Georgia (GEO) and Panama (PAN) Trade | The Observatory of Economic Complexity

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Georgia-Panama Trade: In 2022, Georgia exported $11.3M to Panama. The main products that Georgia exported to Panama were Nitrogenous Fertilizers ($10.4M), Other Construction Vehicles ($463k), and Excavation Machinery ($392k). Over the past 5 years the exports of Georgia to Panama have increased at an annualized rate of 41.7%, from $1.98M in 2017 to $11.3M in 2022.

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

Panama-Georgia Trade: In 2022, Panama exported $8.95k to Georgia. The main products that Panama exported to Georgia were Hard Liquor ($5.25k) and Knives ($3.69k). Over the past 5 years the exports of Panama to Georgia have decreased at an annualized rate of 37.8%, from $96.3k in 2017 to $8.95k in 2022.

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

Comparison: In 2022, Georgia ranked 64 in the Economic Complexity Index (ECI 0.036), and 118 in total exports ($6.82B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Georgia exported $11.3M to Panama. The main products exported from Georgia to Panama were Nitrogenous Fertilizers ($10.4M), Other Construction Vehicles ($463k), and Excavation Machinery ($392k). During the last 5 years the exports of Georgia to Panama have increased at an annualized rate of 41.7%, from $1.98M in 2017 to $11.3M in 2022.

In 2017, Panama exported $8.95k to Georgia. The main products exported from Panama to Georgia were Hard Liquor ($5.25k) and Knives ($3.69k). During the last 5 years the exports of Panama to Georgia have decreased at an annualized rate of 37.8%, from $96.3k in 2022 to $8.95k in 2017.

Exports from Georgia () to Panama () (2022)

Exports from Panama () to Georgia () (2022)

Latest Data

Trade between Georgia () and Panama ()

Georgia Exports

Date

Panama Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Georgia
Top DestinationChina$759M

Panama
Top DestinationChina$1.14B

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

In 2022, countries that imported more from Georgia than Panama included Azerbaijan ($668M), Russia ($642M), and Armenia ($571M).

In 2022, countries that imported more from Panama than Georgia included Japan ($785M), South Korea ($539M), and China ($1.14B).

Difference in imports from Panama () and Georgia () (2022)

Comparative Advantage Georgia - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Georgia had a large net trade with Panama in the exports of Chemical Products ($10.4M), Machines ($866k), and Metals ($24.5k).

During 2017, Panama had a large net trade with Georgia in the exports of Foodstuffs ($5.25k) and Metals ($3.69k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Georgia Panama+$4.03kRefined Petroleum

Top Product Potential Panama Georgia+$2.9kCopper Ore

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

About

Historical Data

Bilateral Trade by Products

Exports from Georgia () to Panama () (2022)

Exports from Panama () to Georgia () (2022)

Latest Data

Trade between Georgia () and Panama ()

Georgia Exports

Panama Exports

Market Competitiveness

Difference in imports from Panama () and Georgia () (2022)

Comparative Advantage Georgia - Panama

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Georgia () and Panama () (2022)

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