El Salvador (SLV) and Panama (PAN) Trade | The Observatory of Economic Complexity

About

El Salvador-Panama Trade: In 2023, El Salvador exported $128M to Panama. The main products that El Salvador exported to Panama were Toilet Paper ($19.7M), Packaged Medicaments ($14.1M), and Refined Petroleum ($9.5M). Over the past 5 years the exports of El Salvador to Panama have increased at an annualized rate of 0.23%, from $126M in 2018 to $128M in 2023.

In 2023, El Salvador did not export any services to Panama.

Panama-El Salvador Trade: In 2023, Panama exported $42.1M to El Salvador. The main products that Panama exported to El Salvador were Electricity ($7.89M), Refined Petroleum ($7.21M), and Non-fillet Frozen Fish ($5.87M). Over the past 5 years the exports of Panama to El Salvador have decreased at an annualized rate of 22.2%, from $147M in 2018 to $42.1M in 2023.

In 2023, Panama did not export any services to El Salvador.

Comparison: In 2023, El Salvador ranked 63 in the Economic Complexity Index (ECI 0.0012), and 118 in total exports ($6.76B). 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, El Salvador exported $128M to Panama. The main products exported from El Salvador to Panama were Toilet Paper ($19.7M), Packaged Medicaments ($14.1M), and Refined Petroleum ($9.5M). During the last 5 years the exports of El Salvador to Panama have increased at an annualized rate of 0.23%, from $126M in 2018 to $128M in 2023.

In 2018, Panama exported $42.1M to El Salvador. The main products exported from Panama to El Salvador were Electricity ($7.89M), Refined Petroleum ($7.21M), and Non-fillet Frozen Fish ($5.87M). During the last 5 years the exports of Panama to El Salvador have decreased at an annualized rate of 22.2%, from $147M in 2023 to $42.1M in 2018.

Exports from El Salvador () to Panama () (2023)

Exports from Panama () to El Salvador () (2023)

Latest Data

Trade between El Salvador () and Panama ()

El Salvador Exports

Date

Panama Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

El Salvador
Top DestinationUnited States$2.41B

Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from El Salvador than Panama included United States ($2.41B), Guatemala ($1.15B), and Honduras ($1.03B).

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

Difference in imports from Panama () and El Salvador () (2023)

Comparative Advantage El Salvador - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, El Salvador had a large net trade with Panama in the exports of Chemical Products ($33M), Paper Goods ($26M), and Foodstuffs ($25.3M).

During 2018, Panama had a large net trade with El Salvador in the exports of Mineral Products ($15.1M), Chemical Products ($9.39M), and Animal Products ($6.63M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential El Salvador Panama+$7.13MRefined Petroleum

Top Product Potential Panama El Salvador+$1.91MRefined 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.

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

About

Historical Data

Bilateral Trade by Products

Exports from El Salvador () to Panama () (2023)

Exports from Panama () to El Salvador () (2023)

Latest Data

Trade between El Salvador () and Panama ()

El Salvador Exports

Panama Exports

Market Competitiveness

Difference in imports from Panama () and El Salvador () (2023)

Comparative Advantage El Salvador - 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 El Salvador () and Panama () (2023)

Keep Exploring