Panama (PAN) and South Korea (KOR) Trade | The Observatory of Economic Complexity

About

Panama-South Korea In 2022, Panama exported $539M to South Korea. The main products that Panama exported to South Korea are Copper Ore ($233M), Passenger and Cargo Ships ($218M), and Petroleum Gas ($58M). During the last 27 years the exports of Panama to South Korea have increased at an annualized rate of 1.43%, from $368M in 1995 to $539M in 2022.

In 2022, Panama did not export any services to South Korea.

South Korea-Panama In 2022, South Korea exported $1.18B to Panama. The main products that South Korea exported to Panama were Passenger and Cargo Ships ($522M), Special Purpose Ships ($346M), and Cars ($63.4M). During the last 27 years the exports of South Korea to Panama have decreased at an annualized rate of 2.34%, from $2.24B in 1995 to $1.18B in 2022.

In 2005, South Korea exported services to Panama worth $114M, with Transportation ($92.6M), Services not allocated ($11.9M), and Other business services ($5M) being the largest in terms of value.

Comparison In 2022, Panama ranked 56 in the Economic Complexity Index (ECI 0.17), and 119 in total exports ($6.62B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Panama exported $539M to South Korea. The main products exported from Panama to South Korea were Copper Ore ($233M), Passenger and Cargo Ships ($218M), and Petroleum Gas ($58M). During the last 27 years the exports of Panama to South Korea have increased at an annualized rate of 1.43%, from $368M in 1995 to $539M in 2022.

In 2022, South Korea exported $1.18B to Panama. The main products exported from South Korea to Panama were Passenger and Cargo Ships ($522M), Special Purpose Ships ($346M), and Cars ($63.4M). During the last 27 years the exports of South Korea to Panama have decreased at an annualized rate of 2.34%, from $2.24B in 1995 to $1.18B in 2022.

Exports from Panama () to South Korea () (2022)

Exports from South Korea () to Panama () (2022)

Latest Data

Trade between Panama () and South Korea ()

Panama Exports

Date

South Korea Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Panama
Top DestinationChina$1.14B

South Korea
Top DestinationChina$150B

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

In 2021, countries that imported more from Panama than South Korea were Jamaica ($99.7M), Barbados ($45.1M), and Aruba ($43.4M).

In 2021, countries that imported more from South Korea than Panama were China ($150B), United States ($112B), and Vietnam ($60.7B).

Difference in imports from South Korea () and Panama () (2022)

Comparative Advantage Panama - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Panama had a large net trade with South Korea in the exports of Mineral Products ($292M), Transportation ($218M), and Metals ($21.2M).

During 2022, South Korea had a large net trade with Panama in the exports of Transportation ($955M), Machines ($92.9M), and Plastics and Rubbers ($44.2M).

Service Trade

Bilateral Service Trade

In 2005, South Korea exported services to Panama worth $114M, with Transportation ($92.6M), Services not allocated ($11.9M), and Other business services ($5M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea () to Panama () (2005)

Economic Complexity

Competitive Landscape

Year

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 South Korea. Similarly, the more yellow a dot/product is, the more South Korea has comparative advantage over Panama.

About

Historical Data

Bilateral Trade by Products

Exports from Panama () to South Korea () (2022)

Exports from South Korea () to Panama () (2022)

Latest Data

Trade between Panama () and South Korea ()

Panama Exports

South Korea Exports

Market Competitiveness

Difference in imports from South Korea () and Panama () (2022)

Comparative Advantage Panama - South Korea

Service Trade

Bilateral Service Trade

Services Exports from South Korea () to Panama () (2005)

Economic Complexity

Competitive Landscape

Product Space of Panama () and South Korea () (2022)

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