Panama (PAN) and Israel (ISR) Trade | The Observatory of Economic Complexity

About

Panama-Israel Trade: In 2023, Panama exported $2.49M to Israel. The main products that Panama exported to Israel were Rubber Footwear ($716k), Knit Women's Undergarments ($391k), and Leather Footwear ($380k). Over the past 5 years the exports of Panama to Israel have decreased at an annualized rate of 1.09%, from $2.63M in 2018 to $2.49M in 2023.

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

Israel-Panama Trade: In 2023, Israel exported $13.8M to Panama. The main products that Israel exported to Panama were Perfumes ($1.61M), Medical Instruments ($1.49M), and Instructional Models ($869k). Over the past 5 years the exports of Israel to Panama have decreased at an annualized rate of 5.35%, from $19.2M in 2018 to $13.8M in 2023.

In 2012, Israel exported services to Panama worth $56.6M, with Computer and information services ($56.6M) 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, Israel ranked 19 in the Economic Complexity Index (ECI 1.28), and 49 in total exports ($69.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Panama exported $2.49M to Israel. The main products exported from Panama to Israel were Rubber Footwear ($716k), Knit Women's Undergarments ($391k), and Leather Footwear ($380k). During the last 5 years the exports of Panama to Israel have decreased at an annualized rate of 1.09%, from $2.63M in 2018 to $2.49M in 2023.

In 2018, Israel exported $13.8M to Panama. The main products exported from Israel to Panama were Perfumes ($1.61M), Medical Instruments ($1.49M), and Instructional Models ($869k). During the last 5 years the exports of Israel to Panama have decreased at an annualized rate of 5.35%, from $19.2M in 2023 to $13.8M in 2018.

Exports from Panama () to Israel () (2023)

Exports from Israel () to Panama () (2023)

Latest Data

Trade between Panama () and Israel ()

Panama Exports

Date

Israel Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Panama
Top DestinationChina$1.62B

Israel
Top DestinationUnited States$20.3B

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

In 2023, countries that imported more from Panama than Israel included Costa Rica ($307M), Denmark ($239M), and Dominican Republic ($148M).

In 2023, countries that imported more from Israel than Panama included United States ($20.3B), China ($7.09B), and Ireland ($4.22B).

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

Comparative Advantage Panama - Israel

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Panama had a large net trade with Israel in the exports of Footwear and Headwear ($1.47M), Textiles ($660k), and Instruments ($173k).

During 2018, Israel had a large net trade with Panama in the exports of Chemical Products ($4.6M), Instruments ($3.53M), and Machines ($2.6M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Panama Israel+$154kLeather Footwear

Top Product Potential Israel Panama+$1.31MMedical Instruments

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 Israel. This means that a dot/product with the flag of Panama indicates it has a comparative advantage over Israel. Similarly, a dot/product with the flag of Israel indicates it has a comparative advantage over Panama.

About

Historical Data

Bilateral Trade by Products

Exports from Panama () to Israel () (2023)

Exports from Israel () to Panama () (2023)

Latest Data

Trade between Panama () and Israel ()

Panama Exports

Israel Exports

Market Competitiveness

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

Comparative Advantage Panama - Israel

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 Israel () (2023)

Keep Exploring