Panama debuted in 1993 and has been runner-up in 2005 and 2013 in just eight Gold Cup appearances. In 2005, Panama lost in the Finals to the United States 3-1 in a penalty shootout after a 0-0 draw. Three Panamanian players were named the Best XI of that tournament: Goalkeeper Jaime Penedo, defender Felipe Baloy and forward Luis Tejada. In 2013, Panama eliminated Mexico 2-1 in the semifinals and lost in the Final 1-0 to the U.S. on a Brek Shea goal in the 69th minute. Blas Pérez is Panama’s all-time leading scorer in Gold Cup with 11 goals.

Panama record in Gold Cup: GP- 38 W-12 D- 15 L-11 GF-53 GA-46