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2023
Flag → Flag
Exports $229MRnk 33 / 183
2023
Flag → Flag
Top Product $56.5MRefined Petroleum
2023
Flag → Flag
Exports $51MRnk 22 / 146
2023
Flag → Flag
Top Product $4.67MHard Liquor
2023
Flag
Economic Complexity (ECI) ECI -0.2Rnk 72 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.14Rnk 69 / 132
2023
Flag  
GDP$336BCURRENT US$
Rnk 46 / 195
2013-2023
Flag
GDP GROWTH21%CURRENT US$
Rnk 139 / 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 $17,068CURRENT US$
Rnk 68 / 195
2013-2023
Flag
GDP PC GROWTH8.83%CURRENT US$
Rnk 137 / 195
2023
Flag
GDP PC$18,686CURRENT US$
Rnk 65 / 196
2013-2023
Flag
GDP PC GROWTH52.3%CURRENT US$
Rnk 43 / 195

About

Chile-Panama Trade: In 2023, Chile exported $229M to Panama. The main products that Chile exported to Panama were Refined Petroleum ($56.5M), Fish Fillets ($13.9M), and Stone Processing Machines ($9.87M). Over the past 5 years the exports of Chile to Panama have decreased at an annualized rate of 1.09%, from $241M in 2018 to $229M in 2023.

In 2009, Chile exported services to Panama worth $31.9M, with Transportation ($20.6M) and Other business services ($11.3M) being the largest in terms of value.

Panama-Chile Trade: In 2023, Panama exported $51M to Chile. The main products that Panama exported to Chile were Hard Liquor ($4.67M), Perfumes ($3.88M), and Microphones and Headphones ($3.71M). Over the past 5 years the exports of Panama to Chile have decreased at an annualized rate of 11.2%,  from $92.3M in 2018 to $51M in 2023.

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

Comparison: In 2023,  Chile ranked 72 in the Economic Complexity Index (ECI -0.2), and 43 in total exports ($98.9B). That same year, Panama ranked 69 in the Economic Complexity Index (ECI -0.14), and 121 in total exports ($6.59B).

Latest Trends

November, 2024

About

Overview In November 2024, Chile exported $18.9M and imported $39.1M from Panama, resulting in a negative trade balance of $20.1M. Between November 2023 and November 2024 the exports of Chile have increased by $9.43M (99.3%) from $9.49M to $18.9M, while imports decreased by $-57.8M (-59.7%) from $96.8M to $39.1M.

Trade In November 2024, the top exports of Chile to Panama were Commodities not elsewhere specified ($2.99M), Fish Fillets ($1.82M), Malt ($746k), Stone Processing Machines ($713k), and Animal Food ($528k). In November 2024 the top imports of Chile from Panama were Industrial Printers ($13.9M), Computers ($6.17M), Non-Knit Men's Suits ($5.96M), Knit Women's Suits ($5.25M), and Knit Sweaters ($5.24M).

Origins In November 2024 the exports of Chile were mainly from Puerto Montt ($8.21M), Las Condes ($3.51M), San Bernardo ($1.12M), Cerrillos ($622k), and Vitacura ($572k), while imports destinations were mainly Las Condes ($17.8M), Providencia ($6.31M), Huechuraba ($5.4M), Santiago ($4.7M), and Puerto Montt ($807k).

Growth In November 2024, the increase in Chile's year-by-year exports to Panama was explained primarily by an increase in product exports in Stone Processing Machines ($703k or 7.03k%), Animal Food ($218k or 70.1%), and Other Edible Preparations ($195k or 86.5%). In November 2024, the decrease in Chile's year-by-year imports  from Panama was explained primarily by an decrease in product imports  in Knit Sweaters ($-79.4M or -93.8%), Computers ($-12.8M or -67.4%), and Beauty Products ($-7.6M or -98.4%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)$9.43M(99.3%)
IMPORT GROWTH (November 2023 - November 2024)$-57.8M(-59.7%)
MAIN EXPORTER (November 2024)Puerto Montt$8.21M

This section shows exports and imports data at subnational level for Chile. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Chile over time.

To check Panama and Chile trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Panama and Chile Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Chile exported $229M to Panama. The main products exported from Chile to Panama were Refined Petroleum ($56.5M), Fish Fillets ($13.9M), and Stone Processing Machines ($9.87M). During the last 5 years the exports of Chile to Panama have decreased at an annualized rate of 1.09%, from $241M in 2018 to $229M in 2023.

In 2018, Panama exported $51M to Chile. The main products exported from Panama to Chile were Hard Liquor ($4.67M), Perfumes ($3.88M), and Microphones and Headphones ($3.71M). During the last 5 years the exports of Panama to Chile have decreased at an annualized rate of 11.2%, from $92.3M in 2023 to $51M in 2018.

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

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

Market Competitiveness

Color
Chile
Top DestinationChina$38.2B
Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from Chile than Panama included China ($38.2B), United States ($15.7B), and Japan ($7.1B).

In 2023, countries that imported more from Panama than Chile included Gabon ($121M), Guyana ($81.3M), and Jamaica ($87.1M).

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

Comparative Advantage Chile - Panama

Flow
Scale

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

During 2023, Chile had a large net trade with Panama in the exports of Mineral Products ($61.3M), Metals ($34.1M), and Foodstuffs ($27.8M).

During 2018, Panama had a large net trade with Chile in the exports of Machines ($11.4M), Textiles ($6.66M), and Foodstuffs ($6.27M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Chile Panama+$1.72MCrude Petroleum
Top Product Potential Panama Chile+$5.82MRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

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

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

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