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2022
Flag → Flag
Exports $614MRnk 61 / 218
2022
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Top Product $161MNitrogen Heterocyclic Compounds
2022
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Exports $306MRnk 5 / 153
2022
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Top Product $220MCopper Ore
2022
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Economic Complexity (ECI) ECI 0.8Rnk 33 / 124
2022
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Economic Complexity (ECI) ECI 0.19Rnk 51 / 124
2022
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GDP$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
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GDP GROWTH5.49%CURRENT US$
Rnk 154 / 186
2022
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 GDP$76.5BCURRENT US$
Rnk 74 / 186
2012-2022
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GDP GROWTH89.3%CURRENT US$
Rnk 19 / 186
2022
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GDP PC $29,350CURRENT US$
Rnk 40 / 186
2012-2022
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GDP PC GROWTH3.63%CURRENT US$
Rnk 132 / 186
2022
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GDP PC$17,358CURRENT US$
Rnk 59 / 186
2012-2022
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GDP PC GROWTH61.2%CURRENT US$
Rnk 26 / 186

About

Spain-Panama In 2022, Spain exported $614M to Panama. The main products that Spain exported to Panama are Nitrogen Heterocyclic Compounds ($161M), Refined Petroleum ($73M), and Packaged Medicaments ($34.5M). During the last 27 years the exports of Spain to Panama have increased at an annualized rate of 7.79%, from $81M in 1995 to $614M in 2022.

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

Panama-Spain In 2022, Panama exported $306M to Spain. The main products that Panama exported to Spain were Copper Ore ($220M), Non-fillet Frozen Fish ($33M), and Additive manufacturing machines ($14.6M). During the last 27 years the exports of Panama to Spain have increased at an annualized rate of 5.41%, from $73.7M in 1995 to $306M in 2022.

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

Comparison In 2022,  Spain ranked 33 in the Economic Complexity Index (ECI 0.8), and 20 in total exports ($394B). That same year, Panama ranked 51 in the Economic Complexity Index (ECI 0.19), and 119 in total exports ($6.62B).

Latest Trends

January, 2024

About

Overview In January 2024, Spain exported €32.5M and imported €4.29M from Panama, resulting in a positive trade balance of €28.2M. Between January 2023 and January 2024 the exports of Spain have decreased by €-124M (-79.3%) from €157M to €32.5M, while imports increased by €520k (13.8%) from €3.77M to €4.29M.

Trade In January 2024, the top exports of Spain to Panama were Nitrogen Heterocyclic Compounds (€134M), Perfumes (€3.14M), Packaged Medicaments (€1.92M), Prefabricated Buildings (€947k), and Electric Generating Sets (€807k). In January 2024 the top imports of Spain from Panama were Non-fillet Frozen Fish (€2.66M), Tropical Fruits (€469k), Scrap Copper (€261k), Scrap Iron (€62.1k), and Melons (€43.3k).

Origins In January 2024 the exports of Spain were mainly from Barcelona (€13M), Madrid (€4.14M), Pontevedra (€1.49M), A Coruña (€1.38M), and Valencia (€1.31M), while imports destinations were mainly Vizcaya (€1.44M), Pontevedra (€477k), Alicante (€439k), Barcelona (€317k), and Murcia (€300k).

Growth In January 2024, the decrease in Spain's year-by-year exports to Panama was explained primarily by an decrease in product exports in Iron Structures (€-1.61M or -84.3%), Industrial Food Preperation Machinery (€-1.24M or -97.9%), and Packaged Medicaments (€-851k or -30.7%). In January 2024, the increase in Spain's year-by-year imports  from Panama was explained primarily by an increase in product imports  in Non-fillet Frozen Fish (€2.44M or 1.1k%), Tropical Fruits (€222k or 89.7%), and Brochures (€32.5k or 1.41k%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (January 2023 - January 2024)€-124M(-79.3%)
IMPORT GROWTH (January 2023 - January 2024)€520k(13.8%)
MAIN EXPORTER (January 2024)Barcelona€13M

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

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

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Spain exported $614M to Panama. The main products exported from Spain to Panama were Nitrogen Heterocyclic Compounds ($161M), Refined Petroleum ($73M), and Packaged Medicaments ($34.5M). During the last 27 years the exports of Spain to Panama have increased at an annualized rate of 7.79%, from $81M in 1995 to $614M in 2022.

In 2022, Panama exported $306M to Spain. The main products exported from Panama to Spain were Copper Ore ($220M), Non-fillet Frozen Fish ($33M), and Additive manufacturing machines ($14.6M). During the last 27 years the exports of Panama to Spain have increased at an annualized rate of 5.41%, from $73.7M in 1995 to $306M in 2022.

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

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

Market Competitiveness

Color
Spain
Top DestinationFrance$65.2B
Panama
Top DestinationChina$1.14B

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

In 2021, countries that imported more from Spain than Panama were France ($65.2B), Germany ($39.2B), and Portugal ($34.9B).

In 2021, countries that imported more from Panama than Spain were Guyana ($49.6M), Aruba ($43.4M), and Jamaica ($99.7M).

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

Comparative Advantage Spain - Panama

Flow
Scale

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

During 2022, Spain had a large net trade with Panama in the exports of Chemical Products ($251M), Machines ($78.9M), and Mineral Products ($74.6M).

During 2022, Panama had a large net trade with Spain in the exports of Mineral Products ($220M), Animal Products ($35.5M), and Machines ($17.9M).

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Spain has comparative advantage over Panama. Similarly, the more yellow a dot/product is, the more Panama has comparative advantage over Spain.

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

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