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

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Panama-Peru Trade: In 2022, Panama exported $34.8M to Peru. The main products that Panama exported to Peru were Packaged Medicaments ($14.7M), Aluminium Plating ($5.06M), and Refined Petroleum ($3.1M). Over the past 5 years the exports of Panama to Peru have decreased at an annualized rate of 29.5%, from $200M in 2017 to $34.8M in 2022.

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

Peru-Panama Trade: In 2022, Peru exported $609M to Panama. The main products that Peru exported to Panama were Refined Petroleum ($446M), Bananas ($23.8M), and Grapes ($8.79M). Over the past 5 years the exports of Peru to Panama have decreased at an annualized rate of 8.29%, from $939M in 2017 to $609M in 2022.

In 2022, Peru 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, Peru ranked 93 in the Economic Complexity Index (ECI -0.6), and 54 in total exports ($59.4B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Panama exported $34.8M to Peru. The main products exported from Panama to Peru were Packaged Medicaments ($14.7M), Aluminium Plating ($5.06M), and Refined Petroleum ($3.1M). During the last 5 years the exports of Panama to Peru have decreased at an annualized rate of 29.5%, from $200M in 2017 to $34.8M in 2022.

In 2017, Peru exported $609M to Panama. The main products exported from Peru to Panama were Refined Petroleum ($446M), Bananas ($23.8M), and Grapes ($8.79M). During the last 5 years the exports of Peru to Panama have decreased at an annualized rate of 8.29%, from $939M in 2022 to $609M in 2017.

Exports from Panama () to Peru () (2022)

Exports from Peru () to Panama () (2022)

Latest Data

Trade between Panama () and Peru ()

Panama Exports

Date

Peru Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Panama
Top DestinationChina$1.14B

Peru
Top DestinationChina$17.6B

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 2022, countries that imported more from Panama than Peru included Thailand ($295M), Costa Rica ($242M), and Jamaica ($99.7M).

In 2022, countries that imported more from Peru than Panama included China ($17.6B), United States ($8.69B), and Canada ($2.69B).

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

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 2022, Panama had a large net trade with Peru in the exports of Chemical Products ($15.5M), Metals ($5.49M), and Foodstuffs ($3.24M).

During 2017, Peru had a large net trade with Panama in the exports of Mineral Products ($446M), Vegetable Products ($44.6M), and Foodstuffs ($23M).

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 () (2022)

Exports from Peru () to Panama () (2022)

Latest Data

Trade between Panama () and Peru ()

Panama Exports

Peru Exports

Market Competitiveness

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

Comparative Advantage Panama - Peru

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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