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Pricing

2022
Flag → Flag
Exports $10.8BRnk 34 / 219
2022
Flag → Flag
Top Product $6.16BRefined Petroleum
2022
Flag → Flag
Exports $357MRnk 4 / 153
2022
Flag → Flag
Top Product $90.1MNon-fillet Fresh Fish
2022
Flag
Economic Complexity (ECI) ECI 1.47Rnk 10 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.17Rnk 56 / 133
2022
Flag  
GDP$25.5TCURRENT US$
Rnk 1 / 186
2012-2022
Flag
GDP GROWTH56.7%CURRENT US$
Rnk 45 / 186
2022
Flag
 GDP$76.5BCURRENT US$
Rnk 74 / 186
2012-2022
Flag
GDP GROWTH89.3%CURRENT US$
Rnk 19 / 186
2022
Flag
GDP PC $76,399CURRENT US$
Rnk 8 / 186
2012-2022
Flag
GDP PC GROWTH47.5%CURRENT US$
Rnk 39 / 186
2022
Flag
GDP PC$17,358CURRENT US$
Rnk 59 / 186
2012-2022
Flag
GDP PC GROWTH61.2%CURRENT US$
Rnk 26 / 186

About

United States-Panama Trade: In 2022, United States exported $10.8B to Panama. The main products that United States exported to Panama were Refined Petroleum ($6.16B), Crude Petroleum ($683M), and Petroleum Gas ($265M). Over the past 5 years the exports of United States to Panama have increased at an annualized rate of 13%, from $5.85B in 2017 to $10.8B in 2022.

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.

Panama-United States Trade: In 2022, Panama exported $357M to United States. The main products that Panama exported to United States were Non-fillet Fresh Fish ($90.1M), Precious Metal Scraps ($37.2M), and Raw Sugar ($27.8M). Over the past 5 years the exports of Panama to United States have decreased at an annualized rate of 25.4%,  from $1.55B in 2017 to $357M in 2022.

In 2022, Panama did not export any services to United States.

Comparison: In 2022,  United States ranked 10 in the Economic Complexity Index (ECI 1.47), and 2 in total exports ($1.95T). That same year, Panama ranked 56 in the Economic Complexity Index (ECI 0.17), and 119 in total exports ($6.62B).

Company data: In 2023, leading companies such as Goya Foods (1.07k), Bedrosians Tile & Stone (400), and IKEA Group (136) were at the forefront of exporting goods from Panama to the United States. Conversely, Other (669), Goya Santo Domingo Sa (410), and Goya Santo Domingo S.a. (144) were notable for importing products to Panama from the United States.

Latest Trends

August, 2024

About

Overview In August 2024, United States exported $1.01B and imported $52.9M from Panama, resulting in a positive trade balance of $956M. Between August 2023 and August 2024 the exports of United States have increased by $43.3M (4.49%) from $965M to $1.01B, while imports increased by $7.4M (16.3%) from $45.5M to $52.9M.

Trade In August 2024, the top exports of United States to Panama were Refined Petroleum ($388M), Aircraft Parts ($65.1M), Petroleum Gas ($50.8M), Commodities not elsewhere specified ($32.4M), and Telephones ($17.2M). In August 2024 the top imports of United States from Panama were Commodities not elsewhere specified ($12.4M), Non-fillet Fresh Fish ($4.74M), Precious Metal Scraps ($3.88M), Bananas ($3.57M), and Fish Fillets ($1.91M).

Origins In August 2024 the exports of United States were mainly from Louisiana ($217M), Mississippi ($173M), Puerto Rico ($165M), Texas ($129M), and Florida ($113M), while imports destinations were mainly Florida ($25.6M), Illinois ($5.54M), New York ($5.43M), Wisconsin ($2.43M), and Texas ($2.25M).

Growth In August 2024, the increase in United States's year-by-year exports to Panama was explained primarily by an increase in product exports in Refined Petroleum ($111M or 40.1%), Petroleum Gas ($11.2M or 28.4%), and Commodities not elsewhere specified ($8.9M or 37.9%). In August 2024, the increase in United States's year-by-year imports  from Panama was explained primarily by an increase in product imports  in Precious Metal Scraps ($2.37M or 156%), Bananas ($1.26M or 54.4%), and Leather Footwear ($819k or 554%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)$43.3M(4.49%)
IMPORT GROWTH (August 2023 - August 2024)$7.4M(16.3%)
MAIN EXPORTER (August 2024)Louisiana$217M

This section shows exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United States over time.

To check Panama and United States trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Panama and United States Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, United States exported $10.8B to Panama. The main products exported from United States to Panama were Refined Petroleum ($6.16B), Crude Petroleum ($683M), and Petroleum Gas ($265M). During the last 5 years the exports of United States to Panama have increased at an annualized rate of 13%, from $5.85B in 2017 to $10.8B in 2022.

In 2017, Panama exported $357M to United States. The main products exported from Panama to United States were Non-fillet Fresh Fish ($90.1M), Precious Metal Scraps ($37.2M), and Raw Sugar ($27.8M). During the last 5 years the exports of Panama to United States have decreased at an annualized rate of 25.4%, from $1.55B in 2022 to $357M in 2017.

Exports from United States (Flag) to Panama (Flag) (2022)

Exports from Panama (Flag) to United States (Flag) (2022)

Market Competitiveness

Color
United States
Top DestinationCanada$308B
Panama
Top DestinationChina$1.14B

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

In 2022, countries that imported more from United States than Panama included Canada ($308B), Mexico ($294B), and China ($151B).

In 2022, countries that imported more from Panama than United States included Bonaire ($639k).

Difference in imports from Panama (Flag) and United States (Flag) (2022)

Comparative Advantage United States - Panama

Flow
Scale

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

During 2022, United States had a large net trade with Panama in the exports of Mineral Products ($7.2B), Machines ($886M), and Foodstuffs ($651M).

During 2017, Panama had a large net trade with United States in the exports of Animal Products ($123M), Precious Metals ($65.1M), and Vegetable Products ($35M).

Potential Exports

Potential Exports

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

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

Product Space of United States (Flag) and Panama (Flag) (2022)

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