2022
Exports
$6.53MWorld Rnk 100 / 222
Flag Rnk 81 / 1051
2022
PRODUCT COMPLEXITY IN Insulated Wire
-0.59Rnk 723 / 1025
2022
Imports
$176MWorld Rnk 77 / 225
Flag Rnk 28 / 1153
2022
ECONOMIC COMPLEXITY of Panama
0.17Rnk 56 / 133

About

Exports In 2022, Panama exported $6.53M in Insulated Wire, making it the 100th largest exporter of Insulated Wire in the world. At the same year, Insulated Wire was the 81st most exported product in Panama. The main destination of Insulated Wire exports from Panama are: Costa Rica ($2.91M), Spain ($1.18M), Suriname ($435k), Jamaica ($392k), and Guatemala ($367k).

The fastest growing export markets for Insulated Wire of Panama between 2021 and 2022 were Spain ($1.18M), Costa Rica ($984k), and Suriname ($383k).

Imports In 2022, Panama imported $176M in Insulated Wire, becoming the 77th largest importer of Insulated Wire in the world. At the same year, Insulated Wire was the 28th most imported product in Panama. Panama imports Insulated Wire primarily from: China ($85.3M), Mexico ($23.2M), Costa Rica ($14.8M), United States ($11.2M), and Spain ($8.26M).

The fastest growing import markets in Insulated Wire for Panama between 2021 and 2022 were China ($22.7M), Norway ($4.78M), and Portugal ($2.29M).

COMPANIES In 2023, leading companies such as The Tile Shop (1) were at the forefront of shipping Insulated Wire from Panama to the United States.

Latest Trends

Oct 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 Insulated Wire. 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)$6.53M
IMPORTS (2022)$176M
NET TRADE (2022)-$170M

In 2022, Panama exported $6.53M in Insulated Wire. The main destinations of Panama exports on Insulated Wire were Costa Rica ($2.91M), Spain ($1.18M), Suriname ($435k), Jamaica ($392k), and Guatemala ($367k).

In 2022, Panama imported $176M in Insulated Wire, mainly from China ($85.3M), Mexico ($23.2M), Costa Rica ($14.8M), United States ($11.2M), and Spain ($8.26M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Insulated Wire EXPORT MARKETS FOR Panama WERE (2021 - 2022):
Spain$1.18M (570k%)
Costa Rica$984k (51.2%)
Suriname$383k (727%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Insulated Wire BY Panama WERE (2021 - 2022):
Guatemala-$1.41M (-79.3%)
Jamaica-$194k (-33.1%)
Chile-$136k (-48.2%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Panama's main exporting competitors in Insulated Wire were:
In 2022, Panama's main importing competitors in Insulated Wire were:

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Trade Value of Insulated Wire by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALSpain+ $709k
TOP IMPORT POTENTIALMexico+ $11.5M

Insulated Wire’s highest export potential is Spain. With an export gap of $709k.   Insulated Wire’s highest import potential is Mexico with an import gap of $11.5M.

See methodology.

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