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

About

Georgia-Panama Trade: In 2023, Georgia exported $7.25M to Panama. The main products that Georgia exported to Panama were Nitrogenous Fertilizers ($7.08M), Flavored Water ($99.1k), and Hard Liquor ($27.6k). Over the past 5 years the exports of Georgia to Panama have increased at an annualized rate of 23.5%, from $2.52M in 2018 to $7.25M in 2023.

In 2023, Georgia did not export any services to Panama.

Panama-Georgia Trade: In 2023, Panama exported $208k to Georgia. The main products that Panama exported to Georgia were Railway Cargo Containers ($202k) and Hard Liquor ($5.82k). Over the past 5 years the exports of Panama to Georgia have increased at an annualized rate of 24.7%, from $14.7k in 2018 to $208k in 2023.

In 2023, Panama did not export any services to Georgia.

Comparison: In 2023, Georgia ranked 55 in the Economic Complexity Index (ECI 0.13), and 123 in total exports ($6.39B). That same year, Panama ranked 69 in the Economic Complexity Index (ECI -0.14), and 121 in total exports ($6.59B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Georgia exported $7.25M to Panama. The main products exported from Georgia to Panama were Nitrogenous Fertilizers ($7.08M), Flavored Water ($99.1k), and Hard Liquor ($27.6k). During the last 5 years the exports of Georgia to Panama have increased at an annualized rate of 23.5%, from $2.52M in 2018 to $7.25M in 2023.

In 2018, Panama exported $208k to Georgia. The main products exported from Panama to Georgia were Railway Cargo Containers ($202k) and Hard Liquor ($5.82k). During the last 5 years the exports of Panama to Georgia have increased at an annualized rate of 24.7%, from $14.7k in 2023 to $208k in 2018.

Exports from Georgia () to Panama () (2023)

Exports from Panama () to Georgia () (2023)

Latest Data

Trade between Georgia () and Panama ()

Georgia Exports

Date

Panama Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Georgia
Top DestinationAzerbaijan$828M

Panama
Top DestinationChina$1.62B

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 2023, countries that imported more from Georgia than Panama included Azerbaijan ($828M), Turkey ($733M), and Armenia ($712M).

In 2023, countries that imported more from Panama than Georgia included China ($1.62B), Japan ($653M), and Thailand ($346M).

Difference in imports from Panama () and Georgia () (2023)

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 2023, Georgia had a large net trade with Panama in the exports of Chemical Products ($7.08M), Foodstuffs ($159k), and Textiles ($2.34k).

During 2018, Panama had a large net trade with Georgia in the exports of Transportation ($202k) and Foodstuffs ($5.82k).

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

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 () (2023)

Exports from Panama () to Georgia () (2023)

Latest Data

Trade between Georgia () and Panama ()

Georgia Exports

Panama Exports

Market Competitiveness

Difference in imports from Panama () and Georgia () (2023)

Comparative Advantage Georgia - Panama

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

Product Space of Georgia () and Panama () (2023)

Keep Exploring