Jamaica (JAM) and Panama (PAN) Trade | The Observatory of Economic Complexity

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Jamaica-Panama Trade: In 2023, Jamaica exported $20.1M to Panama. The main products that Jamaica exported to Panama were Refined Petroleum ($11.3M), Scrap Iron ($2.45M), and Aluminium Oxide ($1.54M). Over the past 5 years the exports of Jamaica to Panama have increased at an annualized rate of 44.8%, from $3.15M in 2018 to $20.1M in 2023.

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

Panama-Jamaica Trade: In 2023, Panama exported $87.1M to Jamaica. The main products that Panama exported to Jamaica were Packaged Medicaments ($23.9M), Paper Containers ($5.93M), and Cement ($3.63M). Over the past 5 years the exports of Panama to Jamaica have increased at an annualized rate of 1.12%, from $82.4M in 2018 to $87.1M in 2023.

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

Comparison: In 2023, Jamaica ranked 70 in the Economic Complexity Index (ECI -0.14), and 147 in total exports ($1.89B). 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, Jamaica exported $20.1M to Panama. The main products exported from Jamaica to Panama were Refined Petroleum ($11.3M), Scrap Iron ($2.45M), and Aluminium Oxide ($1.54M). During the last 5 years the exports of Jamaica to Panama have increased at an annualized rate of 44.8%, from $3.15M in 2018 to $20.1M in 2023.

In 2018, Panama exported $87.1M to Jamaica. The main products exported from Panama to Jamaica were Packaged Medicaments ($23.9M), Paper Containers ($5.93M), and Cement ($3.63M). During the last 5 years the exports of Panama to Jamaica have increased at an annualized rate of 1.12%, from $82.4M in 2023 to $87.1M in 2018.

Exports from Jamaica () to Panama () (2023)

Exports from Panama () to Jamaica () (2023)

Latest Data

Trade between Jamaica () and Panama ()

Panama Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Jamaica
Top DestinationUnited States$709M

Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from Jamaica than Panama included United States ($709M), Russia ($138M), and Latvia ($131M).

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

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

Comparative Advantage Jamaica - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Jamaica had a large net trade with Panama in the exports of Mineral Products ($11.3M), Metals ($2.71M), and Chemical Products ($2.25M).

During 2018, Panama had a large net trade with Jamaica in the exports of Chemical Products ($30.7M), Machines ($18M), and Paper Goods ($6.26M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Jamaica Panama+$5.45MRefined Petroleum

Top Product Potential Panama Jamaica+$125kRefined Petroleum

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

About

Historical Data

Bilateral Trade by Products

Exports from Jamaica () to Panama () (2023)

Exports from Panama () to Jamaica () (2023)

Latest Data

Trade between Jamaica () and Panama ()

Panama Exports

Market Competitiveness

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

Comparative Advantage Jamaica - Panama

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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