Oman (OMN) and Panama (PAN) Trade | The Observatory of Economic Complexity

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Oman-Panama Trade: In 2023, Oman exported $1.32M to Panama. The main products that Oman exported to Panama were Motor vehicles; parts and accessories (8701 to 8705) ($773k), Concentrated Milk ($221k), and Engine Parts ($162k). Over the past 5 years the exports of Oman to Panama have decreased at an annualized rate of 9.02%, from $2.12M in 2018 to $1.32M in 2023.

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

Panama-Oman In N/A, Panama did not export any products to Oman.

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

Comparison: In 2023, Oman ranked 76 in the Economic Complexity Index (ECI -0.32), and 48 in total exports ($70.5B). 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, Oman exported $1.32M to Panama. The main products exported from Oman to Panama were Motor vehicles; parts and accessories (8701 to 8705) ($773k), Concentrated Milk ($221k), and Engine Parts ($162k). During the last 5 years the exports of Oman to Panama have decreased at an annualized rate of 9.02%, from $2.12M in 2018 to $1.32M in 2023.

Panama does not register exports to Oman. The main products exported from Panama to Oman were Coffee ($14.4k), Other Plastic Products ($12.8k), and Boat Propellers ($1.8k).

Exports from Oman () to Panama () (2023)

Exports from Panama () to Oman () (2023)

Latest Data

Trade between Oman () and Panama ()

Oman Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Oman
Top DestinationChina$30.2B

Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from Oman than Panama included China ($30.2B), India ($4.5B), and Saudi Arabia ($3.64B).

In 2023, countries that imported more from Panama than Oman included Costa Rica ($307M), Denmark ($239M), and Gabon ($121M).

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

Comparative Advantage Oman - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Oman had a large net trade with Panama in the exports of Transportation ($773k), Animal Products ($223k), and Machines ($217k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Oman Panama+$496kMotor vehicles; parts and accessories (8701 to 8705)

Top Product Potential Panama Oman+$17.4kCoffee

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

About

Historical Data

Bilateral Trade by Products

Exports from Oman () to Panama () (2023)

Exports from Panama () to Oman () (2023)

Latest Data

Trade between Oman () and Panama ()

Oman Exports

Market Competitiveness

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

Comparative Advantage Oman - Panama

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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