Panama finished as runners-up in the 2005 Gold Cup and 2013 Gold Cup, losing to the United States on both occasions. Panama has also competed in the sub-regional Copa Centroamericana which they won in 2009, beating Costa Rica in the final (0–0 on full-time, 5–3 on penalties). They finished in third place on three occasions (1993, 2011, 2014), and finished as runners-up behind Honduras in the 2017 edition, which they hosted.