Panama (PAN) and Mexico (MEX) Trade | The Observatory of Economic Complexity

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Panama-Mexico Trade: In 2022, Panama exported $38.3M to Mexico. The main products that Panama exported to Mexico were Palm Oil ($30.3M), Edible Offal ($2.05M), and Aluminium Cans ($1.78M). Over the past 5 years the exports of Panama to Mexico have decreased at an annualized rate of 20%, from $117M in 2017 to $38.3M in 2022.

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

Mexico-Panama Trade: In 2022, Mexico exported $801M to Panama. The main products that Mexico exported to Panama were Packaged Medicaments ($100M), Refrigerators ($74.2M), and Video Displays ($53.1M). Over the past 5 years the exports of Mexico to Panama have decreased at an annualized rate of 0.16%, from $808M in 2017 to $801M in 2022.

In 2022, Mexico 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, Mexico ranked 25 in the Economic Complexity Index (ECI 1.08), and 10 in total exports ($549B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Panama exported $38.3M to Mexico. The main products exported from Panama to Mexico were Palm Oil ($30.3M), Edible Offal ($2.05M), and Aluminium Cans ($1.78M). During the last 5 years the exports of Panama to Mexico have decreased at an annualized rate of 20%, from $117M in 2017 to $38.3M in 2022.

In 2017, Mexico exported $801M to Panama. The main products exported from Mexico to Panama were Packaged Medicaments ($100M), Refrigerators ($74.2M), and Video Displays ($53.1M). During the last 5 years the exports of Mexico to Panama have decreased at an annualized rate of 0.16%, from $808M in 2022 to $801M in 2017.

Exports from Panama () to Mexico () (2022)

Exports from Mexico () to Panama () (2022)

Latest Data

Trade between Panama () and Mexico ()

Panama Exports

Date

Mexico Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Panama
Top DestinationChina$1.14B

Mexico
Top DestinationUnited States$421B

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

In 2022, countries that imported more from Panama than Mexico included Bulgaria ($176M), Barbados ($45.1M), and Aruba ($43.4M).

In 2022, countries that imported more from Mexico than Panama included United States ($421B), Canada ($22.2B), and China ($12.7B).

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

Comparative Advantage Panama - Mexico

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Panama had a large net trade with Mexico in the exports of Animal and Vegetable Bi-Products ($30.5M), Animal Products ($2.74M), and Chemical Products ($2.05M).

During 2017, Mexico had a large net trade with Panama in the exports of Machines ($225M), Chemical Products ($175M), and Foodstuffs ($103M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Panama Mexico+$821kFish Fillets

Top Product Potential Mexico Panama+$46.7MCars

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

About

Historical Data

Bilateral Trade by Products

Exports from Panama () to Mexico () (2022)

Exports from Mexico () to Panama () (2022)

Latest Data

Trade between Panama () and Mexico ()

Panama Exports

Mexico Exports

Market Competitiveness

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

Comparative Advantage Panama - Mexico

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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