NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Flag → Flag
Exports $949MRnk 51 / 221
2023
Flag → Flag
Top Product $369MRefined Petroleum
2023
Flag → Flag
Exports $14.4MRnk 42 / 146
2023
Flag → Flag
Top Product $7.64MScrap Aluminium
2023
Flag
Economic Complexity (ECI) ECI 0.31Rnk 49 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.14Rnk 69 / 132
2023
Flag  
GDP$2.17TCURRENT US$
Rnk 9 / 195
2013-2023
Flag
GDP GROWTH-12.1%CURRENT US$
Rnk 184 / 195
2023
Flag
 GDP$83.3BCURRENT US$
Rnk 76 / 195
2013-2023
Flag
GDP GROWTH77.5%CURRENT US$
Rnk 32 / 195
2023
Flag
GDP PC $10,295CURRENT US$
Rnk 89 / 195
2013-2023
Flag
GDP PC GROWTH-17.4%CURRENT US$
Rnk 175 / 195
2023
Flag
GDP PC$18,686CURRENT US$
Rnk 65 / 196
2013-2023
Flag
GDP PC GROWTH52.3%CURRENT US$
Rnk 43 / 195

About

Brazil-Panama Trade: In 2023, Brazil exported $949M to Panama. The main products that Brazil exported to Panama were Refined Petroleum ($369M), Crude Petroleum ($180M), and Corn ($48.6M). Over the past 5 years the exports of Brazil to Panama have increased at an annualized rate of 9.36%, from $607M in 2018 to $949M in 2023.

In 2023, Brazil did not export any services to Panama.

Panama-Brazil Trade: In 2023, Panama exported $14.4M to Brazil. The main products that Panama exported to Brazil were Scrap Aluminium ($7.64M), Scrap Copper ($1.24M), and Hand-Woven Rugs ($639k). Over the past 5 years the exports of Panama to Brazil have decreased at an annualized rate of 24%,  from $56.8M in 2018 to $14.4M in 2023.

In 2023, Panama did not export any services to Brazil.

Comparison: In 2023,  Brazil ranked 49 in the Economic Complexity Index (ECI 0.31), and 22 in total exports ($355B). That same year, Panama ranked 69 in the Economic Complexity Index (ECI -0.14), and 121 in total exports ($6.59B).

Latest Trends

December, 2024

About

Overview In December 2024, Brazil exported $91.5M and imported $1.03M from Panama, resulting in a positive trade balance of $90.5M. Between December 2023 and December 2024 the exports of Brazil have decreased by $-12.7M (-12.2%) from $104M to $91.5M, while imports decreased by $-125k (-10.8%) from $1.16M to $1.03M.

Trade In December 2024, the top exports of Brazil to Panama were Refined Petroleum ($57.8M), Computers ($3.96M), Corn ($2.18M), Hair Products ($1.26M), and Washing and Bottling Machines ($1.23M). In December 2024 the top imports of Brazil from Panama were Scrap Aluminium ($457k), Scrap Copper ($314k), Broadcasting Equipment ($150k), Hand-Woven Rugs ($102k), and Tufted Carpets ($50.1k).

Origins In December 2024 the exports of Brazil were mainly from São Paulo ($21.9M), Rio de Janeiro ($8.46M), Rio Grande do Sul ($6.15M), Paraná ($5.03M), and Santa Catarina ($2.77M), while imports destinations were mainly São Paulo ($762k), Pernambuco ($231k), Santa Catarina ($17.6k), Paraná ($11.3k), and Rio de Janeiro ($6.17k).

Growth In December 2024, the decrease in Brazil's year-by-year exports to Panama was explained primarily by an decrease in product exports in Corn ($-7.95M or -78.5%), Stone Processing Machines ($-2.53M or -95.9%), and Cars ($-1.92M or -72.9%). In December 2024, the decrease in Brazil's year-by-year imports  from Panama was explained primarily by an decrease in product imports  in Scrap Aluminium ($-305k or -40.1%) and Compasses ($-34.6k or -69.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-12.7M(-12.2%)
IMPORT GROWTH (December 2023 - December 2024)$-125k(-10.8%)
MAIN EXPORTER (December 2024)São Paulo$21.9M

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

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Brazil exported $949M to Panama. The main products exported from Brazil to Panama were Refined Petroleum ($369M), Crude Petroleum ($180M), and Corn ($48.6M). During the last 5 years the exports of Brazil to Panama have increased at an annualized rate of 9.36%, from $607M in 2018 to $949M in 2023.

In 2018, Panama exported $14.4M to Brazil. The main products exported from Panama to Brazil were Scrap Aluminium ($7.64M), Scrap Copper ($1.24M), and Hand-Woven Rugs ($639k). During the last 5 years the exports of Panama to Brazil have decreased at an annualized rate of 24%, from $56.8M in 2023 to $14.4M in 2018.

Exports from Brazil (Flag) to Panama (Flag) (2023)

Exports from Panama (Flag) to Brazil (Flag) (2023)

Market Competitiveness

Color
Brazil
Top DestinationChina$106B
Panama
Top DestinationChina$1.62B

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 2023, countries that imported more from Brazil than Panama included China ($106B), United States ($37B), and Argentina ($17.2B).

In 2023, countries that imported more from Panama than Brazil included Gabon ($121M), Barbados ($48.4M), and British Indian Ocean Territory ($1.53M).

Difference in imports from Panama (Flag) and Brazil (Flag) (2023)

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 2023, Brazil had a large net trade with Panama in the exports of Mineral Products ($549M), Machines ($101M), and Vegetable Products ($70.4M).

During 2018, Panama had a large net trade with Brazil in the exports of Metals ($8.95M), Machines ($1.83M), and Textiles ($1.02M).

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

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) (2023)

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms