2022
Exports
$1.15MWorld Rnk 104 / 149
Flag Rnk 233 / 1051
2022
PRODUCT COMPLEXITY IN Crude Petroleum
-2.25Rnk 1011 / 1025
2022
Imports
$16.1BWorld Rnk 17 / 158
Flag Rnk 1 / 1153
2022
ECONOMIC COMPLEXITY of Panama
0.17Rnk 56 / 133

About

Exports In 2022, Panama exported $1.15M in Crude Petroleum, making it the 104th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 233rd most exported product in Panama. The main destination of Crude Petroleum exports from Panama are: Colombia ($1.15M), Spain ($228), Netherlands ($187), and Belgium ($98).

The fastest growing export markets for Crude Petroleum of Panama between 2021 and 2022 were Colombia ($843k), Spain ($228), and Netherlands ($187).

Imports In 2022, Panama imported $16.1B in Crude Petroleum, becoming the 17th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most imported product in Panama. Panama imports Crude Petroleum primarily from: Guyana ($5.84B), Colombia ($5.23B), Ecuador ($4.02B), United States ($683M), and Trinidad and Tobago ($190M).

The fastest growing import markets in Crude Petroleum for Panama between 2021 and 2022 were Guyana ($5.02B), Colombia ($3.29B), and Ecuador ($768M).

Latest Trends

Apr 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Crude Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.15M
IMPORTS (2022)$16.1B
NET TRADE (2022)-$16.1B

In 2022, Panama exported $1.15M in Crude Petroleum. The main destinations of Panama exports on Crude Petroleum were Colombia ($1.15M), Spain ($228), Netherlands ($187), and Belgium ($98).

In 2022, Panama imported $16.1B in Crude Petroleum, mainly from Guyana ($5.84B), Colombia ($5.23B), Ecuador ($4.02B), United States ($683M), and Trinidad and Tobago ($190M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Panama WERE (2021 - 2022):
Colombia$843k (272%)
Spain$228 (1%)
Netherlands$187 (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Panama WERE (2021 - 2022):United Arab Emirates-$547 (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Panama's main exporting competitors in Crude Petroleum were:
In 2022, Panama's main importing competitors in Crude Petroleum were:

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Trade Value of Crude Petroleum by Exporters

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