Panama Canal Delivers More than $2.47 Billion to the State

The Panama Canal delivered direct contributions to the National Treasury on Wednesday for an amount of $2.47 billion for fiscal year 2024, some 74 million dollars less than what was contributed during 2023. These revenues include surpluses, fees per ton of transit and payment for services provided to the State.  Following the approval of the financial statements for the period from October 1, 2023 to September 30, 2024, the Board of Directors of the Panama Canal declared $1,952,410,439.96 as economic surplus from operations.  This amount is added to the $516,403,527.80 generated by rights per ton, as well as B/.1,971,220.22 corresponding to the rate for public services. 

The Canal’s contributions to the State during fiscal year 2023 totaled $2,544 million.  The fiscal period was marked by a water crisis, the result of a severe lack of rainfall. In July 2023, the decision was made to reduce transits to 32 vessels per day due to the extension of the dry season and the arrival at that time of the El Niño phenomenon, which extended until March 2024.  Over the following months, the waterway applied new restrictions until reaching 22 ships per day in November 2023.  Under normal conditions, the number of ships passing through the Panama Canal daily is between 35 and 36 ships.  The donations were handed over at the Cocolí locks in the province of West Panama, and were attended by the President of the Republic, José Raúl Mulino; the Minister of Canal Affairs, José Ramón Icaza; and the Minister of Economy and Finance, Felipe Chapman.