The news of the economic miracle that is Panama appeared in the world press in July 2011, mostly because of the article published by Economist. The idea was to compare Panama to Singapore in the economic aspects. Of course the countries are passing through completely different stages of development, but as they seem so far away from each other, Panama obtain some clear signs of economic miracle which once used to be Singapore in its earlier times.
- In 2012-2013 fiscal years revenues from the Canal exceeded $2.38 billion
- The newest economic free zone Panama Pacifico, built on the former Air Force Base has been able to attract more than 120 international companies.
- Recent ratification of the Free Trade Agreement between Panama and the U.S. and Canada allowed keeping low prices on imported products.
- Recent immigration rules allow foreign professionals and graduates to successfully receive legal status and work permit in Panama.
