Panama’s gross domestic product (GDP) grew on average by 6.57% a year between 1990 and 2012, twice the average growth of Latin America during the same period. The country has recovered relatively well from the financial and economic crisis of 2008, helped by the expansion of the Panama Canal and other investments in infrastructure development. In parallel, since 1990 real per capita incomes in Panama have more than doubled. Despite the progress, however, poverty and inequality persist in the country, mostly in rural areas, and unemployment is still high, especially among the young (15.6% in 2011).