Why were panama and suez canals important to the growth of international industrialization?

Suez and Panama Canals meant from their creation were very important for international industrialization because they allowed to reduce the times and costs of transportation of merchandise and raw materials between different countries.

The Suez Canal meant an increase in commercial flow between Asia and Europe, allowing the passage of deep-sea vessels between the Mediterranean Sea and the Red Sea; and in consequence it allows to unite the Atlantic Ocean with the Indian Ocean without carrying out transshipments and avoiding the circumnavigation of the African coast for that purpose.

During the first Industrial Revolution the existence of the Suez Canal favored mainly the British allowing them to more easily access their colonies in India and Spain, facilitating access to their colonies in the Philippines, avoiding in both cases having to circumnavigate the African coast surrounding it by the South.

The Panama Canal allowed to connect by sea the western coasts of the United States and Canada, the countries of the Far East such as China, Japan and Korea, the Latin American countries with coast in the Pacific such as Chile and Peru; with the eastern coasts of the United States and Canada, the coasts of Latin American countries with coasts in the Atlantic and mainly with Europe through the Atlantic Ocean.

Both canals have been and continue to be fundamental for international trade and as a consequence they have promoted international industrialization.