Finland (FIN) and Panama (PAN) Trade | The Observatory of Economic Complexity

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Finland-Panama Trade: In 2022, Finland exported $19.6M to Panama. The main products that Finland exported to Panama were Medical Instruments ($3.67M), Mixed Mineral or Chemical Fertilizers ($2.49M), and Stone Processing Machines ($2.43M). Over the past 5 years the exports of Finland to Panama have decreased at an annualized rate of 9.18%, from $31.7M in 2017 to $19.6M in 2022.

In 2022, Finland did not export any services to Panama.

Panama-Finland Trade: In 2022, Panama exported $13.8M to Finland. The main products that Panama exported to Finland were Bananas ($13.8M), Other Pure Vegetable Oils ($18.4k), and Melons ($17.8k). Over the past 5 years the exports of Panama to Finland have increased at an annualized rate of 105%, from $387k in 2017 to $13.8M in 2022.

In 2022, Panama did not export any services to Finland.

Comparison: In 2022, Finland ranked 13 in the Economic Complexity Index (ECI 1.41), and 46 in total exports ($89.9B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Finland exported $19.6M to Panama. The main products exported from Finland to Panama were Medical Instruments ($3.67M), Mixed Mineral or Chemical Fertilizers ($2.49M), and Stone Processing Machines ($2.43M). During the last 5 years the exports of Finland to Panama have decreased at an annualized rate of 9.18%, from $31.7M in 2017 to $19.6M in 2022.

In 2017, Panama exported $13.8M to Finland. The main products exported from Panama to Finland were Bananas ($13.8M), Other Pure Vegetable Oils ($18.4k), and Melons ($17.8k). During the last 5 years the exports of Panama to Finland have increased at an annualized rate of 105%, from $387k in 2022 to $13.8M in 2017.

Exports from Finland () to Panama () (2022)

Exports from Panama () to Finland () (2022)

Latest Data

Trade between Finland () and Panama ()

Finland Exports

Date

Panama Exports

Date

Jun 2017

Mar 2013

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Finland
Top DestinationGermany$9.99B

Panama
Top DestinationChina$1.14B

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

In 2022, countries that imported more from Finland than Panama included Germany ($9.99B), Sweden ($9.1B), and United States ($9.17B).

In 2022, countries that imported more from Panama than Finland included Costa Rica ($242M), Guatemala ($148M), and Jamaica ($99.7M).

Difference in imports from Panama () and Finland () (2022)

Comparative Advantage Finland - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Finland had a large net trade with Panama in the exports of Machines ($7.04M), Chemical Products ($4.42M), and Instruments ($4.08M).

During 2017, Panama had a large net trade with Finland in the exports of Vegetable Products ($13.8M), Machines ($23.1k), and Animal and Vegetable Bi-Products ($18.4k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Finland Panama+$1.41MPackaged Medicaments

Top Product Potential Panama Finland+$32.4kMelons

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 Finland and Panama. This means that a dot/product with the flag of Finland indicates it has a comparative advantage over Panama. Similarly, a dot/product with the flag of Panama indicates it has a comparative advantage over Finland.

About

Historical Data

Bilateral Trade by Products

Exports from Finland () to Panama () (2022)

Exports from Panama () to Finland () (2022)

Latest Data

Trade between Finland () and Panama ()

Finland Exports

Panama Exports

Market Competitiveness

Difference in imports from Panama () and Finland () (2022)

Comparative Advantage Finland - Panama

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Finland () and Panama () (2022)

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