Denmark (DNK) and Panama (PAN) Trade | The Observatory of Economic Complexity

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Denmark-Panama Trade: In 2023, Denmark exported $180M to Panama. The main products that Denmark exported to Panama were Coal Tar Oil ($95.7M), Passenger and Cargo Ships ($27.1M), and Other Prepared Meat ($10.8M). Over the past 5 years the exports of Denmark to Panama have increased at an annualized rate of 18%, from $78.7M in 2018 to $180M in 2023.

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

Panama-Denmark Trade: In 2023, Panama exported $239M to Denmark. The main products that Panama exported to Denmark were Passenger and Cargo Ships ($164M), Fish Oil ($66.2M), and Fuel Wood ($7.14M). Over the past 5 years the exports of Panama to Denmark have increased at an annualized rate of 75.1%, from $14.5M in 2018 to $239M in 2023.

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

Comparison: In 2023, Denmark ranked 22 in the Economic Complexity Index (ECI 1.13), and 37 in total exports ($118B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Denmark exported $180M to Panama. The main products exported from Denmark to Panama were Coal Tar Oil ($95.7M), Passenger and Cargo Ships ($27.1M), and Other Prepared Meat ($10.8M). During the last 5 years the exports of Denmark to Panama have increased at an annualized rate of 18%, from $78.7M in 2018 to $180M in 2023.

In 2018, Panama exported $239M to Denmark. The main products exported from Panama to Denmark were Passenger and Cargo Ships ($164M), Fish Oil ($66.2M), and Fuel Wood ($7.14M). During the last 5 years the exports of Panama to Denmark have increased at an annualized rate of 75.1%, from $14.5M in 2023 to $239M in 2018.

Exports from Denmark () to Panama () (2023)

Exports from Panama () to Denmark () (2023)

Latest Data

Trade between Denmark () and Panama ()

Denmark Exports

Date

Panama Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Denmark
Top DestinationGermany$14.8B

Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from Denmark than Panama included Germany ($14.8B), United States ($12B), and Sweden ($11.2B).

In 2023, countries that imported more from Panama than Denmark included Costa Rica ($307M), Gabon ($121M), and Jamaica ($87.1M).

Difference in imports from Panama () and Denmark () (2023)

Comparative Advantage Denmark - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Denmark had a large net trade with Panama in the exports of Mineral Products ($95.7M), Transportation ($28.2M), and Foodstuffs ($19.2M).

During 2018, Panama had a large net trade with Denmark in the exports of Transportation ($164M), Animal and Vegetable Bi-Products ($66.2M), and Wood Products ($7.28M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Denmark Panama+$5.47MPackaged Medicaments

Top Product Potential Panama Denmark+$249kHard Liquor

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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Denmark () to Panama () (2023)

Exports from Panama () to Denmark () (2023)

Latest Data

Trade between Denmark () and Panama ()

Denmark Exports

Panama Exports

Market Competitiveness

Difference in imports from Panama () and Denmark () (2023)

Comparative Advantage Denmark - Panama

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Denmark () and Panama () (2023)

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