Panama (PAN) and Canada (CAN) Trade | The Observatory of Economic Complexity

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Panama-Canada Trade: In 2022, Panama exported $150M to Canada. The main products that Panama exported to Canada were Copper Ore ($136M), Bananas ($4.7M), and Hard Liquor ($2.69M). Over the past 5 years the exports of Panama to Canada have increased at an annualized rate of 52.8%, from $18M in 2017 to $150M in 2022.

In 2022, Panama did not export any services to Canada.

Canada-Panama Trade: In 2022, Canada exported $310M to Panama. The main products that Canada exported to Panama were Refined Petroleum ($191M), Liquid Pumps ($13.6M), and Dried Legumes ($12.4M). Over the past 5 years the exports of Canada to Panama have increased at an annualized rate of 18.8%, from $131M in 2017 to $310M in 2022.

In 2020, Canada exported services to Panama worth $14.9M, with Communications services ($4.47M), Financial services ($4.47M), and Computer and information services ($4.47M) being the largest in terms of value.

Comparison: In 2022, Panama ranked 56 in the Economic Complexity Index (ECI 0.17), and 119 in total exports ($6.62B). That same year, Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Panama exported $150M to Canada. The main products exported from Panama to Canada were Copper Ore ($136M), Bananas ($4.7M), and Hard Liquor ($2.69M). During the last 5 years the exports of Panama to Canada have increased at an annualized rate of 52.8%, from $18M in 2017 to $150M in 2022.

In 2017, Canada exported $310M to Panama. The main products exported from Canada to Panama were Refined Petroleum ($191M), Liquid Pumps ($13.6M), and Dried Legumes ($12.4M). During the last 5 years the exports of Canada to Panama have increased at an annualized rate of 18.8%, from $131M in 2022 to $310M in 2017.

Exports from Panama () to Canada () (2022)

Exports from Canada () to Panama () (2022)

Latest Data

Trade between Panama () and Canada ()

Panama Exports

Date

Canada Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Panama
Top DestinationChina$1.14B

Canada
Top DestinationUnited States$438B

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

In 2022, countries that imported more from Panama than Canada included Bulgaria ($176M), Aruba ($43.4M), and Costa Rica ($242M).

In 2022, countries that imported more from Canada than Panama included United States ($438B), China ($25.4B), and Japan ($14.3B).

Difference in imports from Canada () and Panama () (2022)

Comparative Advantage Panama - Canada

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Panama had a large net trade with Canada in the exports of Mineral Products ($136M), Vegetable Products ($5.46M), and Foodstuffs ($3.92M).

During 2017, Canada had a large net trade with Panama in the exports of Mineral Products ($191M), Machines ($33.4M), and Foodstuffs ($16.5M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Panama Canada+$2.7MBananas

Top Product Potential Canada Panama+$48.2MRefined 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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Bilateral Service Trade

Can Year

In 2020, Canada exported services to Panama worth $14.9M, with Communications services ($4.47M), Financial services ($4.47M), and Computer and information services ($4.47M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Canada () to Panama () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Panama and Canada. This means that a dot/product with the flag of Panama indicates it has a comparative advantage over Canada. Similarly, a dot/product with the flag of Canada indicates it has a comparative advantage over Panama.

About

Historical Data

Bilateral Trade by Products

Exports from Panama () to Canada () (2022)

Exports from Canada () to Panama () (2022)

Latest Data

Trade between Panama () and Canada ()

Panama Exports

Canada Exports

Market Competitiveness

Difference in imports from Canada () and Panama () (2022)

Comparative Advantage Panama - Canada

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Canada () to Panama () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Panama () and Canada () (2022)

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