Flag Panama / Ecuador Flag

Exports FlagFlag  (2018): $1.06B, Rnk 1 / 115

Top Product FlagFlag (2018): $497M, Coal Tar Oil

Exports FlagFlag (2018): $1.24B, Rnk 5 / 166

Top Product FlagFlag (2018): $676M, Refined Petroleum

Economic Complexity of Flag (2018): ECI 0.1, Rnk 61 / 137

Economic Complexity of Flag (2018): ECI -0.7, Rnk 102 / 137

GDP Flag (2018): $65.1B, CURRENT US$
Rnk 75 / 196

GDP GROWTH Flag (2008-2018): 159%, CURRENT US$
Rnk 9 / 196

GDP Flag (2018): $108B, CURRENT US$
Rnk 59 / 196

GDP GROWTH Flag (2008-2018): 75.5%, CURRENT US$
Rnk 49 / 196

GDP PC Flag (2018): $15,575, CURRENT US$
Rnk 61 / 196

GDP PC GROWTH Flag (2008-2018): 118%, CURRENT US$
Rnk 10 / 196

GDP PC Flag (2018): $6,345, CURRENT US$
Rnk 98 / 196

GDP PC GROWTH Flag (2008-2018): 49.3%, CURRENT US$
Rnk 47 / 196

Panama-Ecuador: In 2018, Panama exported $1.06B to Ecuador. The main products exported from Panama to Ecuador were Coal Tar Oil ($497M), Refined Petroleum ($494M), and Petroleum Gas ($36.7M). During the last 23 years the exports of Panama to Ecuador have increased at an annualized rate of 12.5%, from $70.7M in 1995 to $1.06B in 2018.

Ecuador-Panama: In 2018, Ecuador exported $1.24B to Panama. The main products exported from Ecuador to Panama were Refined Petroleum ($676M), Crude Petroleum ($518M), and Packaged Medicaments ($11.3M). During the last 23 years the exports of Ecuador to Panama have increased at an annualized rate of 9.35%, from $159M in 1995 to $1.24B in 2018.

Comparison: In 2018, Panama ranked 61 in the Economic Complexity Index (ECI 0.1), and 119 in total exports ($3.97B). That same year, Ecuador ranked 102 in the Economic Complexity Index (ECI -0.7), and 70 in total exports ($22.1B). In terms of GDP Per Capita, Panama was ranked 61 with a GDP Per Capita of $15,575, and Ecuador was ranked 98 with a GDP Per Capita of $6,345.

Bilateral Trade by Products

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Depth
Value

In 2018, Panama exported $1.06B to Ecuador. The main products exported from Panama to Ecuador were Coal Tar Oil ($497M), Refined Petroleum ($494M), and Petroleum Gas ($36.7M). During the last 23 years the exports of Panama to Ecuador have increased at an annualized rate of 12.5%, from $70.7M in 1995 to $1.06B in 2018.

In 2018, Ecuador exported $1.24B to Panama. The main products exported from Ecuador to Panama were Refined Petroleum ($676M), Crude Petroleum ($518M), and Packaged Medicaments ($11.3M). During the last 23 years the exports of Ecuador to Panama have increased at an annualized rate of 9.35%, from $159M in 1995 to $1.24B in 2018.

Market Competitiveness

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Measure

Panama
Top Destination
: Ecuador, $1.06B

Ecuador
Top Destination
: United States, $6.69B

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

In 2018, countries that imported more from Panama than Ecuador were Costa Rica ($219M), Cyprus ($177M), and Switzerland ($162M).

In 2018, countries that imported more from Ecuador than Panama were United States ($6.69B), Peru ($1.66B), and Chile ($1.49B).

Comparative Advantage Panama - Ecuador

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Depth

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

During 2018, Panama had a large net trade with Ecuador in the exports of Mineral Products ($1.03B), Chemical Products ($10.9M), and Machines ($6.59M).

During 2018, Ecuador had a large net trade with Panama in the exports of Mineral Products ($1.19B), Chemical Products ($12.2M), and Foodstuffs ($11.6M).

Tariff Section

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

In 2015, the products from Panama that paid the highest import tariffs to enter Ecuador 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 2018, the products from Ecuador that paid the highest import tariffs to enter Panama were Meat and edible offal: of fowls of the species Gallus domesticus, cuts and offal, fresh or chilled (85.5%) and Meat and edible offal: of fowls of the species Gallus domesticus, cuts and offal, frozen (85.5%).

Explore Tariff Data

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

Trade Forecasts

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This section shows a forecast for total trade between Panama and Ecuador. The forecast is based on a long short-term memory model or LSTM constructed using yearly trade data.

To create custom forecast, or modify the parameters of the forecasting model, visit our Forecast Section.

Explore Forecasts

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 Ecuador. Similarly, the more red a dot/product is, the more Ecuador has comparative advantage over Panama.