Panama (PAN) and Paraguay (PRY) Trade | The Observatory of Economic Complexity

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Panama-Paraguay Trade: In 2023, Panama exported $11.3M to Paraguay. The main products that Panama exported to Paraguay were Trunks and Cases ($1.14M), Other Nitrogen Compounds ($890k), and Video Displays ($751k). Over the past 5 years the exports of Panama to Paraguay have decreased at an annualized rate of 41.1%, from $160M in 2018 to $11.3M in 2023.

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

Paraguay-Panama Trade: In 2023, Paraguay exported $6.03M to Panama. The main products that Paraguay exported to Panama were Packaged Medicaments ($4.95M), Leather Footwear ($346k), and Base Metal Watches ($167k). Over the past 5 years the exports of Paraguay to Panama have decreased at an annualized rate of 32.9%, from $44.2M in 2018 to $6.03M in 2023.

In 2023, Paraguay 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, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.42), and 94 in total exports ($12.2B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Panama exported $11.3M to Paraguay. The main products exported from Panama to Paraguay were Trunks and Cases ($1.14M), Other Nitrogen Compounds ($890k), and Video Displays ($751k). During the last 5 years the exports of Panama to Paraguay have decreased at an annualized rate of 41.1%, from $160M in 2018 to $11.3M in 2023.

In 2018, Paraguay exported $6.03M to Panama. The main products exported from Paraguay to Panama were Packaged Medicaments ($4.95M), Leather Footwear ($346k), and Base Metal Watches ($167k). During the last 5 years the exports of Paraguay to Panama have decreased at an annualized rate of 32.9%, from $44.2M in 2023 to $6.03M in 2018.

Exports from Panama () to Paraguay () (2023)

Exports from Paraguay () to Panama () (2023)

Latest Data

Trade between Panama () and Paraguay ()

Panama Exports

Date

Paraguay Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Panama
Top DestinationChina$1.62B

Paraguay
Top DestinationArgentina$4B

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

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

In 2023, countries that imported more from Paraguay than Panama included Argentina ($4B), Brazil ($3B), and Chile ($1.26B).

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

Comparative Advantage Panama - Paraguay

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Panama had a large net trade with Paraguay in the exports of Machines ($3.34M), Chemical Products ($1.64M), and Textiles ($1.47M).

During 2018, Paraguay had a large net trade with Panama in the exports of Chemical Products ($5.01M), Footwear and Headwear ($346k), and Machines ($191k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Panama Paraguay+$329kTelephones

Top Product Potential Paraguay Panama+$443kPackaged Medicaments

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

About

Historical Data

Bilateral Trade by Products

Exports from Panama () to Paraguay () (2023)

Exports from Paraguay () to Panama () (2023)

Latest Data

Trade between Panama () and Paraguay ()

Panama Exports

Paraguay Exports

Market Competitiveness

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

Comparative Advantage Panama - Paraguay

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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