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2022
Flag → Flag
Exports $59MRnk 26 / 163
2022
Flag → Flag
Top Product $13.4MMedical Instruments
2022
Flag → Flag
Exports $331MRnk 17 / 153
2022
Flag → Flag
Top Product $31.9MPackaged Medicaments
2022
Flag
Economic Complexity (ECI) ECI 0.052Rnk 62 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.17Rnk 56 / 133
2022
Flag  
GDP$114BCURRENT US$
Rnk 64 / 186
2012-2022
Flag
GDP GROWTH87.3%CURRENT US$
Rnk 23 / 186
2022
Flag
 GDP$76.5BCURRENT US$
Rnk 74 / 186
2012-2022
Flag
GDP GROWTH89.3%CURRENT US$
Rnk 19 / 186
2022
Flag
GDP PC $10,121CURRENT US$
Rnk 77 / 186
2012-2022
Flag
GDP PC GROWTH67.3%CURRENT US$
Rnk 19 / 186
2022
Flag
GDP PC$17,358CURRENT US$
Rnk 59 / 186
2012-2022
Flag
GDP PC GROWTH61.2%CURRENT US$
Rnk 26 / 186

About

Dominican Republic-Panama Trade: In 2022, Dominican Republic exported $59M to Panama. The main products that Dominican Republic exported to Panama were Medical Instruments ($13.4M), Packaged Medicaments ($8.67M), and Beer ($4.34M). Over the past 5 years the exports of Dominican Republic to Panama have increased at an annualized rate of 89.8%, from $2.4M in 2017 to $59M in 2022.

In 2022, Dominican Republic did not export any services to Panama.

Panama-Dominican Republic Trade: In 2022, Panama exported $331M to Dominican Republic. The main products that Panama exported to Dominican Republic were Packaged Medicaments ($31.9M), Synthetic Fabrics ($4.13M), and Special Pharmaceuticals ($3.69M). Over the past 5 years the exports of Panama to Dominican Republic have increased at an annualized rate of 178%,  from $1.99M in 2017 to $331M in 2022.

In 2022, Panama did not export any services to Dominican Republic.

Comparison: In 2022,  Dominican Republic ranked 62 in the Economic Complexity Index (ECI 0.052), and 92 in total exports ($13.8B). That same year, Panama ranked 56 in the Economic Complexity Index (ECI 0.17), and 119 in total exports ($6.62B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Dominican Republic exported $59M to Panama. The main products exported from Dominican Republic to Panama were Medical Instruments ($13.4M), Packaged Medicaments ($8.67M), and Beer ($4.34M). During the last 5 years the exports of Dominican Republic to Panama have increased at an annualized rate of 89.8%, from $2.4M in 2017 to $59M in 2022.

In 2017, Panama exported $331M to Dominican Republic. The main products exported from Panama to Dominican Republic were Packaged Medicaments ($31.9M), Synthetic Fabrics ($4.13M), and Special Pharmaceuticals ($3.69M). During the last 22 years the exports of Panama to Dominican Republic have increased at an annualized rate of 178%, from $1.99M in 1995 to $331M in 2017.

Exports from Dominican Republic (Flag) to Panama (Flag) (2022)

Exports from Panama (Flag) to Dominican Republic (Flag) (2022)

Latest Data

Trade between Dominican Republic (Flag) and Panama (Flag)

Dominican Republic Exports

Panama Exports

Market Competitiveness

Color
Dominican Republic
Top DestinationUnited States$6.85B
Panama
Top DestinationChina$1.14B

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

In 2022, countries that imported more from Dominican Republic than Panama included United States ($6.85B), Switzerland ($1.08B), and Haiti ($1.02B).

In 2022, countries that imported more from Panama than Dominican Republic included China ($1.14B), Japan ($785M), and South Korea ($539M).

Difference in imports from Panama (Flag) and Dominican Republic (Flag) (2022)

Comparative Advantage Dominican Republic - Panama

Flow
Scale

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

During 2022, Dominican Republic had a large net trade with Panama in the exports of Instruments ($13.5M), Chemical Products ($12.2M), and Foodstuffs ($10.4M).

During 2017, Panama had a large net trade with Dominican Republic in the exports of Chemical Products ($45.5M), Machines ($11.6M), and Textiles ($10.3M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Dominican Republic Panama+$1.39MMedical Instruments
Top Product Potential Panama Dominican Republic+$243kHard 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

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

Product Space of Dominican Republic (Flag) and Panama (Flag) (2022)

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