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2023
Flag → Flag
Exports $1.79MRnk 44 / 121
2023
Flag → Flag
Top Product $1.57MPackaged Medicaments
2023
Flag → Flag
Exports $9.62MRnk 52 / 146
2023
Flag → Flag
Top Product $3.68MIron Structures
2023
Flag
Economic Complexity (ECI) ECI -0.42Rnk 82 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.14Rnk 69 / 132
2023
Flag
 GDP$83.3BCURRENT US$
Rnk 76 / 195
2013-2023
Flag
GDP GROWTH77.5%CURRENT US$
Rnk 32 / 195
2023
Flag
GDP PC$18,686CURRENT US$
Rnk 65 / 196
2013-2023
Flag
GDP PC GROWTH52.3%CURRENT US$
Rnk 43 / 195

About

Cuba-Panama Trade: In 2023, Cuba exported $1.79M to Panama. The main products that Cuba exported to Panama were Packaged Medicaments ($1.57M), Paintings ($117k), and Frozen Fruits and Nuts ($32.2k). Over the past 5 years the exports of Cuba to Panama have decreased at an annualized rate of 19%, from $5.12M in 2018 to $1.79M in 2023.

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

Panama-Cuba Trade: In 2023, Panama exported $9.62M to Cuba. The main products that Panama exported to Cuba were Iron Structures ($3.68M), Wheat Flours ($1.93M), and Fruit Juice ($919k). Over the past 5 years the exports of Panama to Cuba have decreased at an annualized rate of 38.1%,  from $106M in 2018 to $9.62M in 2023.

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

Comparison: In 2023,  Cuba ranked 82 in the Economic Complexity Index (ECI -0.42), and 159 in total exports ($1.05B). 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, Cuba exported $1.79M to Panama. The main products exported from Cuba to Panama were Packaged Medicaments ($1.57M), Paintings ($117k), and Frozen Fruits and Nuts ($32.2k). During the last 5 years the exports of Cuba to Panama have decreased at an annualized rate of 19%, from $5.12M in 2018 to $1.79M in 2023.

In 2018, Panama exported $9.62M to Cuba. The main products exported from Panama to Cuba were Iron Structures ($3.68M), Wheat Flours ($1.93M), and Fruit Juice ($919k). During the last 5 years the exports of Panama to Cuba have decreased at an annualized rate of 38.1%, from $106M in 2023 to $9.62M in 2018.

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

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

Latest Data

Trade between Cuba (Flag) and Panama (Flag)

Panama Exports

Market Competitiveness

Color
Cuba
Top DestinationChina$358M
Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from Cuba than Panama included Cyprus ($42.5M), Macau ($29.2M), and Belgium ($25.1M).

In 2023, countries that imported more from Panama than Cuba included China ($1.62B), Japan ($653M), and United States ($385M).

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

Comparative Advantage Cuba - Panama

Flow
Scale

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

During 2023, Cuba had a large net trade with Panama in the exports of Chemical Products ($1.57M), Arts and Antiques ($119k), and Vegetable Products ($32.2k).

During 2018, Panama had a large net trade with Cuba in the exports of Metals ($3.69M), Foodstuffs ($1.95M), and Vegetable Products ($1.93M).

Economic Complexity

Competitive Landscape

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

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

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