Singapore (SGP) and Panama (PAN) Trade | The Observatory of Economic Complexity

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Singapore-Panama Trade: In 2023, Singapore exported $480M to Panama. The main products that Singapore exported to Panama were Sulfonamides ($287M), Oxygen Amino Compounds ($109M), and Antibiotics ($15.2M). Over the past 5 years the exports of Singapore to Panama have decreased at an annualized rate of 22.3%, from $1.7B in 2018 to $480M in 2023.

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

Panama-Singapore Trade: In 2023, Panama exported $1.71M to Singapore. The main products that Panama exported to Singapore were Coffee ($385k), Hard Liquor ($361k), and Textiles for technical uses ($315k). Over the past 5 years the exports of Panama to Singapore have decreased at an annualized rate of 49.9%, from $54M in 2018 to $1.71M in 2023.

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

Comparison: In 2023, Singapore ranked 6 in the Economic Complexity Index (ECI 1.62), and 24 in total exports ($333B). 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, Singapore exported $480M to Panama. The main products exported from Singapore to Panama were Sulfonamides ($287M), Oxygen Amino Compounds ($109M), and Antibiotics ($15.2M). During the last 5 years the exports of Singapore to Panama have decreased at an annualized rate of 22.3%, from $1.7B in 2018 to $480M in 2023.

In 2018, Panama exported $1.71M to Singapore. The main products exported from Panama to Singapore were Coffee ($385k), Hard Liquor ($361k), and Textiles for technical uses ($315k). During the last 5 years the exports of Panama to Singapore have decreased at an annualized rate of 49.9%, from $54M in 2023 to $1.71M in 2018.

Exports from Singapore () to Panama () (2023)

Exports from Panama () to Singapore () (2023)

Latest Data

Trade between Singapore () and Panama ()

Singapore Exports

Date

Panama Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Singapore
Top DestinationHong Kong$44.5B

Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from Singapore than Panama included Hong Kong ($44.5B), China ($36.7B), and United States ($32.9B).

In 2023, countries that imported more from Panama than Singapore included Costa Rica ($307M), Dominican Republic ($148M), and Jamaica ($87.1M).

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

Comparative Advantage Singapore - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Singapore had a large net trade with Panama in the exports of Chemical Products ($427M), Metals ($13.3M), and Textiles ($10.6M).

During 2018, Panama had a large net trade with Singapore in the exports of Foodstuffs ($537k), Vegetable Products ($385k), and Textiles ($318k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Singapore Panama+$5.6MPackaged Medicaments

Top Product Potential Panama Singapore+$370kNon-fillet Frozen Fish

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

About

Historical Data

Bilateral Trade by Products

Exports from Singapore () to Panama () (2023)

Exports from Panama () to Singapore () (2023)

Latest Data

Trade between Singapore () and Panama ()

Singapore Exports

Panama Exports

Market Competitiveness

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

Comparative Advantage Singapore - Panama

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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