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

About

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.

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.

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

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, 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 2017 to $5.82M in 2022.

In 2017, 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 2022 to $9.11M in 2017.

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

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

Latest Data

Trade between Paraguay () and Panama ()

Paraguay Exports

Date

Panama Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Paraguay
Top DestinationBrazil$3.67B

Panama
Top DestinationChina$1.14B

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

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

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

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

Comparative Advantage Paraguay - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Paraguay had a large net trade with Panama in the exports of Chemical Products ($4.85M), Footwear and Headwear ($494k), and Vegetable Products ($177k).

During 2017, 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).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Paraguay Panama+$443kPackaged Medicaments

Top Product Potential Panama Paraguay+$329kTelephones

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

About

Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Paraguay () and Panama ()

Paraguay Exports

Panama Exports

Market Competitiveness

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

Comparative Advantage Paraguay - Panama

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 Paraguay () and Panama () (2022)

Keep Exploring