2022
Flag  
GDP
$25.5TCURRENT US$
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2012-2022
Flag
GDP GROWTH
56.7%CURRENT US$
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2022
Flag
 GDP
$76.5BCURRENT US$
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2012-2022
Flag
GDP GROWTH
89.3%CURRENT US$
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2022
Flag
GDP PC 
$76,399CURRENT US$
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2012-2022
Flag
GDP PC GROWTH
47.5%CURRENT US$
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2022
Flag
GDP PC
$17,358CURRENT US$
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2012-2022
Flag
GDP PC GROWTH
61.2%CURRENT US$
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About

United States-Panama Trade: In 2022, United States exported $5.85B 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 33.5%, from $1.38B in 2017 to $5.85B 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 $1.55B 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 increased at an annualized rate of 36.4%,  from $329M in 2017 to $1.55B 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, GOYA SANTO DOMINGO SA (410), GOYA SANTO DOMINGO S.A. (144), and GOYA SANTO DOMINGO, SA (142) were notable for importing products to Panama from the United States.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, United States exported $5.85B 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 33.5%, from $1.38B in 2017 to $5.85B in 2022.

In 2017, Panama exported $1.55B 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 22 years the exports of Panama to United States have increased at an annualized rate of 36.4%, from $329M in 1995 to $1.55B 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 Destination
Canada$308B
Panama
Top Destination
China$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).

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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