Flag Panama / Colombia Flag

2020
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Exports
: $22.2M, Rnk 36 / 124

2020
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Top Product
: $5.16M, Hard Liquor

2020
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Exports
: $1.43B, Rnk 4 / 189

2020
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Top Product
: $1.05B, Crude Petroleum

2020
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Economic Complexity (ECI)
: ECI -0.008, Rnk 58 / 127

2020
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Economic Complexity (ECI)
: ECI 0.14, Rnk 52 / 127

2020
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GDP
: $54B, CURRENT US$
Rnk 83 / 195

2010-2020
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GDP GROWTH
: 83.3%, CURRENT US$
Rnk 23 / 195

2020
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 GDP
: $271B, CURRENT US$
Rnk 40 / 195

2010-2020
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GDP GROWTH
: -5.28%, CURRENT US$
Rnk 167 / 195

2020
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GDP PC 
: $12,510, CURRENT US$
Rnk 64 / 195

2010-2020
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GDP PC GROWTH
: 54.8%, CURRENT US$
Rnk 27 / 195

2020
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GDP PC
: $5,335, CURRENT US$
Rnk 99 / 195

2010-2020
Flag
GDP PC GROWTH
: -15.8%, CURRENT US$
Rnk 167 / 195

Panama-Colombia In 2020, Panama exported $22.2M to Colombia. The main products that Panama exported to Colombia are Hard Liquor ($5.16M), Jewellery ($2.53M), and Packaged Medicaments ($2.19M). During the last 25 years the exports of Panama to Colombia have decreased at an annualized rate of 0.84%, from $27.4M in 1995 to $22.2M in 2020.

In 2020, Panama did not export any services to Colombia.

Colombia-Panama In 2020, Colombia exported $1.43B to Panama. The main products that Colombia exported to Panama were Crude Petroleum ($1.05B), Coal Briquettes ($56.7M), and Packaged Medicaments ($39.3M). During the last 25 years the exports of Colombia to Panama have increased at an annualized rate of 10%, from $131M in 1995 to $1.43B in 2020.

In 2020, Colombia did not export any services to Panama.

Comparison In 2020,  Panama ranked 58 in the Economic Complexity Index (ECI -0.008), and 122 in total exports ($4.04B). That same year, Colombia ranked 52 in the Economic Complexity Index (ECI 0.14), and 61 in total exports ($32.2B).

Historical Data

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Bilateral Trade by Products

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Depth
Value

In 2020, Panama exported $22.2M to Colombia. The main products exported from Panama to Colombia were Hard Liquor ($5.16M), Jewellery ($2.53M), and Packaged Medicaments ($2.19M). During the last 25 years the exports of Panama to Colombia have decreased at an annualized rate of 0.84%, from $27.4M in 1995 to $22.2M in 2020.

In 2020, Colombia exported $1.43B to Panama. The main products exported from Colombia to Panama were Crude Petroleum ($1.05B), Coal Briquettes ($56.7M), and Packaged Medicaments ($39.3M). During the last 25 years the exports of Colombia to Panama have increased at an annualized rate of 10%, from $131M in 1995 to $1.43B in 2020.

Panama Exports

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Colombia Exports

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Market Competitiveness

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Measure

Panama
Top Destination
: Guatemala, $613M

Colombia
Top Destination
: United States, $9.55B

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

In 2019, countries that imported more from Panama than Colombia were Guatemala ($613M), Bulgaria ($61.1M), and Denmark ($67M).

In 2019, countries that imported more from Colombia than Panama were United States ($9.55B), China ($2.8B), and Ecuador ($1.51B).

Comparative Advantage Panama - Colombia

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Flow

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

During 2020, Panama had a large net trade with Colombia in the exports of Foodstuffs ($5.21M), Chemical Products ($3.19M), and Precious Metals ($2.53M).

During 2020, Colombia had a large net trade with Panama in the exports of Mineral Products ($1.15B), Chemical Products ($81.8M), and Foodstuffs ($34.3M).

Economic Complexity

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Competitive Landscape

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This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Panama has comparative advantage over Colombia. Similarly, the more yellow a dot/product is, the more Colombia has comparative advantage over Panama.