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2023
Flag → Flag
Exports $1.21MRnk 121 / 192
2023
Flag → Flag
Top Product $225kTraffic Signals
2023
Flag → Flag
Exports $1.91MRnk 78 / 146
2023
Flag → Flag
Top Product $1.65MBananas
2023
Flag
Economic Complexity (ECI) ECI -0.14Rnk 69 / 132
2023
Flag  
GDP$41.3BCURRENT US$
Rnk 101 / 195
2013-2023
Flag
GDP GROWTH62.2%CURRENT US$
Rnk 49 / 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 $30,133CURRENT US$
Rnk 47 / 195
2013-2023
Flag
GDP PC GROWTH56%CURRENT US$
Rnk 35 / 195
2023
Flag
GDP PC$18,686CURRENT US$
Rnk 65 / 196
2013-2023
Flag
GDP PC GROWTH52.3%CURRENT US$
Rnk 43 / 195

About

Estonia-Panama Trade: In 2023, Estonia exported $1.21M to Panama. The main products that Estonia exported to Panama were Traffic Signals ($225k), Other Iron Products ($176k), and Iron Structures ($140k). Over the past 5 years the exports of Estonia to Panama have increased at an annualized rate of 10.5%, from $731k in 2018 to $1.21M in 2023.

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

Panama-Estonia Trade: In 2023, Panama exported $1.91M to Estonia. The main products that Panama exported to Estonia were Bananas ($1.65M), Hard Liquor ($253k), and Low-voltage Protection Equipment ($1.63k). Over the past 5 years the exports of Panama to Estonia have increased at an annualized rate of 8.87%,  from $1.25M in 2018 to $1.91M in 2023.

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

Comparison In 2023,  Estonia ranked 79 in total exports ($20B), 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, Estonia exported $1.21M to Panama. The main products exported from Estonia to Panama were Traffic Signals ($225k), Other Iron Products ($176k), and Iron Structures ($140k). During the last 5 years the exports of Estonia to Panama have increased at an annualized rate of 10.5%, from $731k in 2018 to $1.21M in 2023.

In 2018, Panama exported $1.91M to Estonia. The main products exported from Panama to Estonia were Bananas ($1.65M), Hard Liquor ($253k), and Low-voltage Protection Equipment ($1.63k). During the last 5 years the exports of Panama to Estonia have increased at an annualized rate of 8.87%, from $1.25M in 2023 to $1.91M in 2018.

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

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

Latest Data

Trade between Estonia (Flag) and Panama (Flag)

Estonia Exports

Market Competitiveness

Color
Estonia
Top DestinationFinland$2.71B
Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from Estonia than Panama included Finland ($2.71B), Latvia ($1.91B), and Lithuania ($1.74B).

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

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

Comparative Advantage Estonia - Panama

Flow
Scale

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

During 2023, Estonia had a large net trade with Panama in the exports of Metals ($451k), Machines ($380k), and Mineral Products ($122k).

During 2018, Panama had a large net trade with Estonia in the exports of Vegetable Products ($1.66M), Foodstuffs ($253k), and Machines ($1.95k).

Economic Complexity

Competitive Landscape

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

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

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