Panama (PAN) and Peru (PER) Trade | The Observatory of Economic Complexity

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Panama-Peru Trade: In 2023, Panama exported $40.6M to Peru. The main products that Panama exported to Peru were Packaged Medicaments ($14.2M), Large Construction Vehicles ($5.64M), and Aluminium Plating ($4.65M). Over the past 5 years the exports of Panama to Peru have decreased at an annualized rate of 18.5%, from $113M in 2018 to $40.6M in 2023.

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

Peru-Panama Trade: In 2023, Peru exported $543M to Panama. The main products that Peru exported to Panama were Refined Petroleum ($393M), Bananas ($13.4M), and Grapes ($10.9M). Over the past 5 years the exports of Peru to Panama have increased at an annualized rate of 18.7%, from $231M in 2018 to $543M in 2023.

In 2023, Peru 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, Peru ranked 90 in the Economic Complexity Index (ECI -0.61), and 51 in total exports ($66.6B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Panama exported $40.6M to Peru. The main products exported from Panama to Peru were Packaged Medicaments ($14.2M), Large Construction Vehicles ($5.64M), and Aluminium Plating ($4.65M). During the last 5 years the exports of Panama to Peru have decreased at an annualized rate of 18.5%, from $113M in 2018 to $40.6M in 2023.

In 2018, Peru exported $543M to Panama. The main products exported from Peru to Panama were Refined Petroleum ($393M), Bananas ($13.4M), and Grapes ($10.9M). During the last 5 years the exports of Peru to Panama have increased at an annualized rate of 18.7%, from $231M in 2023 to $543M in 2018.

Exports from Panama () to Peru () (2023)

Exports from Peru () to Panama () (2023)

Latest Data

Trade between Panama () and Peru ()

Panama Exports

Date

Peru Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Panama
Top DestinationChina$1.62B

Peru
Top DestinationChina$22.5B

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

In 2023, countries that imported more from Panama than Peru included Costa Rica ($307M), Denmark ($239M), and Thailand ($346M).

In 2023, countries that imported more from Peru than Panama included China ($22.5B), United States ($9.3B), and Canada ($3.24B).

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

Comparative Advantage Panama - Peru

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Panama had a large net trade with Peru in the exports of Chemical Products ($15M), Machines ($8.07M), and Metals ($5.63M).

During 2018, Peru had a large net trade with Panama in the exports of Mineral Products ($393M), Vegetable Products ($40.8M), and Foodstuffs ($28M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Panama Peru+$3.87MRefined Petroleum

Top Product Potential Peru Panama+$1.74MKnit T-shirts

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

About

Historical Data

Bilateral Trade by Products

Exports from Panama () to Peru () (2023)

Exports from Peru () to Panama () (2023)

Latest Data

Trade between Panama () and Peru ()

Panama Exports

Peru Exports

Market Competitiveness

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

Comparative Advantage Panama - Peru

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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