Saudi Arabia (SAU) and Panama (PAN) Trade | The Observatory of Economic Complexity

About

Saudi Arabia-Panama Trade: In 2023, Saudi Arabia exported $7.25M to Panama. The main products that Saudi Arabia exported to Panama were Phenols ($5.04M), Refined Petroleum ($556k), and Lubricating Products ($521k). Over the past 5 years the exports of Saudi Arabia to Panama have increased at an annualized rate of 22.1%, from $2.67M in 2018 to $7.25M in 2023.

In 2023, Saudi Arabia did not export any services to Panama.

Panama-Saudi Arabia Trade: In 2023, Panama exported $2.04M to Saudi Arabia. The main products that Panama exported to Saudi Arabia were Coffee ($842k), Scrap Aluminium ($382k), and Engine Parts ($315k). Over the past 5 years the exports of Panama to Saudi Arabia have decreased at an annualized rate of 53.9%, from $98.3M in 2018 to $2.04M in 2023.

In 2023, Panama did not export any services to Saudi Arabia.

Comparison: In 2023, Saudi Arabia ranked 36 in the Economic Complexity Index (ECI 0.76), and 26 in total exports ($300B). That same year, Panama ranked 69 in the Economic Complexity Index (ECI -0.14), and 121 in total exports ($6.59B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Saudi Arabia exported $7.25M to Panama. The main products exported from Saudi Arabia to Panama were Phenols ($5.04M), Refined Petroleum ($556k), and Lubricating Products ($521k). During the last 5 years the exports of Saudi Arabia to Panama have increased at an annualized rate of 22.1%, from $2.67M in 2018 to $7.25M in 2023.

In 2018, Panama exported $2.04M to Saudi Arabia. The main products exported from Panama to Saudi Arabia were Coffee ($842k), Scrap Aluminium ($382k), and Engine Parts ($315k). During the last 5 years the exports of Panama to Saudi Arabia have decreased at an annualized rate of 53.9%, from $98.3M in 2023 to $2.04M in 2018.

Exports from Saudi Arabia () to Panama () (2023)

Exports from Panama () to Saudi Arabia () (2023)

Latest Data

Trade between Saudi Arabia () and Panama ()

Saudi Arabia Exports

Date

Panama Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Saudi Arabia
Top DestinationChina$64.4B

Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from Saudi Arabia than Panama included China ($64.4B), India ($34.8B), and Japan ($34.7B).

In 2023, countries that imported more from Panama than Saudi Arabia included Costa Rica ($307M), Denmark ($239M), and Dominican Republic ($148M).

Difference in imports from Panama () and Saudi Arabia () (2023)

Comparative Advantage Saudi Arabia - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Saudi Arabia had a large net trade with Panama in the exports of Chemical Products ($6.4M), Mineral Products ($556k), and Stone And Glass ($141k).

During 2018, Panama had a large net trade with Saudi Arabia in the exports of Vegetable Products ($868k), Machines ($560k), and Metals ($409k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Saudi Arabia Panama+$2.82MRefined Petroleum

Top Product Potential Panama Saudi Arabia+$482kCoffee

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Saudi Arabia () to Panama () (2023)

Exports from Panama () to Saudi Arabia () (2023)

Latest Data

Trade between Saudi Arabia () and Panama ()

Saudi Arabia Exports

Panama Exports

Market Competitiveness

Difference in imports from Panama () and Saudi Arabia () (2023)

Comparative Advantage Saudi Arabia - Panama

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

Product Space of Saudi Arabia () and Panama () (2023)

Keep Exploring