Indonesia (IDN) and Panama (PAN) Trade | The Observatory of Economic Complexity

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Indonesia-Panama Trade: In 2023, Indonesia exported $149M to Panama. The main products that Indonesia exported to Panama were Cars ($57.1M), Broadcasting Equipment ($22.9M), and Leather Footwear ($15.6M). Over the past 5 years the exports of Indonesia to Panama have decreased at an annualized rate of 1.74%, from $162M in 2018 to $149M in 2023.

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

Panama-Indonesia Trade: In 2023, Panama exported $18M to Indonesia. The main products that Panama exported to Indonesia were Passenger and Cargo Ships ($15.1M), Tanned Equine and Bovine Hides ($1.1M), and Equine and Bovine Hides ($893k). Over the past 5 years the exports of Panama to Indonesia have decreased at an annualized rate of 17.1%, from $46M in 2018 to $18M in 2023.

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

Comparison: In 2023, Indonesia ranked 65 in the Economic Complexity Index (ECI -0.085), and 27 in total exports ($299B). 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, Indonesia exported $149M to Panama. The main products exported from Indonesia to Panama were Cars ($57.1M), Broadcasting Equipment ($22.9M), and Leather Footwear ($15.6M). During the last 5 years the exports of Indonesia to Panama have decreased at an annualized rate of 1.74%, from $162M in 2018 to $149M in 2023.

In 2018, Panama exported $18M to Indonesia. The main products exported from Panama to Indonesia were Passenger and Cargo Ships ($15.1M), Tanned Equine and Bovine Hides ($1.1M), and Equine and Bovine Hides ($893k). During the last 5 years the exports of Panama to Indonesia have decreased at an annualized rate of 17.1%, from $46M in 2023 to $18M in 2018.

Exports from Indonesia () to Panama () (2023)

Exports from Panama () to Indonesia () (2023)

Latest Data

Trade between Indonesia () and Panama ()

Indonesia Exports

Date

Panama Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Indonesia
Top DestinationChina$70.7B

Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from Indonesia than Panama included China ($70.7B), United States ($27.9B), and India ($24B).

In 2023, countries that imported more from Panama than Indonesia included Costa Rica ($307M), Gabon ($121M), and Guyana ($81.3M).

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

Comparative Advantage Indonesia - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Indonesia had a large net trade with Panama in the exports of Transportation ($59.5M), Machines ($29M), and Footwear and Headwear ($21.9M).

During 2018, Panama had a large net trade with Indonesia in the exports of Transportation ($15.1M), Animal Hides ($2.04M), and Machines ($465k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Indonesia Panama+$8.71MCars

Top Product Potential Panama Indonesia+$2.51MPassenger and Cargo Ships

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

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Historical Data

Bilateral Trade by Products

Exports from Indonesia () to Panama () (2023)

Exports from Panama () to Indonesia () (2023)

Latest Data

Trade between Indonesia () and Panama ()

Indonesia Exports

Panama Exports

Market Competitiveness

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

Comparative Advantage Indonesia - Panama

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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