Israel (ISR) and Panama (PAN) Trade | The Observatory of Economic Complexity

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Israel-Panama Trade: In 2023, Israel exported $13.8M to Panama. The main products that Israel exported to Panama were Perfumes ($1.61M), Medical Instruments ($1.49M), and Instructional Models ($869k). Over the past 5 years the exports of Israel to Panama have decreased at an annualized rate of 6.38%, from $19.2M in 2018 to $13.8M in 2023.

In 2012, Israel exported services to Panama worth $56.6M, with Computer and information services ($56.6M) being the largest in terms of value.

Panama-Israel Trade: In 2023, Panama exported $2.49M to Israel. The main products that Panama exported to Israel were Rubber Footwear ($716k), Knit Women's Undergarments ($391k), and Leather Footwear ($380k). Over the past 5 years the exports of Panama to Israel have decreased at an annualized rate of 0.69%, from $2.63M in 2018 to $2.49M in 2023.

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

Comparison: In 2023, Israel ranked 19 in the Economic Complexity Index (ECI 1.28), and 49 in total exports ($69.3B). 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, Israel exported $13.8M to Panama. The main products exported from Israel to Panama were Perfumes ($1.61M), Medical Instruments ($1.49M), and Instructional Models ($869k). During the last 5 years the exports of Israel to Panama have decreased at an annualized rate of 6.38%, from $19.2M in 2018 to $13.8M in 2023.

In 2018, Panama exported $2.49M to Israel. The main products exported from Panama to Israel were Rubber Footwear ($716k), Knit Women's Undergarments ($391k), and Leather Footwear ($380k). During the last 5 years the exports of Panama to Israel have decreased at an annualized rate of 0.69%, from $2.63M in 2023 to $2.49M in 2018.

Exports from Israel () to Panama () (2023)

Exports from Panama () to Israel () (2023)

Latest Data

Trade between Israel () and Panama ()

Israel Exports

Date

Panama Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Israel
Top DestinationUnited States$20.3B

Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from Israel than Panama included United States ($20.3B), China ($7.09B), and Ireland ($4.22B).

In 2023, countries that imported more from Panama than Israel included Costa Rica ($307M), Denmark ($239M), and Dominican Republic ($148M).

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

Comparative Advantage Israel - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Israel had a large net trade with Panama in the exports of Chemical Products ($4.6M), Instruments ($3.53M), and Machines ($2.6M).

During 2018, Panama had a large net trade with Israel in the exports of Footwear and Headwear ($1.47M), Textiles ($660k), and Instruments ($173k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Israel Panama+$1.31MMedical Instruments

Top Product Potential Panama Israel+$154kLeather Footwear

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

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Historical Data

Bilateral Trade by Products

Exports from Israel () to Panama () (2023)

Exports from Panama () to Israel () (2023)

Latest Data

Trade between Israel () and Panama ()

Israel Exports

Panama Exports

Market Competitiveness

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

Comparative Advantage Israel - Panama

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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