Ghana (GHA) and Panama (PAN) Trade | The Observatory of Economic Complexity

About

Ghana-Panama Trade: In 2023, Ghana exported $266k to Panama. The main products that Ghana exported to Panama were Stone Processing Machines ($264k), Used Clothing ($624), and Interior Decorative Glassware ($312). Over the past 6 years the exports of Ghana to Panama have decreased at an annualized rate of 63.6%, from $114M in 2017 to $266k in 2023.

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

Panama-Ghana Trade: In 2023, Panama exported $187k to Ghana. The main products that Panama exported to Ghana were Tanned Equine and Bovine Hides ($60.5k), Sports Equipment ($22k), and Nonaqueous Paints ($13.1k). Over the past 6 years the exports of Panama to Ghana have decreased at an annualized rate of 42.1%, from $2.87M in 2017 to $187k in 2023.

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

Comparison: In 2023, Ghana ranked 109 in the Economic Complexity Index (ECI -0.97), and 71 in total exports ($27.1B). 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, Ghana exported $266k to Panama. The main products exported from Ghana to Panama were Stone Processing Machines ($264k), Used Clothing ($624), and Interior Decorative Glassware ($312). During the last 6 years the exports of Ghana to Panama have decreased at an annualized rate of 63.6%, from $114M in 2017 to $266k in 2023.

In 2018, Panama exported $187k to Ghana. The main products exported from Panama to Ghana were Tanned Equine and Bovine Hides ($60.5k), Sports Equipment ($22k), and Nonaqueous Paints ($13.1k). During the last 5 years the exports of Panama to Ghana have decreased at an annualized rate of 42.1%, from $2.87M in 2023 to $187k in 2018.

Exports from Ghana () to Panama () (2023)

Exports from Panama () to Ghana () (2023)

Latest Data

Trade between Ghana () and Panama ()

Ghana Exports

Date

Panama Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Ghana
Top DestinationSwitzerland$6.49B

Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from Ghana than Panama included Switzerland ($6.49B), United Arab Emirates ($4.93B), and India ($2.26B).

In 2023, countries that imported more from Panama than Ghana included Japan ($653M), Costa Rica ($307M), and Thailand ($346M).

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

Comparative Advantage Ghana - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Ghana had a large net trade with Panama in the exports of Machines ($264k), Textiles ($832), and Stone And Glass ($520).

During 2018, Panama had a large net trade with Ghana in the exports of Animal Hides ($72.9k), Miscellaneous ($29.9k), and Machines ($16.5k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Ghana Panama+$6.87kCrude Petroleum

Top Product Potential Panama Ghana+$2.93kRefined Petroleum

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Ghana () to Panama () (2023)

Exports from Panama () to Ghana () (2023)

Latest Data

Trade between Ghana () and Panama ()

Ghana Exports

Panama Exports

Market Competitiveness

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

Comparative Advantage Ghana - Panama

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

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

Keep Exploring