Overview: In 2018 Panama was the number 75 economy in the world in terms of GDP (current US$), the number 119 in total exports, the number 67 in total imports, and the number 61 most complex economy according to the Economic Complexity Index (ECI). In 2018, Panama exported $3.97B and imported $29.5B, resulting in a negative trade balance of -$25.5B. In 2018, Panama's exports per capita were $950 and its imports per capita were $7.07k.
Trade: The top exports of Panama are Refined Petroleum ($769M), Coal Tar Oil ($497M), Passenger and Cargo Ships ($424M), Bananas ($304M), and Gold ($248M). The top imports of Panama are Refined Petroleum ($5.62B), Crude Petroleum ($3.59B), Passenger and Cargo Ships ($1.9B), Special Purpose Ships ($1.3B), and Oxygen Amino Compounds ($941M).
Destinations: Panama exports mostly to Ecuador ($1.06B), Netherlands ($290M), United States ($256M), Costa Rica ($219M), and Cyprus ($177M), and imports mostly from China ($6.42B), United States ($5.08B), Colombia ($3.07B), South Korea ($2.01B), and Brazil ($1.91B).
Location: Panama borders Colombia and Costa Rica by land and Colombia and Ecuador by sea.