Flag Panama / Colombia Flag

2019
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Exports
: $62.1M, Rnk 19 / 115

2019
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Top Product
: $28M, Refined Petroleum

2019
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Exports
: $2.35B, Rnk 3 / 188

2019
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Top Product
: $1.92B, Crude Petroleum

2019
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Economic Complexity (ECI)
: ECI 0.19, Rnk 58 / 146

2019
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Economic Complexity (ECI)
: ECI 0.26, Rnk 56 / 146

2019
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GDP
: $66.8B, CURRENT US$
Rnk 74 / 187

2009-2019
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GDP GROWTH
: 146%, CURRENT US$
Rnk 14 / 187

2019
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 GDP
: $324B, CURRENT US$
Rnk 38 / 187

2009-2019
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GDP GROWTH
: 39.3%, CURRENT US$
Rnk 112 / 187

2019
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GDP PC 
: $15,731, CURRENT US$
Rnk 56 / 187

2009-2019
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GDP PC GROWTH
: 108%, CURRENT US$
Rnk 12 / 187

2019
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GDP PC
: $6,429, CURRENT US$
Rnk 93 / 187

2009-2019
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GDP PC GROWTH
: 23.8%, CURRENT US$
Rnk 106 / 187

Panama-Colombia In 2019, Panama exported $62.1M to Colombia. The main products that Panama exported to Colombia are Refined Petroleum ($28M), Planes, Helicopters, and/or Spacecraft ($12.4M), and Hard Liquor ($4.94M). During the last 24 years the exports of Panama to Colombia have increased at an annualized rate of 3.56%, from $26.8M in 1995 to $62.1M in 2019.

In 2019, Panama did not export any services to Colombia.

Colombia-Panama In 2019, Colombia exported $2.35B to Panama . The main products that Colombia exported to Panama were Crude Petroleum ($1.92B), Refined Petroleum ($79M), and Coal Briquettes ($46M). During the last 24 years the exports of Colombia to Panama have increased at an annualized rate of 12.8%, from $131M in 1995 to $2.35B in 2019.

In 2019, Colombia did not export any services to Panama.

Comparison In 2019,  Panama ranked 58 in the Economic Complexity Index (ECI 0.19), and 115 in total exports ($4.95B). That same year, Colombia ranked 56 in the Economic Complexity Index (ECI 0.26), and 54 in total exports ($40.5B).

Historical Data

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Bilateral Trade by Products

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Depth
Value
Compare to

In 2019, Panama exported $62.1M to Colombia. The main products exported from Panama to Colombia were Refined Petroleum ($28M), Planes, Helicopters, and/or Spacecraft ($12.4M), and Hard Liquor ($4.94M). During the last 24 years the exports of Panama to Colombia have increased at an annualized rate of 3.56%, from $26.8M in 1995 to $62.1M in 2019.

In 2019, Colombia exported $2.35B to Panama. The main products exported from Colombia to Panama were Crude Petroleum ($1.92B), Refined Petroleum ($79M), and Coal Briquettes ($46M). During the last 24 years the exports of Colombia to Panama have increased at an annualized rate of 12.8%, from $131M in 1995 to $2.35B in 2019.

Panama Exports

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Colombia Exports

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Market Competitiveness

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Measure

Panama
Top Destination
: Ecuador, $975M

Colombia
Top Destination
: United States, $12.4B

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 ($667M), Paraguay ($144M), and Nigeria ($96.3M).

In 2019, countries that imported more from Colombia than Panama were United States ($12.4B), China ($4.58B), and Brazil ($1.47B).

Comparative Advantage Panama - Colombia

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Depth

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

During 2019, Panama had a large net trade with Colombia in the exports of Mineral Products ($28.5M), Transportation ($12.7M), and Foodstuffs ($5.62M).

During 2019, Colombia had a large net trade with Panama in the exports of Mineral Products ($2.05B), Chemical Products ($80.6M), and Foodstuffs ($33.6M).

Tariff Section

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This section shows import tariffs for products traded between Panama and Colombia (using the HS6 product classification and the last year reported).

In 2015, the products from Panama that paid the highest import tariffs to enter Colombia were Sugars: cane sugar, raw, in solid form, as specified in Subheading Note 2 to this chapter, not containing added flavouring or colouring matter (144%) and Sugars: cane sugar, raw, in solid form, other than as specified in Subheading Note 2 to this chapter, not containing added flavouring or colouring matter (144%).

In 2019, the products from Colombia that paid the highest import tariffs to enter Panama were Bovine carcasses and half carcasses, fresh or chilled (64%) and Bovine cuts bone in, fresh or chilled (64%).

*The tariffs present between Panama and Colombia are:
136: Most Favoured Nation duty rate treatement

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 red.  This mean that the more blue a dot/product is, the more Panama has comparative advantage over Colombia. Similarly, the more red a dot/product is, the more Colombia has comparative advantage over Panama.