The Panama Canal yielded around 4.7 billion U.S. dollars for the Panamanian economy, directly and indirectly, between 2000 and 2005, the Panama Canal Authority's accountants said in a statement Wednesday.

Direct benefits were over 2 billion dollars, of which nearly 1 billion were tolls for the use of the canal. The canal also generated contract work worth about 2 billion dollars over the same period.

Panamanian President Martin Torrijos on Monday announced a 5.25-billion-dollar plan for widening the canal by adding a third system of locks so it can handle larger ships.

The 77-km canal plays a vital role in global trade as a link between Asia and the east coast of the United States and Europe.

Source: Xinhua