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2022
Flag → Flag
Exports $89.3MRnk 17 / 153
2022
Flag → Flag
Top Product $31.9MPackaged Medicaments
2022
Flag → Flag
Exports $60.8MRnk 26 / 163
2022
Flag → Flag
Top Product $13.4MMedical Instruments
2022
Flag
Economic Complexity (ECI) ECI 0.17Rnk 56 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.052Rnk 62 / 133
2022
Flag  
GDP$76.5BCURRENT US$
Rnk 74 / 186
2012-2022
Flag
GDP GROWTH89.3%CURRENT US$
Rnk 19 / 186
2022
Flag
 GDP$114BCURRENT US$
Rnk 64 / 186
2012-2022
Flag
GDP GROWTH87.3%CURRENT US$
Rnk 23 / 186
2022
Flag
GDP PC $17,358CURRENT US$
Rnk 59 / 186
2012-2022
Flag
GDP PC GROWTH61.2%CURRENT US$
Rnk 26 / 186
2022
Flag
GDP PC$10,121CURRENT US$
Rnk 77 / 186
2012-2022
Flag
GDP PC GROWTH67.3%CURRENT US$
Rnk 19 / 186

About

Panama-Dominican Republic Trade: In 2022, Panama exported $89.3M to Dominican Republic. The main products that Panama exported to Dominican Republic were Packaged Medicaments ($31.9M), Synthetic Fabrics ($4.13M), and Special Pharmaceuticals ($3.69M). Over the past 5 years the exports of Panama to Dominican Republic have decreased at an annualized rate of 23.1%, from $331M in 2017 to $89.3M in 2022.

In 2022, Panama did not export any services to Dominican Republic.

Dominican Republic-Panama Trade: In 2022, Dominican Republic exported $60.8M to Panama. The main products that Dominican Republic exported to Panama were Medical Instruments ($13.4M), Packaged Medicaments ($8.67M), and Beer ($4.34M). Over the past 5 years the exports of Dominican Republic to Panama have increased at an annualized rate of 0.61%,  from $59M in 2017 to $60.8M in 2022.

In 2022, Dominican Republic did not export any services to Panama.

Comparison: In 2022,  Panama ranked 56 in the Economic Complexity Index (ECI 0.17), and 119 in total exports ($6.62B). That same year, Dominican Republic ranked 62 in the Economic Complexity Index (ECI 0.052), and 92 in total exports ($13.8B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Panama exported $89.3M to Dominican Republic. The main products exported from Panama to Dominican Republic were Packaged Medicaments ($31.9M), Synthetic Fabrics ($4.13M), and Special Pharmaceuticals ($3.69M). During the last 5 years the exports of Panama to Dominican Republic have decreased at an annualized rate of 23.1%, from $331M in 2017 to $89.3M in 2022.

In 2017, Dominican Republic exported $60.8M to Panama. The main products exported from Dominican Republic to Panama were Medical Instruments ($13.4M), Packaged Medicaments ($8.67M), and Beer ($4.34M). During the last 5 years the exports of Dominican Republic to Panama have increased at an annualized rate of 0.61%, from $59M in 2022 to $60.8M in 2017.

Exports from Panama (Flag) to Dominican Republic (Flag) (2022)

Exports from Dominican Republic (Flag) to Panama (Flag) (2022)

Latest Data

Trade between Panama (Flag) and Dominican Republic (Flag)

Panama Exports

Dominican Republic Exports

Market Competitiveness

Color
Panama
Top DestinationChina$1.14B
Dominican Republic
Top DestinationUnited States$6.85B

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

In 2022, countries that imported more from Panama than Dominican Republic included China ($1.14B), Japan ($785M), and South Korea ($539M).

In 2022, countries that imported more from Dominican Republic than Panama included United States ($6.85B), Switzerland ($1.08B), and Haiti ($1.02B).

Difference in imports from Dominican Republic (Flag) and Panama (Flag) (2022)

Comparative Advantage Panama - Dominican Republic

Flow
Scale

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

During 2022, Panama had a large net trade with Dominican Republic in the exports of Chemical Products ($45.5M), Machines ($11.6M), and Textiles ($10.3M).

During 2017, Dominican Republic had a large net trade with Panama in the exports of Instruments ($13.5M), Chemical Products ($12.2M), and Foodstuffs ($10.4M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Panama Dominican Republic+$243kHard Liquor
Top Product Potential Dominican Republic Panama+$1.39MMedical Instruments

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

Product Space of Panama (Flag) and Dominican Republic (Flag) (2022)

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