2022
Flag  
GDP
$2.14TCURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP GROWTH
17%CURRENT US$
Rnk 129 / 186
2022
Flag
 GDP
$76.5BCURRENT US$
Rnk 74 / 186
2012-2022
Flag
GDP GROWTH
89.3%CURRENT US$
Rnk 19 / 186
2022
Flag
GDP PC 
$54,966CURRENT US$
Rnk 14 / 186
2012-2022
Flag
GDP PC GROWTH
4.36%CURRENT US$
Rnk 130 / 186
2022
Flag
GDP PC
$17,358CURRENT US$
Rnk 59 / 186
2012-2022
Flag
GDP PC GROWTH
61.2%CURRENT US$
Rnk 26 / 186

About

Canada-Panama Trade: In 2022, Canada exported $131M to Panama. The main products that Canada exported to Panama were Refined Petroleum ($191M), Liquid Pumps ($13.6M), and Dried Legumes ($12.4M). Over the past 5 years the exports of Canada to Panama have increased at an annualized rate of 20.1%, from $52.4M in 2017 to $131M in 2022.

In 2020, Canada exported services to Panama worth $14.9M, with Communications services ($4.47M), Financial services ($4.47M), and Computer and information services ($4.47M) being the largest in terms of value.

Panama-Canada Trade: In 2022, Panama exported $18M to Canada. The main products that Panama exported to Canada were Copper Ore ($136M), Bananas ($4.7M), and Hard Liquor ($2.69M). Over the past 5 years the exports of Panama to Canada have increased at an annualized rate of 1.98%,  from $16.3M in 2017 to $18M in 2022.

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

Comparison: In 2022,  Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B). That same year, Panama ranked 56 in the Economic Complexity Index (ECI 0.17), and 119 in total exports ($6.62B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Canada exported $131M to Panama. The main products exported from Canada to Panama were Refined Petroleum ($191M), Liquid Pumps ($13.6M), and Dried Legumes ($12.4M). During the last 5 years the exports of Canada to Panama have increased at an annualized rate of 20.1%, from $52.4M in 2017 to $131M in 2022.

In 2017, Panama exported $18M to Canada. The main products exported from Panama to Canada were Copper Ore ($136M), Bananas ($4.7M), and Hard Liquor ($2.69M). During the last 22 years the exports of Panama to Canada have increased at an annualized rate of 1.98%, from $16.3M in 1995 to $18M in 2017.

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

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

Market Competitiveness

Color
Canada
Top Destination
United States$438B
Panama
Top Destination
China$1.14B

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

In 2022, countries that imported more from Canada than Panama included United States ($438B), China ($25.4B), and Japan ($14.3B).

In 2022, countries that imported more from Panama than Canada included Bulgaria ($176M), Aruba ($43.4M), and Costa Rica ($242M).

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

Comparative Advantage Canada - Panama

Flow
Scale

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

During 2022, Canada had a large net trade with Panama in the exports of Mineral Products ($191M), Machines ($33.4M), and Foodstuffs ($16.5M).

During 2017, Panama had a large net trade with Canada in the exports of Mineral Products ($136M), Vegetable Products ($5.46M), and Foodstuffs ($3.92M).

Economic Complexity

Competitive Landscape

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

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

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