Hong Kong (HKG) and Panama (PAN) Trade | The Observatory of Economic Complexity

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Hong Kong-Panama Trade: In 2023, Hong Kong exported $36.5M to Panama. The main products that Hong Kong exported to Panama were Non-Knit Men's Suits ($2.62M), Medical Instruments ($2.41M), and Calculators ($2.22M). Over the past 5 years the exports of Hong Kong to Panama have decreased at an annualized rate of 35.3%, from $322M in 2018 to $36.5M in 2023.

In 2023, Hong Kong did not export any services to Panama.

Panama-Hong Kong Trade: In 2023, Panama exported $37.6M to Hong Kong. The main products that Panama exported to Hong Kong were Base Metal Watches ($8.45M), Bananas ($8.31M), and Leather Footwear ($3.48M). Over the past 5 years the exports of Panama to Hong Kong have increased at an annualized rate of 3.6%, from $31.5M in 2018 to $37.6M in 2023.

In 2023, Panama did not export any services to Hong Kong.

Comparison: In 2023, Hong Kong ranked 23 in the Economic Complexity Index (ECI 1.12), and 38 in total exports ($117B). 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, Hong Kong exported $36.5M to Panama. The main products exported from Hong Kong to Panama were Non-Knit Men's Suits ($2.62M), Medical Instruments ($2.41M), and Calculators ($2.22M). During the last 5 years the exports of Hong Kong to Panama have decreased at an annualized rate of 35.3%, from $322M in 2018 to $36.5M in 2023.

In 2018, Panama exported $37.6M to Hong Kong. The main products exported from Panama to Hong Kong were Base Metal Watches ($8.45M), Bananas ($8.31M), and Leather Footwear ($3.48M). During the last 5 years the exports of Panama to Hong Kong have increased at an annualized rate of 3.6%, from $31.5M in 2023 to $37.6M in 2018.

Exports from Hong Kong () to Panama () (2023)

Exports from Panama () to Hong Kong () (2023)

Latest Data

Trade between Hong Kong () and Panama ()

Hong Kong Exports

Date

Panama Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Hong Kong
Top DestinationChina$25.3B

Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from Hong Kong than Panama included China ($25.3B), Vietnam ($14.4B), and South Korea ($9.5B).

In 2023, countries that imported more from Panama than Hong Kong included Costa Rica ($307M), Gabon ($121M), and Dominican Republic ($148M).

Difference in imports from Panama () and Hong Kong () (2023)

Comparative Advantage Hong Kong - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Hong Kong had a large net trade with Panama in the exports of Machines ($12.8M), Textiles ($9.61M), and Instruments ($3.71M).

During 2018, Panama had a large net trade with Hong Kong in the exports of Vegetable Products ($8.78M), Instruments ($8.48M), and Footwear and Headwear ($5.61M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Hong Kong Panama+$7.08MTelephones

Top Product Potential Panama Hong Kong+$2.44MTelephones

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

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Historical Data

Bilateral Trade by Products

Exports from Hong Kong () to Panama () (2023)

Exports from Panama () to Hong Kong () (2023)

Latest Data

Trade between Hong Kong () and Panama ()

Hong Kong Exports

Panama Exports

Market Competitiveness

Difference in imports from Panama () and Hong Kong () (2023)

Comparative Advantage Hong Kong - Panama

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Hong Kong () and Panama () (2023)

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