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2023
Flag → Flag
Exports $1.05MRnk 40 / 139
2023
Flag → Flag
Top Product $725kPaper Labels
2023
Flag → Flag
Exports $48.4MRnk 23 / 146
2023
Flag → Flag
Top Product $22.6MPackaged Medicaments
2023
Flag
Economic Complexity (ECI) ECI -0.14Rnk 69 / 132
2023
Flag  
GDP$6.72BCURRENT US$
Rnk 156 / 195
2013-2023
Flag
GDP GROWTH25.4%CURRENT US$
Rnk 124 / 195
2023
Flag
 GDP$83.3BCURRENT US$
Rnk 76 / 195
2013-2023
Flag
GDP GROWTH77.5%CURRENT US$
Rnk 32 / 195
2023
Flag
GDP PC $23,804CURRENT US$
Rnk 52 / 195
2013-2023
Flag
GDP PC GROWTH23.3%CURRENT US$
Rnk 93 / 195
2023
Flag
GDP PC$18,686CURRENT US$
Rnk 65 / 196
2013-2023
Flag
GDP PC GROWTH52.3%CURRENT US$
Rnk 43 / 195

About

Barbados-Panama Trade: In 2023, Barbados exported $1.05M to Panama. The main products that Barbados exported to Panama were Paper Labels ($725k), Hard Liquor ($171k), and Pesticides ($68.7k). Over the past 5 years the exports of Barbados to Panama have decreased at an annualized rate of 18.5%, from $2.91M in 2018 to $1.05M in 2023.

In 2023, Barbados did not export any services to Panama.

Panama-Barbados Trade: In 2023, Panama exported $48.4M to Barbados. The main products that Panama exported to Barbados were Packaged Medicaments ($22.6M), Cars ($2.98M), and Cellulose Fibers Paper ($2.29M). Over the past 5 years the exports of Panama to Barbados have increased at an annualized rate of 26.5%,  from $15M in 2018 to $48.4M in 2023.

In 2023, Panama did not export any services to Barbados.

Comparison In 2023,  Barbados ranked 171 in total exports ($421M), and does not have data regarding Economic Complexity Index. That same year, Panama ranked 69 in the Economic Complexity Index (ECI -0.14), and 121 in total exports ($6.59B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Barbados exported $1.05M to Panama. The main products exported from Barbados to Panama were Paper Labels ($725k), Hard Liquor ($171k), and Pesticides ($68.7k). During the last 5 years the exports of Barbados to Panama have decreased at an annualized rate of 18.5%, from $2.91M in 2018 to $1.05M in 2023.

In 2018, Panama exported $48.4M to Barbados. The main products exported from Panama to Barbados were Packaged Medicaments ($22.6M), Cars ($2.98M), and Cellulose Fibers Paper ($2.29M). During the last 5 years the exports of Panama to Barbados have increased at an annualized rate of 26.5%, from $15M in 2023 to $48.4M in 2018.

Exports from Barbados (Flag) to Panama (Flag) (2023)

Exports from Panama (Flag) to Barbados (Flag) (2023)

Latest Data

Trade between Barbados (Flag) and Panama (Flag)

Barbados Exports

Panama Exports

Market Competitiveness

Color
Barbados
Top DestinationUnited States$91M
Panama
Top DestinationChina$1.62B

This map shows whether countries import more from Barbados or Panama. Each country is colored based on the difference in imports they receive from Barbados and Panama or the difference in the growth in imports.

In 2023, countries that imported more from Barbados than Panama included Trinidad and Tobago ($33.7M), Saint Lucia ($19.5M), and Saint Vincent and the Grenadines ($10.9M).

In 2023, countries that imported more from Panama than Barbados included China ($1.62B), Japan ($653M), and Thailand ($346M).

Difference in imports from Panama (Flag) and Barbados (Flag) (2023)

Comparative Advantage Barbados - Panama

Flow
Scale

This chart compares trade between Barbados and Panama by product, considering products traded by both, Barbados and Panama.

During 2023, Barbados had a large net trade with Panama in the exports of Paper Goods ($725k), Foodstuffs ($187k), and Chemical Products ($122k).

During 2018, Panama had a large net trade with Barbados in the exports of Chemical Products ($25.8M), Machines ($4.47M), and Transportation ($3.44M).

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Barbados and Panama. This means that a dot/product with the flag of Barbados indicates it has a comparative advantage over Panama. Similarly, a dot/product with the flag of Panama indicates it has a comparative advantage over Barbados.

Product Space of Barbados (Flag) and Panama (Flag) (2023)

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