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2023
Flag → Flag
Exports $3.74BRnk 30 / 211
2023
Flag → Flag
Top Product $3.37BPassenger and Cargo Ships
2023
Flag → Flag
Exports $653MRnk 2 / 146
2023
Flag → Flag
Top Product $503MCopper Ore
2023
Flag
Economic Complexity (ECI) ECI 2.07Rnk 1 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.14Rnk 69 / 132
2023
Flag  
GDP$4.2TCURRENT US$
Rnk 4 / 195
2013-2023
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GDP GROWTH-19.3%CURRENT US$
Rnk 190 / 195
2023
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 GDP$83.3BCURRENT US$
Rnk 76 / 195
2013-2023
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GDP GROWTH77.5%CURRENT US$
Rnk 32 / 195
2023
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GDP PC $33,767CURRENT US$
Rnk 38 / 195
2013-2023
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GDP PC GROWTH-17.4%CURRENT US$
Rnk 176 / 195
2023
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GDP PC$18,686CURRENT US$
Rnk 65 / 196
2013-2023
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GDP PC GROWTH52.3%CURRENT US$
Rnk 43 / 195

About

Japan-Panama Trade: In 2023, Japan exported $3.74B to Panama. The main products that Japan exported to Panama were Passenger and Cargo Ships ($3.37B), Cars ($131M), and Large Construction Vehicles ($31.5M). Over the past 5 years the exports of Japan to Panama have decreased at an annualized rate of 8.68%, from $5.89B in 2018 to $3.74B in 2023.

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

Panama-Japan Trade: In 2023, Panama exported $653M to Japan. The main products that Panama exported to Japan were Copper Ore ($503M), Passenger and Cargo Ships ($121M), and Integrated Circuits ($9.94M). Over the past 5 years the exports of Panama to Japan have increased at an annualized rate of 32.5%,  from $160M in 2018 to $653M in 2023.

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

Comparison: In 2023,  Japan ranked 1 in the Economic Complexity Index (ECI 2.07), and 4 in total exports ($766B). That same year, Panama ranked 69 in the Economic Complexity Index (ECI -0.14), and 121 in total exports ($6.59B).

Latest Trends

November, 2024

About

Overview In November 2024, Japan exported ¥81.6B and imported ¥383M from Panama, resulting in a positive trade balance of ¥81.2B. Between November 2023 and November 2024 the exports of Japan have increased by ¥35.1B (75.6%) from ¥46.5B to ¥81.6B, while imports decreased by ¥-8.65B (-95.8%) from ¥9.03B to ¥383M.

Trade In November 2024, the top exports of Japan to Panama were Passenger and Cargo Ships (¥45.8B), Large Construction Vehicles (¥1.91B), Cars (¥1.07B), Delivery Trucks (¥632M), and Motor vehicles; parts and accessories (8701... (¥369M). In November 2024 the top imports of Japan from Panama were Copper Ore (¥7.3B), Commodities not elsewhere specified (¥4.18B), Passenger and Cargo Ships (¥4.18B), E-waste and scrap (¥118M), and Scrap Copper (¥42.3M).

Origins In November 2024 the exports of Japan were mainly from Kagawa (¥27B), Ehime (¥18.2B), Ōita (¥11.1B), Hiroshima (¥10.6B), and Nagasaki (¥4.54B), while imports destinations were mainly Tokyo (¥94.4M), Kanagawa (¥90.1M), Ehime (¥79M), Hyōgo (¥51.6M), and Aichi (¥29.6M).

Growth In November 2024, the increase in Japan's year-by-year exports to Panama was explained primarily by an increase in product exports in Passenger and Cargo Ships (¥18.5B or 67.5%), Large Construction Vehicles (¥1.12B or 143%), and Cars (¥341M or 46.9%). In November 2024, the decrease in Japan's year-by-year imports  from Panama was explained primarily by an decrease in product imports  in Other Pure Vegetable Oils (¥-35.6M or -54.2%), E-waste and scrap (¥-8.73M or -6.88%), and Plant foliage (¥-310k or -9.93%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)¥35.1B(75.6%)
IMPORT GROWTH (November 2023 - November 2024)¥-8.65B(-95.8%)
MAIN EXPORTER (November 2024)Kagawa¥27B

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

To check Panama and Japan trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Panama and Japan Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Japan exported $3.74B to Panama. The main products exported from Japan to Panama were Passenger and Cargo Ships ($3.37B), Cars ($131M), and Large Construction Vehicles ($31.5M). During the last 5 years the exports of Japan to Panama have decreased at an annualized rate of 8.68%, from $5.89B in 2018 to $3.74B in 2023.

In 2018, Panama exported $653M to Japan. The main products exported from Panama to Japan were Copper Ore ($503M), Passenger and Cargo Ships ($121M), and Integrated Circuits ($9.94M). During the last 5 years the exports of Panama to Japan have increased at an annualized rate of 32.5%, from $160M in 2023 to $653M in 2018.

Exports from Japan (Flag) to Panama (Flag) (2023)

Exports from Panama (Flag) to Japan (Flag) (2023)

Market Competitiveness

Color
Japan
Top DestinationUnited States$143B
Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from Japan than Panama included United States ($143B), China ($138B), and Chinese Taipei ($43B).

In 2023, countries that imported more from Panama than Japan included Aruba ($35M), Gabon ($121M), and British Indian Ocean Territory ($1.53M).

Difference in imports from Panama (Flag) and Japan (Flag) (2023)

Comparative Advantage Japan - Panama

Flow
Scale

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

During 2023, Japan had a large net trade with Panama in the exports of Transportation ($3.59B), Machines ($103M), and Plastics and Rubbers ($15.8M).

During 2018, Panama had a large net trade with Japan in the exports of Mineral Products ($504M), Transportation ($121M), and Machines ($10.4M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Japan Panama+$35.6MCars
Top Product Potential Panama Japan+$2.53MNon-fillet Frozen Fish

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

Product Space of Japan (Flag) and Panama (Flag) (2023)

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