Panama / South Korea

Panama-South Korea Trade: In 2022, Panama exported $539M to South Korea. The main products that Panama exported to South Korea were Copper Ore ($233M), Passenger and Cargo Ships ($218M), and Petroleum Gas ($58M). Over the past 5 years the exports of Panama to South Korea have increased at an annualized rate of 29.7%, from $147M in 2017 to $539M in 2022.

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

South Korea-Panama Trade: 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). Over the past 5 years the exports of South Korea to Panama have decreased at an annualized rate of 6.08%,  from $1.72B in 2017 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).