Panama (PAN) and Honduras (HND) Trade | The Observatory of Economic Complexity

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Panama-Honduras Trade: In 2023, Panama exported $69.4M to Honduras. The main products that Panama exported to Honduras were Refined Petroleum ($24M), Packaged Medicaments ($8.48M), and Aluminium Cans ($7.32M). Over the past 5 years the exports of Panama to Honduras have decreased at an annualized rate of 8.91%, from $111M in 2018 to $69.4M in 2023.

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

Honduras-Panama Trade: In 2023, Honduras exported $44.6M to Panama. The main products that Honduras exported to Panama were Animal Food ($25.5M), Sawn Wood ($2.51M), and Plastic Lids ($2.41M). Over the past 5 years the exports of Honduras to Panama have decreased at an annualized rate of 1.95%, from $49.2M in 2018 to $44.6M in 2023.

In 2023, Honduras 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, Honduras ranked 88 in the Economic Complexity Index (ECI -0.53), and 95 in total exports ($11.9B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Panama exported $69.4M to Honduras. The main products exported from Panama to Honduras were Refined Petroleum ($24M), Packaged Medicaments ($8.48M), and Aluminium Cans ($7.32M). During the last 5 years the exports of Panama to Honduras have decreased at an annualized rate of 8.91%, from $111M in 2018 to $69.4M in 2023.

In 2018, Honduras exported $44.6M to Panama. The main products exported from Honduras to Panama were Animal Food ($25.5M), Sawn Wood ($2.51M), and Plastic Lids ($2.41M). During the last 5 years the exports of Honduras to Panama have decreased at an annualized rate of 1.95%, from $49.2M in 2023 to $44.6M in 2018.

Exports from Panama () to Honduras () (2023)

Exports from Honduras () to Panama () (2023)

Latest Data

Trade between Panama () and Honduras ()

Panama Exports

Date

Honduras Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Panama
Top DestinationChina$1.62B

Honduras
Top DestinationUnited States$5.87B

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

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

In 2023, countries that imported more from Honduras than Panama included United States ($5.87B), Nicaragua ($980M), and El Salvador ($796M).

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

Comparative Advantage Panama - Honduras

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Panama had a large net trade with Honduras in the exports of Mineral Products ($24.1M), Chemical Products ($12.3M), and Metals ($7.98M).

During 2018, Honduras had a large net trade with Panama in the exports of Foodstuffs ($27.4M), Plastics and Rubbers ($3.27M), and Wood Products ($2.58M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Panama Honduras+$365kRefined Petroleum

Top Product Potential Honduras Panama+$1.18MRolled Tobacco

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

About

Historical Data

Bilateral Trade by Products

Exports from Panama () to Honduras () (2023)

Exports from Honduras () to Panama () (2023)

Latest Data

Trade between Panama () and Honduras ()

Panama Exports

Honduras Exports

Market Competitiveness

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

Comparative Advantage Panama - Honduras

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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