Panama (PAN) and Brazil (BRA) Trade | The Observatory of Economic Complexity

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Panama-Brazil Trade: In 2023, Panama exported $14.4M to Brazil. The main products that Panama exported to Brazil were Scrap Aluminium ($7.64M), Scrap Copper ($1.24M), and Hand-Woven Rugs ($639k). Over the past 5 years the exports of Panama to Brazil have decreased at an annualized rate of 24%, from $56.8M in 2018 to $14.4M in 2023.

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

Brazil-Panama Trade: In 2023, Brazil exported $949M to Panama. The main products that Brazil exported to Panama were Refined Petroleum ($369M), Crude Petroleum ($180M), and Corn ($48.6M). Over the past 5 years the exports of Brazil to Panama have increased at an annualized rate of 9.36%, from $607M in 2018 to $949M in 2023.

In 2023, Brazil 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, Brazil ranked 49 in the Economic Complexity Index (ECI 0.31), and 22 in total exports ($355B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Panama exported $14.4M to Brazil. The main products exported from Panama to Brazil were Scrap Aluminium ($7.64M), Scrap Copper ($1.24M), and Hand-Woven Rugs ($639k). During the last 5 years the exports of Panama to Brazil have decreased at an annualized rate of 24%, from $56.8M in 2018 to $14.4M in 2023.

In 2018, Brazil exported $949M to Panama. The main products exported from Brazil to Panama were Refined Petroleum ($369M), Crude Petroleum ($180M), and Corn ($48.6M). During the last 5 years the exports of Brazil to Panama have increased at an annualized rate of 9.36%, from $607M in 2023 to $949M in 2018.

Exports from Panama () to Brazil () (2023)

Exports from Brazil () to Panama () (2023)

Latest Data

Trade between Panama () and Brazil ()

Panama Exports

Date

Brazil Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Panama
Top DestinationChina$1.62B

Brazil
Top DestinationChina$106B

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

In 2023, countries that imported more from Panama than Brazil included Gabon ($121M), Barbados ($48.4M), and British Indian Ocean Territory ($1.53M).

In 2023, countries that imported more from Brazil than Panama included China ($106B), United States ($37B), and Argentina ($17.2B).

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

Comparative Advantage Panama - Brazil

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Panama had a large net trade with Brazil in the exports of Metals ($8.95M), Machines ($1.83M), and Textiles ($1.02M).

During 2018, Brazil had a large net trade with Panama in the exports of Mineral Products ($549M), Machines ($101M), and Vegetable Products ($70.4M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Panama Brazil+$346kMedical Instruments

Top Product Potential Brazil Panama+$11.5MCars

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

About

Historical Data

Bilateral Trade by Products

Exports from Panama () to Brazil () (2023)

Exports from Brazil () to Panama () (2023)

Latest Data

Trade between Panama () and Brazil ()

Panama Exports

Brazil Exports

Market Competitiveness

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

Comparative Advantage Panama - Brazil

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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