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Pricing

2023
Flag → Flag
Exports $385MRnk 3 / 146
2023
Flag → Flag
Top Product $67.9MNon-fillet Fresh Fish
2023
Flag → Flag
Exports $5.29BRnk 47 / 220
2023
Flag → Flag
Top Product $1.27BRefined Petroleum
2023
Flag
Economic Complexity (ECI) ECI -0.14Rnk 69 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.5Rnk 10 / 132
2023
Flag  
GDP$83.3BCURRENT US$
Rnk 76 / 195
2013-2023
Flag
GDP GROWTH77.5%CURRENT US$
Rnk 32 / 195
2023
Flag
 GDP$27.7TCURRENT US$
Rnk 1 / 195
2013-2023
Flag
GDP GROWTH64.2%CURRENT US$
Rnk 44 / 195
2023
Flag
GDP PC $18,686CURRENT US$
Rnk 65 / 195
2013-2023
Flag
GDP PC GROWTH52.3%CURRENT US$
Rnk 43 / 195
2023
Flag
GDP PC$82,769CURRENT US$
Rnk 9 / 196
2013-2023
Flag
GDP PC GROWTH55%CURRENT US$
Rnk 40 / 195

About

Panama-United States Trade: In 2023, Panama exported $385M to United States. The main products that Panama exported to United States were Non-fillet Fresh Fish ($67.9M), Precious Metal Scraps ($46.1M), and Bananas ($36.1M). Over the past 5 years the exports of Panama to United States have decreased at an annualized rate of 29.9%, from $2.28B in 2018 to $385M in 2023.

In 2023, Panama did not export any services to United States.

United States-Panama Trade: In 2023, United States exported $5.29B to Panama. The main products that United States exported to Panama were Refined Petroleum ($1.27B), Crude Petroleum ($861M), and Petroleum Gas ($247M). Over the past 5 years the exports of United States to Panama have increased at an annualized rate of 0.62%,  from $5.13B in 2018 to $5.29B in 2023.

In 2017, United States exported services to Panama worth $2.13B, with Transportation ($732M), Travel ($478M), and Financial services ($423M) 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, United States ranked 10 in the Economic Complexity Index (ECI 1.5), and 2 in total exports ($1.86T).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Panama exported $385M to United States. The main products exported from Panama to United States were Non-fillet Fresh Fish ($67.9M), Precious Metal Scraps ($46.1M), and Bananas ($36.1M). During the last 5 years the exports of Panama to United States have decreased at an annualized rate of 29.9%, from $2.28B in 2018 to $385M in 2023.

In 2018, United States exported $5.29B to Panama. The main products exported from United States to Panama were Refined Petroleum ($1.27B), Crude Petroleum ($861M), and Petroleum Gas ($247M). During the last 5 years the exports of United States to Panama have increased at an annualized rate of 0.62%, from $5.13B in 2023 to $5.29B in 2018.

Exports from Panama (Flag) to United States (Flag) (2023)

Exports from United States (Flag) to Panama (Flag) (2023)

Latest Data

Trade between Panama (Flag) and United States (Flag)

Panama Exports

United States Exports

Market Competitiveness

Color
Panama
Top DestinationChina$1.62B
United States
Top DestinationCanada$269B

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

In 2023, countries that imported more from Panama than United States included Bonaire ($1.16M).

In 2023, countries that imported more from United States than Panama included Canada ($269B), Mexico ($243B), and China ($154B).

Difference in imports from United States (Flag) and Panama (Flag) (2023)

Comparative Advantage Panama - United States

Flow
Scale

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

During 2023, Panama had a large net trade with United States in the exports of Animal Products ($97.7M), Precious Metals ($69.4M), and Vegetable Products ($51M).

During 2018, United States had a large net trade with Panama in the exports of Mineral Products ($2.44B), Machines ($684M), and Foodstuffs ($520M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Panama United States+$19.9MGold
Top Product Potential United States Panama+$172MCrude Petroleum

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

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

Product Space of Panama (Flag) and United States (Flag) (2023)

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