Brazil (BRA) and Panama (PAN) Trade | The Observatory of Economic Complexity

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Brazil (BRA) and Panama (PAN) Trade

2022

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Exports $873MRnk 52 / 223

2022

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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 10.6%, 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

September, 2024

About

Overview In September 2024, Brazil exported $61.9M and imported $1.95M from Panama, resulting in a positive trade balance of $60M. Between September 2023 and September 2024 the exports of Brazil have increased by $13.6M (28.1%) from $48.4M to $61.9M, while imports decreased by $-194k (-9.02%) from $2.15M to $1.95M.

Trade In September 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 September 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 September 2024 the exports of Brazil were mainly from São Paulo ($33.8M), Rio de Janeiro ($4.83M), Rio Grande do Sul ($4.81M), Paraná ($4.53M), and Santa Catarina ($3.45M), while imports destinations were mainly São Paulo ($1.37M), Santa Catarina ($332k), Pernambuco ($203k), Alagoas ($22.4k), and Minas Gerais ($14.3k).

Growth In September 2024, the increase in Brazil's year-by-year exports to Panama was explained primarily by an increase in product exports in Corn ($10.1M or 4.12M%), Stone Processing Machines ($2.27M or 630%), and Textile Footwear ($1.37M or 63.7k%). In September 2024, the decrease in Brazil's year-by-year imports from Panama was explained primarily by an decrease in product imports in Scrap Aluminium ($-323k or -29.8%) and Ball Bearings ($-842 or -44.9%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (September 2023 - September 2024)$13.6M(28.1%)

IMPORT GROWTH (September 2023 - September 2024)$-194k(-9.02%)

MAIN EXPORTER (September 2024)São Paulo$33.8M

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.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

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 10.6%, from $45.4M in 2022 to $14.7M in 2017.

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

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

Market Competitiveness

Color

Exports

Export Growth

Section

Year

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 () and Brazil () (2022)

Comparative Advantage Brazil - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

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

Year

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 () and Panama () (2022)

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