Honduras (HND) and Panama (PAN) Trade | The Observatory of Economic Complexity

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Honduras-Panama Trade: In 2023, Honduras exported $44.6M to Panama. The main products that Honduras exported to Panama were Animal Food ($25.5M), Sawn Wood ($2.51M), and Plastic Lids ($2.41M). Over the past 5 years the exports of Honduras to Panama have decreased at an annualized rate of 1.95%, from $49.2M in 2018 to $44.6M in 2023.

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

Panama-Honduras Trade: In 2023, Panama exported $69.4M to Honduras. The main products that Panama exported to Honduras were Refined Petroleum ($24M), Packaged Medicaments ($8.48M), and Aluminium Cans ($7.32M). Over the past 5 years the exports of Panama to Honduras have decreased at an annualized rate of 8.91%, from $111M in 2018 to $69.4M in 2023.

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

Comparison: In 2023, Honduras ranked 88 in the Economic Complexity Index (ECI -0.53), and 95 in total exports ($11.9B). 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, Honduras exported $44.6M to Panama. The main products exported from Honduras to Panama were Animal Food ($25.5M), Sawn Wood ($2.51M), and Plastic Lids ($2.41M). During the last 5 years the exports of Honduras to Panama have decreased at an annualized rate of 1.95%, from $49.2M in 2018 to $44.6M in 2023.

In 2018, Panama exported $69.4M to Honduras. The main products exported from Panama to Honduras were Refined Petroleum ($24M), Packaged Medicaments ($8.48M), and Aluminium Cans ($7.32M). During the last 5 years the exports of Panama to Honduras have decreased at an annualized rate of 8.91%, from $111M in 2023 to $69.4M in 2018.

Exports from Honduras () to Panama () (2023)

Exports from Panama () to Honduras () (2023)

Latest Data

Trade between Honduras () and Panama ()

Honduras Exports

Date

Panama Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Honduras
Top DestinationUnited States$5.87B

Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from Honduras than Panama included United States ($5.87B), Nicaragua ($980M), and El Salvador ($796M).

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

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

Comparative Advantage Honduras - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Honduras had a large net trade with Panama in the exports of Foodstuffs ($27.4M), Plastics and Rubbers ($3.27M), and Wood Products ($2.58M).

During 2018, Panama had a large net trade with Honduras in the exports of Mineral Products ($24.1M), Chemical Products ($12.3M), and Metals ($7.98M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Honduras Panama+$1.18MRolled Tobacco

Top Product Potential Panama Honduras+$365kRefined 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.

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Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Honduras () to Panama () (2023)

Exports from Panama () to Honduras () (2023)

Latest Data

Trade between Honduras () and Panama ()

Honduras Exports

Panama Exports

Market Competitiveness

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

Comparative Advantage Honduras - Panama

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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