Greece (GRC) and Panama (PAN) Trade | The Observatory of Economic Complexity

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Greece-Panama Trade: In 2022, Greece exported $182M to Panama. The main products that Greece exported to Panama were Refined Petroleum ($136M), Engine Parts ($12.9M), and Nonaqueous Paints ($6.06M). Over the past 5 years the exports of Greece to Panama have increased at an annualized rate of 11.6%, from $105M in 2017 to $182M in 2022.

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

Panama-Greece Trade: In 2022, Panama exported $4.47M to Greece. The main products that Panama exported to Greece were Passenger and Cargo Ships ($1.77M), Engine Parts ($1.44M), and Scrap Copper ($688k). Over the past 5 years the exports of Panama to Greece have decreased at an annualized rate of 17.4%, from $11.6M in 2017 to $4.47M in 2022.

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

Comparison: In 2022, Greece ranked 50 in the Economic Complexity Index (ECI 0.33), and 57 in total exports ($55.7B). 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, Greece exported $182M to Panama. The main products exported from Greece to Panama were Refined Petroleum ($136M), Engine Parts ($12.9M), and Nonaqueous Paints ($6.06M). During the last 5 years the exports of Greece to Panama have increased at an annualized rate of 11.6%, from $105M in 2017 to $182M in 2022.

In 2017, Panama exported $4.47M to Greece. The main products exported from Panama to Greece were Passenger and Cargo Ships ($1.77M), Engine Parts ($1.44M), and Scrap Copper ($688k). During the last 5 years the exports of Panama to Greece have decreased at an annualized rate of 17.4%, from $11.6M in 2022 to $4.47M in 2017.

Exports from Greece () to Panama () (2022)

Exports from Panama () to Greece () (2022)

Latest Data

Trade between Greece () and Panama ()

Greece Exports

Date

Panama Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Greece
Top DestinationItaly$5.82B

Panama
Top DestinationChina$1.14B

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

In 2022, countries that imported more from Greece than Panama included Italy ($5.82B), Bulgaria ($3.62B), and Germany ($3.45B).

In 2022, countries that imported more from Panama than Greece included China ($1.14B), Japan ($785M), and Costa Rica ($242M).

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

Comparative Advantage Greece - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Greece had a large net trade with Panama in the exports of Mineral Products ($136M), Machines ($24.2M), and Chemical Products ($7.48M).

During 2017, Panama had a large net trade with Greece in the exports of Transportation ($1.77M), Machines ($1.6M), and Metals ($878k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Greece Panama+$26.3MRefined Petroleum

Top Product Potential Panama Greece+$1.27MPassenger and Cargo Ships

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

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Historical Data

Bilateral Trade by Products

Exports from Greece () to Panama () (2022)

Exports from Panama () to Greece () (2022)

Latest Data

Trade between Greece () and Panama ()

Greece Exports

Panama Exports

Market Competitiveness

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

Comparative Advantage Greece - Panama

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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