2023
Exports
$342MWorld Rnk 27 / 121
Flag Rnk 3 / 1046
2023
PRODUCT COMPLEXITY IN Passenger and Cargo Ships
-0.44Rnk 679 / 1025
2023
Imports
$3.8BWorld Rnk 6 / 183
Flag Rnk 2 / 1151
2023
ECONOMIC COMPLEXITY of Panama
-0.14Rnk 69 / 132

About

Exports In 2023, Panama exported $342M in Passenger and Cargo Ships, making it the 27th largest exporter of Passenger and Cargo Ships in the world. At the same year, Passenger and Cargo Ships was the 3rd most exported product in Panama. The main destination of Passenger and Cargo Ships exports from Panama are: Denmark ($164M), Japan ($121M), Thailand ($18M), Germany ($16.2M), and Indonesia ($15.1M).

The fastest growing export markets for Passenger and Cargo Ships of Panama between 2022 and 2023 were Denmark ($20.2M), Thailand ($13.9M), and Indonesia ($11.3M).

Imports In 2023, Panama imported $3.8B in Passenger and Cargo Ships, becoming the 6th largest importer of Passenger and Cargo Ships in the world. At the same year, Passenger and Cargo Ships was the 2nd most imported product in Panama. Panama imports Passenger and Cargo Ships primarily from: Japan ($3.37B), China ($295M), Germany ($69.7M), Denmark ($27.1M), and France ($9.14M).

The fastest growing import markets in Passenger and Cargo Ships for Panama between 2022 and 2023 were Japan ($590M), Germany ($69.7M), and Gabon ($8.82M).

Latest Trends

Dec 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 Passenger and Cargo Ships. 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 (2023)$342M
IMPORTS (2023)$3.8B
NET TRADE (2023)-$3.46B

In 2023, Panama exported $342M in Passenger and Cargo Ships. The main destinations of Panama exports on Passenger and Cargo Ships were Denmark ($164M), Japan ($121M), Thailand ($18M), Germany ($16.2M), and Indonesia ($15.1M).

In 2023, Panama imported $3.8B in Passenger and Cargo Ships, mainly from Japan ($3.37B), China ($295M), Germany ($69.7M), Denmark ($27.1M), and France ($9.14M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Passenger and Cargo Ships EXPORT MARKETS FOR Panama WERE (2022 - 2023):
Denmark$20.2M (14.1%)
Thailand$13.9M (340%)
Indonesia$11.3M (297%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Passenger and Cargo Ships BY Panama WERE (2022 - 2023):
South Korea-$239M (-100%)
Poland-$60.6M (-97.9%)
Germany-$60.5M (-78.8%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Panama's main exporting competitors in Passenger and Cargo Ships were:
China $18.1B
Japan $9.72B
Germany $3.54B
In 2023, Panama's main importing competitors in Passenger and Cargo Ships were:

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Trade Value of Passenger and Cargo Ships by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $4.61M
TOP IMPORT POTENTIALItaly+ $9.29M

Passenger and Cargo Ships’s highest export potential is India. With an export gap of $4.61M.   Passenger and Cargo Ships’s highest import potential is Italy with an import gap of $9.29M.

See methodology.

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