Panama (PAN) and Paraguay (PRY) Trade | The Observatory of Economic Complexity

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Panama-Paraguay Trade: In 2022, Panama exported $9.11M to Paraguay. The main products that Panama exported to Paraguay were Water and Gas Generators ($1.38M), Other Nitrogen Compounds ($830k), and Video Recording Equipment ($643k). Over the past 5 years the exports of Panama to Paraguay have decreased at an annualized rate of 39.2%, from $110M in 2017 to $9.11M in 2022.

In 2022, Panama did not export any services to Paraguay.

Paraguay-Panama Trade: In 2022, Paraguay exported $5.82M to Panama. The main products that Paraguay exported to Panama were Packaged Medicaments ($4.75M), Leather Footwear ($411k), and Textile Footwear ($83k). Over the past 5 years the exports of Paraguay to Panama have increased at an annualized rate of 6.82%, from $4.19M in 2017 to $5.82M in 2022.

In 2022, Paraguay did not export any services to Panama.

Comparison: In 2022, Panama ranked 56 in the Economic Complexity Index (ECI 0.17), and 119 in total exports ($6.62B). That same year, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.34), and 103 in total exports ($10.1B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Panama exported $9.11M to Paraguay. The main products exported from Panama to Paraguay were Water and Gas Generators ($1.38M), Other Nitrogen Compounds ($830k), and Video Recording Equipment ($643k). During the last 5 years the exports of Panama to Paraguay have decreased at an annualized rate of 39.2%, from $110M in 2017 to $9.11M in 2022.

In 2017, Paraguay exported $5.82M to Panama. The main products exported from Paraguay to Panama were Packaged Medicaments ($4.75M), Leather Footwear ($411k), and Textile Footwear ($83k). During the last 5 years the exports of Paraguay to Panama have increased at an annualized rate of 6.82%, from $4.19M in 2022 to $5.82M in 2017.

Exports from Panama () to Paraguay () (2022)

Exports from Paraguay () to Panama () (2022)

Latest Data

Trade between Panama () and Paraguay ()

Panama Exports

Date

Paraguay Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Panama
Top DestinationChina$1.14B

Paraguay
Top DestinationBrazil$3.67B

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

In 2022, countries that imported more from Panama than Paraguay included China ($1.14B), Japan ($785M), and South Korea ($539M).

In 2022, countries that imported more from Paraguay than Panama included Brazil ($3.67B), Argentina ($1.91B), and Chile ($1.16B).

Difference in imports from Paraguay () and Panama () (2022)

Comparative Advantage Panama - Paraguay

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Panama had a large net trade with Paraguay in the exports of Machines ($3.67M), Chemical Products ($1.65M), and Plastics and Rubbers ($1.25M).

During 2017, Paraguay had a large net trade with Panama in the exports of Chemical Products ($4.85M), Footwear and Headwear ($494k), and Vegetable Products ($177k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Panama Paraguay+$329kTelephones

Top Product Potential Paraguay Panama+$443kPackaged Medicaments

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.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Panama and Paraguay. This means that a dot/product with the flag of Panama indicates it has a comparative advantage over Paraguay. Similarly, a dot/product with the flag of Paraguay indicates it has a comparative advantage over Panama.

About

Historical Data

Bilateral Trade by Products

Exports from Panama () to Paraguay () (2022)

Exports from Paraguay () to Panama () (2022)

Latest Data

Trade between Panama () and Paraguay ()

Panama Exports

Paraguay Exports

Market Competitiveness

Difference in imports from Paraguay () and Panama () (2022)

Comparative Advantage Panama - Paraguay

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Panama () and Paraguay () (2022)

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