2022
Flag  
GDP
$301BCURRENT US$
Rnk 45 / 186
2012-2022
Flag
GDP GROWTH
12.7%CURRENT US$
Rnk 142 / 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 
$15,356CURRENT US$
Rnk 62 / 186
2012-2022
Flag
GDP PC GROWTH
-0.33%CURRENT US$
Rnk 144 / 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

Chile-Panama Trade: In 2022, Chile exported $340M to Panama. The main products that Chile exported to Panama were Refined Petroleum ($168M), Copper Wire ($17.2M), and Fish Fillets ($12.7M). Over the past 5 years the exports of Chile to Panama have increased at an annualized rate of 5.07%, from $265M in 2017 to $340M in 2022.

In 2009, Chile exported services to Panama worth $31.9M, with Transportation ($20.6M) and Other business services ($11.3M) being the largest in terms of value.

Panama-Chile Trade: In 2022, Panama exported $85.9M to Chile. The main products that Panama exported to Chile were Refined Petroleum ($18.8M), Perfumes ($7.85M), and Hard Liquor ($6.28M). Over the past 5 years the exports of Panama to Chile have decreased at an annualized rate of 5.37%,  from $113M in 2017 to $85.9M in 2022.

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

Comparison: In 2022,  Chile ranked 74 in the Economic Complexity Index (ECI -0.18), and 44 in total exports ($99B). 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, Chile exported $340M to Panama. The main products exported from Chile to Panama were Refined Petroleum ($168M), Copper Wire ($17.2M), and Fish Fillets ($12.7M). During the last 5 years the exports of Chile to Panama have increased at an annualized rate of 5.07%, from $265M in 2017 to $340M in 2022.

In 2017, Panama exported $85.9M to Chile. The main products exported from Panama to Chile were Refined Petroleum ($18.8M), Perfumes ($7.85M), and Hard Liquor ($6.28M). During the last 5 years the exports of Panama to Chile have decreased at an annualized rate of 5.37%, from $113M in 2022 to $85.9M in 2017.

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

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

Market Competitiveness

Color
Chile
Top Destination
China$38.5B
Panama
Top Destination
China$1.14B

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

In 2022, countries that imported more from Chile than Panama included China ($38.5B), United States ($13.9B), and Japan ($7.43B).

In 2022, countries that imported more from Panama than Chile included Jamaica ($99.7M), Guyana ($49.6M), and Barbados ($45.1M).

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

Comparative Advantage Chile - Panama

Flow
Scale

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

During 2022, Chile had a large net trade with Panama in the exports of Mineral Products ($174M), Foodstuffs ($31.2M), and Metals ($30.2M).

During 2017, Panama had a large net trade with Chile in the exports of Mineral Products ($18.8M), Machines ($17.4M), and Chemical Products ($10.5M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Chile Panama+$1.72MCrude Petroleum
Top Product Potential Panama Chile+$5.82MRefined Petroleum

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 Chile and Panama. This means that a dot/product with the flag of Chile indicates it has a comparative advantage over Panama. Similarly, a dot/product with the flag of Panama indicates it has a comparative advantage over Chile.

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

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