2022
Flag  
GDP
$243BCURRENT US$
Rnk 51 / 186
2012-2022
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GDP GROWTH
25.9%CURRENT US$
Rnk 106 / 186
2022
Flag
 GDP
$76.5BCURRENT US$
Rnk 74 / 186
2012-2022
Flag
GDP GROWTH
89.3%CURRENT US$
Rnk 19 / 186
2022
Flag
GDP PC 
$7,126CURRENT US$
Rnk 89 / 186
2012-2022
Flag
GDP PC GROWTH
10%CURRENT US$
Rnk 116 / 186
2022
Flag
GDP PC
$17,358CURRENT US$
Rnk 59 / 186
2012-2022
Flag
GDP PC GROWTH
61.2%CURRENT US$
Rnk 26 / 186

About

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.

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.

Comparison: In 2022,  Peru ranked 93 in the Economic Complexity Index (ECI -0.6), and 54 in total exports ($59.4B). That same year, Panama ranked 56 in the Economic Complexity Index (ECI 0.17), and 119 in total exports ($6.62B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, 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 2017 to $609M in 2022.

In 2017, 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 2022 to $34.8M in 2017.

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

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

Latest Data

Trade between Peru (Flag) and Panama (Flag)

Peru Exports

Panama Exports

Market Competitiveness

Color
Peru
Top Destination
China$17.6B
Panama
Top Destination
China$1.14B

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

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

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

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

Comparative Advantage Peru - Panama

Flow
Scale

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

During 2022, Peru had a large net trade with Panama in the exports of Mineral Products ($446M), Vegetable Products ($44.6M), and Foodstuffs ($23M).

During 2017, Panama had a large net trade with Peru in the exports of Chemical Products ($15.5M), Metals ($5.49M), and Foodstuffs ($3.24M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Peru Panama+$1.74MKnit T-shirts
Top Product Potential Panama Peru+$3.87MRefined 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 Peru and Panama. This means that a dot/product with the flag of Peru indicates it has a comparative advantage over Panama. Similarly, a dot/product with the flag of Panama indicates it has a comparative advantage over Peru.

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

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