Panama (PAN) and Bolivia (BOL) Trade | The Observatory of Economic Complexity

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Panama-Bolivia Trade: In 2023, Panama exported $34.4M to Bolivia. The main products that Panama exported to Bolivia were Refined Petroleum ($30M), Hard Liquor ($1.13M), and Packaged Medicaments ($854k). Over the past 5 years the exports of Panama to Bolivia have increased at an annualized rate of 27.9%, from $10M in 2018 to $34.4M in 2023.

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

Bolivia-Panama Trade: In 2023, Bolivia exported $9.4M to Panama. The main products that Bolivia exported to Panama were Refined Petroleum ($7.35M), Soybean Oil ($797k), and Scrap Aluminium ($280k). Over the past 5 years the exports of Bolivia to Panama have increased at an annualized rate of 4.58%, from $7.52M in 2018 to $9.4M in 2023.

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

Comparison: In 2023, Panama ranked 69 in the Economic Complexity Index (ECI -0.14), and 121 in total exports ($6.59B). That same year, Bolivia ranked 105 in the Economic Complexity Index (ECI -0.85), and 103 in total exports ($10.6B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Panama exported $34.4M to Bolivia. The main products exported from Panama to Bolivia were Refined Petroleum ($30M), Hard Liquor ($1.13M), and Packaged Medicaments ($854k). During the last 5 years the exports of Panama to Bolivia have increased at an annualized rate of 27.9%, from $10M in 2018 to $34.4M in 2023.

In 2018, Bolivia exported $9.4M to Panama. The main products exported from Bolivia to Panama were Refined Petroleum ($7.35M), Soybean Oil ($797k), and Scrap Aluminium ($280k). During the last 5 years the exports of Bolivia to Panama have increased at an annualized rate of 4.58%, from $7.52M in 2023 to $9.4M in 2018.

Exports from Panama () to Bolivia () (2023)

Exports from Bolivia () to Panama () (2023)

Latest Data

Trade between Panama () and Bolivia ()

Panama Exports

Date

Bolivia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Panama
Top DestinationChina$1.62B

Bolivia
Top DestinationBrazil$1.54B

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

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

In 2023, countries that imported more from Bolivia than Panama included Brazil ($1.54B), Argentina ($1.15B), and India ($1.33B).

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

Comparative Advantage Panama - Bolivia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Panama had a large net trade with Bolivia in the exports of Mineral Products ($30M), Chemical Products ($1.49M), and Foodstuffs ($1.13M).

During 2018, Bolivia had a large net trade with Panama in the exports of Mineral Products ($7.41M), Animal and Vegetable Bi-Products ($861k), and Metals ($545k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Panama Bolivia+$1.32MRefined Petroleum

Top Product Potential Bolivia Panama+$2.78MRefined 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 Panama and Bolivia. This means that a dot/product with the flag of Panama indicates it has a comparative advantage over Bolivia. Similarly, a dot/product with the flag of Bolivia indicates it has a comparative advantage over Panama.

About

Historical Data

Bilateral Trade by Products

Exports from Panama () to Bolivia () (2023)

Exports from Bolivia () to Panama () (2023)

Latest Data

Trade between Panama () and Bolivia ()

Panama Exports

Bolivia Exports

Market Competitiveness

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

Comparative Advantage Panama - Bolivia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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