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2022
Flag → Flag
Exports $470MRnk 67 / 224
2022
Flag → Flag
Top Product $234MHard Liquor
2022
Flag → Flag
Exports $47MRnk 29 / 153
2022
Flag → Flag
Top Product $21.6MBananas
2022
Flag
Economic Complexity (ECI) ECI 1.42Rnk 12 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.17Rnk 56 / 133
2022
Flag  
GDP$3.07TCURRENT US$
Rnk 6 / 186
2012-2022
Flag
GDP GROWTH13.5%CURRENT US$
Rnk 139 / 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 $45,850CURRENT US$
Rnk 23 / 186
2012-2022
Flag
GDP PC GROWTH7.92%CURRENT US$
Rnk 122 / 186
2022
Flag
GDP PC$17,358CURRENT US$
Rnk 59 / 186
2012-2022
Flag
GDP PC GROWTH61.2%CURRENT US$
Rnk 26 / 186

About

United Kingdom-Panama Trade: In 2022, United Kingdom exported $470M to Panama. The main products that United Kingdom exported to Panama were Hard Liquor ($234M), Crude Petroleum ($54.3M), and Refined Petroleum ($41.4M). Over the past 5 years the exports of United Kingdom to Panama have increased at an annualized rate of 19.8%, from $190M in 2017 to $470M in 2022.

In 2022, United Kingdom did not export any services to Panama.

Panama-United Kingdom Trade: In 2022, Panama exported $47M to United Kingdom. The main products that Panama exported to United Kingdom were Bananas ($21.6M), Hard Liquor ($6.67M), and Soybean Meal ($6.01M). Over the past 5 years the exports of Panama to United Kingdom have increased at an annualized rate of 7.85%,  from $32.2M in 2017 to $47M in 2022.

In 2022, Panama did not export any services to United Kingdom.

Comparison: In 2022,  United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B). That same year, Panama ranked 56 in the Economic Complexity Index (ECI 0.17), and 119 in total exports ($6.62B).

Latest Trends

August, 2024

About

Overview In August 2024, United Kingdom exported £6.31M and imported £1.18M from Panama, resulting in a positive trade balance of £5.13M. Between August 2023 and August 2024 the exports of United Kingdom have decreased by £-11.6M (-64.8%) from £17.9M to £6.31M, while imports decreased by £-557k (-32.1%) from £1.74M to £1.18M.

Trade In August 2024, the top exports of United Kingdom to Panama were Hard Liquor (£2.8M), Packaged Medicaments (£1.83M), Cars (£1.63M), Delivery Trucks (£392k), and Air Pumps (£114k). In August 2024 the top imports of United Kingdom from Panama were Hard Liquor (£1.57M), Bananas (£1.29M), Plywood (£176k), Wine (£41.1k), and Frozen Fruits and Nuts (£25.5k).

Origins In August 2024 the exports of United Kingdom were mainly from London Gateway (£1.81M), Manchester Airport (£1.74M), Immingham (£1.11M), Southampton (£587k), and London Heathrow Airport (£390k), while imports destinations were mainly Medway (£752k), Southampton (£181k), London Gateway (£113k), London Heathrow Airport (£81.5k), and East Midlands Airport (£21k).

Growth In August 2024, the decrease in United Kingdom's year-by-year exports to Panama was explained primarily by an decrease in product exports in Hard Liquor (£-13.3M or -82.7%), Packaged Medicaments (£-1.42M or -43.6%), and Other Plastic Products (£-264k or -98.5%). In August 2024, the decrease in United Kingdom's year-by-year imports  from Panama was explained primarily by an decrease in product imports  in Bananas (£-310k or -19.4%) and Paintings (£-10.3k or -68%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)£-11.6M(-64.8%)
IMPORT GROWTH (August 2023 - August 2024)£-557k(-32.1%)
MAIN EXPORTER (August 2024)London Gateway£1.81M

This section shows exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United Kingdom over time.

To check Panama and United Kingdom trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Panama and United Kingdom Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, United Kingdom exported $470M to Panama. The main products exported from United Kingdom to Panama were Hard Liquor ($234M), Crude Petroleum ($54.3M), and Refined Petroleum ($41.4M). During the last 5 years the exports of United Kingdom to Panama have increased at an annualized rate of 19.8%, from $190M in 2017 to $470M in 2022.

In 2017, Panama exported $47M to United Kingdom. The main products exported from Panama to United Kingdom were Bananas ($21.6M), Hard Liquor ($6.67M), and Soybean Meal ($6.01M). During the last 5 years the exports of Panama to United Kingdom have increased at an annualized rate of 7.85%, from $32.2M in 2022 to $47M in 2017.

Exports from United Kingdom (Flag) to Panama (Flag) (2022)

Exports from Panama (Flag) to United Kingdom (Flag) (2022)

Market Competitiveness

Color
United Kingdom
Top DestinationUnited States$61.8B
Panama
Top DestinationChina$1.14B

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

In 2022, countries that imported more from United Kingdom than Panama included United States ($61.8B), Netherlands ($41.9B), and Germany ($40.6B).

In 2022, countries that imported more from Panama than United Kingdom included Costa Rica ($242M), Guatemala ($148M), and Aruba ($43.4M).

Difference in imports from Panama (Flag) and United Kingdom (Flag) (2022)

Comparative Advantage United Kingdom - Panama

Flow
Scale

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

During 2022, United Kingdom had a large net trade with Panama in the exports of Foodstuffs ($236M), Mineral Products ($96M), and Machines ($39.4M).

During 2017, Panama had a large net trade with United Kingdom in the exports of Vegetable Products ($26.8M), Foodstuffs ($13.9M), and Machines ($2.33M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential United Kingdom Panama+$46MRefined Petroleum
Top Product Potential Panama United Kingdom+$1.65MHard 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 United Kingdom and Panama. This means that a dot/product with the flag of United Kingdom indicates it has a comparative advantage over Panama. Similarly, a dot/product with the flag of Panama indicates it has a comparative advantage over United Kingdom.

Product Space of United Kingdom (Flag) and Panama (Flag) (2022)

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