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2022
Flag → Flag
Exports $45.1MRnk 30 / 153
2022
Flag → Flag
Top Product $20.3MPackaged Medicaments
2022
Flag → Flag
Exports $909kRnk 37 / 139
2022
Flag → Flag
Top Product $489kPaper Labels
2022
Flag
Economic Complexity (ECI) ECI 0.17Rnk 56 / 133
2022
Flag  
GDP$76.5BCURRENT US$
Rnk 74 / 186
2012-2022
Flag
GDP GROWTH89.3%CURRENT US$
Rnk 19 / 186
2022
Flag
 GDP$5.64BCURRENT US$
Rnk 152 / 186
2012-2022
Flag
GDP GROWTH22.3%CURRENT US$
Rnk 116 / 186
2022
Flag
GDP PC $17,358CURRENT US$
Rnk 59 / 186
2012-2022
Flag
GDP PC GROWTH61.2%CURRENT US$
Rnk 26 / 186
2022
Flag
GDP PC$20,019CURRENT US$
Rnk 52 / 186
2012-2022
Flag
GDP PC GROWTH19.9%CURRENT US$
Rnk 89 / 186

About

Panama-Barbados Trade: In 2022, Panama exported $45.1M to Barbados. The main products that Panama exported to Barbados were Packaged Medicaments ($20.3M), Cellulose Fibers Paper ($2.29M), and Soybean Oil ($1.51M). Over the past 5 years the exports of Panama to Barbados have increased at an annualized rate of 24.7%, from $14.9M in 2017 to $45.1M in 2022.

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

Barbados-Panama Trade: In 2022, Barbados exported $909k to Panama. The main products that Barbados exported to Panama were Paper Labels ($489k), Hard Liquor ($233k), and Shaving Products ($66.9k). Over the past 5 years the exports of Barbados to Panama have decreased at an annualized rate of 34.7%,  from $7.65M in 2017 to $909k in 2022.

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

Comparison In 2022,  Panama ranked 56 in the Economic Complexity Index (ECI 0.17),  and 119 in total exports ($6.62B). That same year, Barbados ranked 176 in total exports ($393M), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Panama exported $45.1M to Barbados. The main products exported from Panama to Barbados were Packaged Medicaments ($20.3M), Cellulose Fibers Paper ($2.29M), and Soybean Oil ($1.51M). During the last 5 years the exports of Panama to Barbados have increased at an annualized rate of 24.7%, from $14.9M in 2017 to $45.1M in 2022.

In 2017, Barbados exported $909k to Panama. The main products exported from Barbados to Panama were Paper Labels ($489k), Hard Liquor ($233k), and Shaving Products ($66.9k). During the last 5 years the exports of Barbados to Panama have decreased at an annualized rate of 34.7%, from $7.65M in 2022 to $909k in 2017.

Exports from Panama (Flag) to Barbados (Flag) (2022)

Exports from Barbados (Flag) to Panama (Flag) (2022)

Latest Data

Trade between Panama (Flag) and Barbados (Flag)

Panama Exports

Barbados Exports

Market Competitiveness

Color
Panama
Top DestinationChina$1.14B
Barbados
Top DestinationUnited States$88.6M

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

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

In 2022, countries that imported more from Barbados than Panama included Saint Lucia ($20.8M), Saint Vincent and the Grenadines ($14.1M), and Trinidad and Tobago ($33.8M).

Difference in imports from Barbados (Flag) and Panama (Flag) (2022)

Comparative Advantage Panama - Barbados

Flow
Scale

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

During 2022, Panama had a large net trade with Barbados in the exports of Chemical Products ($23.7M), Machines ($3.9M), and Paper Goods ($2.52M).

During 2017, Barbados had a large net trade with Panama in the exports of Paper Goods ($494k), Foodstuffs ($233k), and Chemical Products ($116k).

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Panama and Barbados. This means that a dot/product with the flag of Panama indicates it has a comparative advantage over Barbados. Similarly, a dot/product with the flag of Barbados indicates it has a comparative advantage over Panama.

Product Space of Panama (Flag) and Barbados (Flag) (2022)

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