Forty percent of Latin America bound container shipping passes through the Panama Canal. Tocumen International Airport is fast becoming the major hub airport for Latin America. Panama as well as most of Latin America’s middle class is becoming increasingly wealthy. A look at the upscale shopping malls in Panama City will tell you that it is not visiting North Americans who are driving sales.

Panama City is, in fact, a shopping destination for many well to do Latin Americans. Panama is also in investment destination for Latin Americans. Panama has the highest foreign investment per capita in Latin America and that money is not all from the USA.

So, the point is that Panama has a diverse set of economic opportunities that are driving its economy. Despite the international credit crisis Panama’s conservative banks are not in trouble and remain a safe haven for those interested in safe and private banking.

Panama is a great place for real estate investment. Businesses prosper here but doing business in a foreign country can be treacherous. Using local expertise to buy and lease property in Panama can be very profitable.

If you are interested in investigating real estate investment in Panama come to see us ABPanama where have been managing real estate portfolios for over 23 years.