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2022
Flag → Flag
Exports $873MRnk 52 / 223
2022
Flag → Flag
Top Product $467MRefined Petroleum
2022
Flag → Flag
Exports $14.7MRnk 43 / 153
2022
Flag → Flag
Top Product $9.56MScrap Aluminium
2022
Flag
Economic Complexity (ECI) ECI 0.36Rnk 49 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.17Rnk 56 / 133
2022
Flag  
GDP$1.92TCURRENT US$
Rnk 11 / 186
2012-2022
Flag
GDP GROWTH-22.1%CURRENT US$
Rnk 180 / 186
2022
Flag
 GDP$76.5BCURRENT US$
Rnk 74 / 186
2012-2022
Flag
GDP GROWTH89.3%CURRENT US$
Rnk 19 / 186
2022
Flag
GDP PC $8,918CURRENT US$
Rnk 82 / 186
2012-2022
Flag
GDP PC GROWTH-27.7%CURRENT US$
Rnk 177 / 186
2022
Flag
GDP PC$17,358CURRENT US$
Rnk 59 / 186
2012-2022
Flag
GDP PC GROWTH61.2%CURRENT US$
Rnk 26 / 186

About

Brazil-Panama Trade: In 2022, Brazil exported $873M to Panama. The main products that Brazil exported to Panama were Refined Petroleum ($467M), Corn ($57.8M), and Cars ($43.2M). Over the past 5 years the exports of Brazil to Panama have increased at an annualized rate of 6.62%, from $633M in 2017 to $873M in 2022.

In 2022, Brazil did not export any services to Panama.

Panama-Brazil Trade: In 2022, Panama exported $14.7M to Brazil. The main products that Panama exported to Brazil were Scrap Aluminium ($9.56M), Steel Ingots ($1.74M), and Diamonds ($556k). Over the past 5 years the exports of Panama to Brazil have decreased at an annualized rate of 20.2%,  from $45.4M in 2017 to $14.7M in 2022.

In 2022, Panama did not export any services to Brazil.

Comparison: In 2022,  Brazil ranked 49 in the Economic Complexity Index (ECI 0.36), and 25 in total exports ($341B). That same year, Panama ranked 56 in the Economic Complexity Index (ECI 0.17), and 119 in total exports ($6.62B).

Latest Trends

October, 2024

About

Overview In October 2024, Brazil exported $54M and imported $990k from Panama, resulting in a positive trade balance of $53M. Between October 2023 and October 2024 the exports of Brazil have decreased by $-25.5M (-32.1%) from $79.5M to $54M, while imports decreased by $-865k (-46.6%) from $1.86M to $990k.

Trade In October 2024, the top exports of Brazil to Panama were Refined Petroleum ($28.1M), Corn ($10.1M), Stone Processing Machines ($2.63M), Cars ($2.63M), and Large Construction Vehicles ($1.47M). In October 2024 the top imports of Brazil from Panama were Scrap Aluminium ($762k), Pharmaceutical Animal Products ($66.3k), Compasses ($49.9k), Electrical Power Accessories ($23.3k), and Computers ($11.5k).

Origins In October 2024 the exports of Brazil were mainly from São Paulo ($26.2M), Rio Grande do Sul ($6.88M), Paraná ($6.11M), Rio de Janeiro ($4.16M), and Bahia ($3.12M), while imports destinations were mainly São Paulo ($955k), Pernambuco ($16.2k), Amazonas ($10.1k), and Minas Gerais ($8.49k).

Growth In October 2024, the decrease in Brazil's year-by-year exports to Panama was explained primarily by an decrease in product exports in Industrial Printers ($-792k or -71.8%), Special Pharmaceuticals ($-709k or -54.4%), and Electrical Control Boards ($-300k or -96.1%). In October 2024, the decrease in Brazil's year-by-year imports  from Panama was explained primarily by an decrease in product imports  in Scrap Aluminium ($-323k or -29.8%) and Ball Bearings ($-842 or -44.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)$-25.5M(-32.1%)
IMPORT GROWTH (October 2023 - October 2024)$-865k(-46.6%)
MAIN EXPORTER (October 2024)São Paulo$26.2M

This section shows exports and imports data at subnational level for Brazil. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Brazil over time.

To check Panama and Brazil trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Panama and Brazil Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Brazil exported $873M to Panama. The main products exported from Brazil to Panama were Refined Petroleum ($467M), Corn ($57.8M), and Cars ($43.2M). During the last 5 years the exports of Brazil to Panama have increased at an annualized rate of 6.62%, from $633M in 2017 to $873M in 2022.

In 2017, Panama exported $14.7M to Brazil. The main products exported from Panama to Brazil were Scrap Aluminium ($9.56M), Steel Ingots ($1.74M), and Diamonds ($556k). During the last 5 years the exports of Panama to Brazil have decreased at an annualized rate of 20.2%, from $45.4M in 2022 to $14.7M in 2017.

Exports from Brazil (Flag) to Panama (Flag) (2022)

Exports from Panama (Flag) to Brazil (Flag) (2022)

Market Competitiveness

Color
Brazil
Top DestinationChina$90.1B
Panama
Top DestinationChina$1.14B

This map shows whether countries import more from Brazil or Panama. Each country is colored based on the difference in imports they receive from Brazil and Panama or the difference in the growth in imports.

In 2022, countries that imported more from Brazil than Panama included China ($90.1B), United States ($36.6B), and Argentina ($15.4B).

In 2022, countries that imported more from Panama than Brazil included Barbados ($45.1M), British Indian Ocean Territory ($653k), and Andorra ($852k).

Difference in imports from Panama (Flag) and Brazil (Flag) (2022)

Comparative Advantage Brazil - Panama

Flow
Scale

This chart compares trade between Brazil and Panama by product, considering products traded by both, Brazil and Panama.

During 2022, Brazil had a large net trade with Panama in the exports of Mineral Products ($467M), Machines ($85.5M), and Vegetable Products ($67.1M).

During 2017, Panama had a large net trade with Brazil in the exports of Metals ($11.4M), Machines ($906k), and Precious Metals ($557k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Brazil Panama+$11.5MCars
Top Product Potential Panama Brazil+$346kMedical Instruments

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Brazil and Panama. This means that a dot/product with the flag of Brazil indicates it has a comparative advantage over Panama. Similarly, a dot/product with the flag of Panama indicates it has a comparative advantage over Brazil.

Product Space of Brazil (Flag) and Panama (Flag) (2022)

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