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Panama: Trade Statistics

Exporter Rank

103 / 138

Importer Rank

83 / 138

Trade Balance Rank

107 / 138

Total Trade [1]

Total Exports (2021) $3,781,922,651
Total Imports (2021) $13,312,799,623
Trade Balance (2021) ($9,530,876,972)
Exports of goods and services (% of GDP) (2021) [2] 51.06%
Imports of goods and services (% of GDP) (2021) [2] 41.63%

Trade Partners [1]

Export Partners

Top 10 Export Countries

Country Export USD$
China $1,199,247,558
Japan $497,323,111
South Korea $386,706,817
Spain $328,220,306
India $191,550,008
Germany $183,785,693
United States $151,333,162
Netherlands $134,753,419
Bulgaria $117,085,274
Brazil $90,241,838

Import Partners

Top 10 Import Countries

Country Import USD$
United States $3,395,263,358
China $1,578,194,528
Mexico $649,675,675
Costa Rica $536,725,286
Colombia $426,697,293
Spain $275,197,212
Guatemala $273,787,038
Japan $237,622,541
Brazil $229,158,792
Germany $213,842,983

Traded Goods [1] (at the 2-digit HS Code level)

Top 10 Export Goods

HS Code Export USD$
(26) Ores $2,930,783,339
(08) Fruit & Nuts $195,011,162
(03) Seafood $102,563,740
(15) Fats & Oils $61,428,106
(72) Iron & Steel $53,855,178
(44) Wood $50,574,231
(02) Meat $46,657,770
(30) Pharmaceuticals $34,660,428
(76) Aluminum $32,237,409
(23) Animal Feeds $27,424,683

Top 10 Import Goods

HS Code Import USD$
(27) Oil & Mineral Fuels $2,203,752,469
(84) Industrial Machinery $1,196,114,648
(87) Motor Vehicles & Parts $958,634,839
(85) Electrical Machinery $910,161,839
(30) Pharmaceuticals $774,288,764
(39) Plastics $522,844,742
(73) Iron & Steel Articles $360,070,132
(62) Apparel: Non Knit $310,922,264
(38) Chemical Products $291,555,708
(21) Prepared Foods $281,549,393

Sources:

  1. UN Comtrade (2021) except where stated otherwise.
  2. The World Bank. Accessed: 10/8/2023
Panama