"Panama will regain its crown as Latin America’s fastest growing economy this year on a surge in trade through the newly-expanded canal and government investment in other infrastructure projects" according the Panamanian finance minister in a Bloomberg interview (source). In fact GDP is expected to grow 5.8 percent in 2017, a year after the $5.3 billion expansion of the canal allowed the passage of larger ships and increased levies by 50%.
But Panama isn't just counting on the Canal to support their continuous growth. Many other infrastructure projects are also under way, including the expansion of the International Tocumen airport, the Colon Container Port mega project, the expansion of the Interamerican highway connecting Chiriqui and Santiago, the construction of a second line on Panama City’s metro system and a third bridge across the Panama Canal with plans for a fourth.
Farming and agriculture is another key component of Panama’s expansion plans. While the sector currently only makes up a small part of the country’s GDP, Panama is offering lucrative incentives to farmers and farming companies to expand agricultural productivity. These include a 0% tax rate on profits made from agriculture related activities under certain conditions.
Opening up the world
In addition, while local demand for pineapples is strong in Panama, its canal, free trade zones, international air freight/air cargo airport, ports, two coast lines and position at the center of the Americas provide all the right conditions to capitalize on the export market as well. Important in terms of export too was Panama's decision to establish formal ties with China on June 13th 2017 (source).
The MD2 pineapple variety, which we produce, has gained large popularity and acceptance in western European markets over the past years. Its attractive yellow color makes it more aesthetically pleasing than other varieties and the somewhat square-shaped form make it is easier to transport and display.
The close proximity of our Colorada Fresh Pineapples farm to the Tocumen International airport and the Canal ports means we can have fresh pineapples anywhere in the world in rapid time. Because the micro climate in La Chorrera, where our farm is located, allows us to grow and harvest all year round, this also means we can take advantage of premium pricing when pineapples are off season in another region.