During standard time, yes! Both cities are at UTC-5. When it's 12:00 PM in New York (EST), it's also 12:00 PM in Panama City. However, during daylight saving time, New York is 1 hour ahead.
Panama does not observe daylight saving time, so during US DST (March-November), New York is 1 hour ahead of Panama City.
Great overlap! Business hours align well, especially during EST. During EDT, just remember that 9:00 AM - 5:00 PM New York is 8:00 AM - 4:00 PM in Panama City.
Panama City is a major financial center and gateway to the Panama Canal. Many US companies have operations there, and Copa Airlines provides extensive connectivity throughout the Americas.