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Panama Canal earns $1 billion a year

Thursday, December 1, 2011

The Panama Canal swelled the country's coffers by a record $1 billion in the 2010-2011 fiscal year, bringing the total earned since control of the waterway was handed over by the United States to some $6.6 billion.

The key 80-kilometer conduit has brought in more for Panama’s's economy in the past 12 years than it did in the 85 years that it was under US administration after its inauguration in 1914.

The canal is currently undergoing a major $5.25-billion project to expand its choked capacity.

Original source: AFP