Panama (PAN) and Chile (CHL) Trade | The Observatory of Economic Complexity

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Panama-Chile Trade: In 2023, Panama exported $51M to Chile. The main products that Panama exported to Chile were Hard Liquor ($4.67M), Perfumes ($3.88M), and Microphones and Headphones ($3.71M). Over the past 5 years the exports of Panama to Chile have decreased at an annualized rate of 11.2%, from $92.3M in 2018 to $51M in 2023.

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

Chile-Panama Trade: In 2023, Chile exported $229M to Panama. The main products that Chile exported to Panama were Refined Petroleum ($56.5M), Fish Fillets ($13.9M), and Stone Processing Machines ($9.87M). Over the past 5 years the exports of Chile to Panama have decreased at an annualized rate of 1.09%, from $241M in 2018 to $229M in 2023.

In 2009, Chile exported services to Panama worth $31.9M, with Transportation ($20.6M) and Other business services ($11.3M) being the largest in terms of value.

Comparison: In 2023, Panama ranked 69 in the Economic Complexity Index (ECI -0.14), and 121 in total exports ($6.59B). That same year, Chile ranked 72 in the Economic Complexity Index (ECI -0.2), and 43 in total exports ($98.9B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Panama exported $51M to Chile. The main products exported from Panama to Chile were Hard Liquor ($4.67M), Perfumes ($3.88M), and Microphones and Headphones ($3.71M). During the last 5 years the exports of Panama to Chile have decreased at an annualized rate of 11.2%, from $92.3M in 2018 to $51M in 2023.

In 2018, Chile exported $229M to Panama. The main products exported from Chile to Panama were Refined Petroleum ($56.5M), Fish Fillets ($13.9M), and Stone Processing Machines ($9.87M). During the last 5 years the exports of Chile to Panama have decreased at an annualized rate of 1.09%, from $241M in 2023 to $229M in 2018.

Exports from Panama () to Chile () (2023)

Exports from Chile () to Panama () (2023)

Latest Data

Trade between Panama () and Chile ()

Panama Exports

Date

Chile Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Panama
Top DestinationChina$1.62B

Chile
Top DestinationChina$38.2B

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

In 2023, countries that imported more from Panama than Chile included Gabon ($121M), Guyana ($81.3M), and Jamaica ($87.1M).

In 2023, countries that imported more from Chile than Panama included China ($38.2B), United States ($15.7B), and Japan ($7.1B).

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

Comparative Advantage Panama - Chile

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Panama had a large net trade with Chile in the exports of Machines ($11.4M), Textiles ($6.66M), and Foodstuffs ($6.27M).

During 2018, Chile had a large net trade with Panama in the exports of Mineral Products ($61.3M), Metals ($34.1M), and Foodstuffs ($27.8M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Panama Chile+$5.82MRefined Petroleum

Top Product Potential Chile Panama+$1.72MCrude 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 Panama and Chile. This means that a dot/product with the flag of Panama indicates it has a comparative advantage over Chile. Similarly, a dot/product with the flag of Chile indicates it has a comparative advantage over Panama.

About

Historical Data

Bilateral Trade by Products

Exports from Panama () to Chile () (2023)

Exports from Chile () to Panama () (2023)

Latest Data

Trade between Panama () and Chile ()

Panama Exports

Chile Exports

Market Competitiveness

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

Comparative Advantage Panama - Chile

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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