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Pricing

2022
Flag → Flag
Exports $357MRnk 4 / 153
2022
Flag → Flag
Top Product $90.1MNon-fillet Fresh Fish
2022
Flag → Flag
Exports $10.8BRnk 34 / 219
2022
Flag → Flag
Top Product $6.16BRefined Petroleum
2022
Flag
Economic Complexity (ECI) ECI 0.17Rnk 56 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.47Rnk 10 / 133
2022
Flag  
GDP$76.5BCURRENT US$
Rnk 74 / 186
2012-2022
Flag
GDP GROWTH89.3%CURRENT US$
Rnk 19 / 186
2022
Flag
 GDP$25.5TCURRENT US$
Rnk 1 / 186
2012-2022
Flag
GDP GROWTH56.7%CURRENT US$
Rnk 45 / 186
2022
Flag
GDP PC $17,358CURRENT US$
Rnk 59 / 186
2012-2022
Flag
GDP PC GROWTH61.2%CURRENT US$
Rnk 26 / 186
2022
Flag
GDP PC$76,399CURRENT US$
Rnk 8 / 186
2012-2022
Flag
GDP PC GROWTH47.5%CURRENT US$
Rnk 39 / 186

About

Panama-United States Trade: In 2022, Panama exported $357M to United States. The main products that Panama exported to United States were Non-fillet Fresh Fish ($90.1M), Precious Metal Scraps ($37.2M), and Raw Sugar ($27.8M). Over the past 5 years the exports of Panama to United States have decreased at an annualized rate of 25.4%, from $1.55B in 2017 to $357M in 2022.

In 2022, Panama did not export any services to United States.

United States-Panama Trade: In 2022, United States exported $10.8B to Panama. The main products that United States exported to Panama were Refined Petroleum ($6.16B), Crude Petroleum ($683M), and Petroleum Gas ($265M). Over the past 5 years the exports of United States to Panama have increased at an annualized rate of 13%,  from $5.85B in 2017 to $10.8B in 2022.

In 2017, United States exported services to Panama worth $2.13B, with Transportation ($732M), Travel ($478M), and Financial services ($423M) being the largest in terms of value.

Comparison: In 2022,  Panama ranked 56 in the Economic Complexity Index (ECI 0.17), and 119 in total exports ($6.62B). That same year, United States ranked 10 in the Economic Complexity Index (ECI 1.47), and 2 in total exports ($1.95T).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Panama exported $357M to United States. The main products exported from Panama to United States were Non-fillet Fresh Fish ($90.1M), Precious Metal Scraps ($37.2M), and Raw Sugar ($27.8M). During the last 5 years the exports of Panama to United States have decreased at an annualized rate of 25.4%, from $1.55B in 2017 to $357M in 2022.

In 2017, United States exported $10.8B to Panama. The main products exported from United States to Panama were Refined Petroleum ($6.16B), Crude Petroleum ($683M), and Petroleum Gas ($265M). During the last 5 years the exports of United States to Panama have increased at an annualized rate of 13%, from $5.85B in 2022 to $10.8B in 2017.

Exports from Panama (Flag) to United States (Flag) (2022)

Exports from United States (Flag) to Panama (Flag) (2022)

Latest Data

Trade between Panama (Flag) and United States (Flag)

Panama Exports

United States Exports

Market Competitiveness

Color
Panama
Top DestinationChina$1.14B
United States
Top DestinationCanada$308B

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

In 2022, countries that imported more from Panama than United States included Bonaire ($639k).

In 2022, countries that imported more from United States than Panama included Canada ($308B), Mexico ($294B), and China ($151B).

Difference in imports from United States (Flag) and Panama (Flag) (2022)

Comparative Advantage Panama - United States

Flow
Scale

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

During 2022, Panama had a large net trade with United States in the exports of Animal Products ($123M), Precious Metals ($65.1M), and Vegetable Products ($35M).

During 2017, United States had a large net trade with Panama in the exports of Mineral Products ($7.2B), Machines ($886M), and Foodstuffs ($651M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Panama United States+$19.9MGold
Top Product Potential United States Panama+$172MCrude Petroleum

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

This visualization shows the product space at the HS4 level with the flags of Panama and United States. This means that a dot/product with the flag of Panama indicates it has a comparative advantage over United States. Similarly, a dot/product with the flag of United States indicates it has a comparative advantage over Panama.

Product Space of Panama (Flag) and United States (Flag) (2022)

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