Panama (PAN) and China (CHN) Trade | The Observatory of Economic Complexity

About

Panama-China Trade: In 2023, Panama exported $1.62B to China. The main products that Panama exported to China were Copper Ore ($1.55B), Animal Meal and Pellets ($20.3M), and Coffee ($15.1M). Over the past 5 years the exports of Panama to China have increased at an annualized rate of 78.3%, from $89.7M in 2018 to $1.62B in 2023.

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

China-Panama Trade: In 2023, China exported $4.43B to Panama. The main products that China exported to Panama were Refined Petroleum ($313M), Passenger and Cargo Ships ($295M), and Cars ($153M). Over the past 5 years the exports of China to Panama have decreased at an annualized rate of 2.45%, from $6.12B in 2018 to $4.43B in 2023.

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

Comparison: In 2023, Panama ranked 69 in the Economic Complexity Index (ECI -0.14), and 121 in total exports ($6.59B). That same year, China ranked 21 in the Economic Complexity Index (ECI 1.16), and 1 in total exports ($3.42T).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Panama exported $1.62B to China. The main products exported from Panama to China were Copper Ore ($1.55B), Animal Meal and Pellets ($20.3M), and Coffee ($15.1M). During the last 5 years the exports of Panama to China have increased at an annualized rate of 78.3%, from $89.7M in 2018 to $1.62B in 2023.

In 2018, China exported $4.43B to Panama. The main products exported from China to Panama were Refined Petroleum ($313M), Passenger and Cargo Ships ($295M), and Cars ($153M). During the last 5 years the exports of China to Panama have decreased at an annualized rate of 2.45%, from $6.12B in 2023 to $4.43B in 2018.

Exports from Panama () to China () (2023)

Exports from China () to Panama () (2023)

Latest Data

Trade between Panama () and China ()

Panama Exports

Date

China Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Panama
Top DestinationChina$1.62B

China
Top DestinationUnited States$436B

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

In 2023, countries that imported more from Panama than China included British Indian Ocean Territory ($1.53M), Bonaire ($1.16M), and Saint Martin ($85.1k).

In 2023, countries that imported more from China than Panama included United States ($436B), Hong Kong ($259B), and Japan ($169B).

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

Comparative Advantage Panama - China

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Panama had a large net trade with China in the exports of Mineral Products ($1.55B), Foodstuffs ($20.7M), and Vegetable Products ($15.1M).

During 2018, China had a large net trade with Panama in the exports of Machines ($1.2B), Transportation ($681M), and Textiles ($595M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Panama China+$21.9MCopper Ore

Top Product Potential China Panama+$90MTelephones

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Panama () to China () (2023)

Exports from China () to Panama () (2023)

Latest Data

Trade between Panama () and China ()

Panama Exports

China Exports

Market Competitiveness

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

Comparative Advantage Panama - China

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

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

Keep Exploring