Trinidad and Tobago (TTO) and Panama (PAN) Trade | The Observatory of Economic Complexity

About

Trinidad and Tobago-Panama Trade: In 2022, Trinidad and Tobago exported $230M to Panama. The main products that Trinidad and Tobago exported to Panama were Crude Petroleum ($190M), Tissue ($13.8M), and Nitrogenous Fertilizers ($10.8M). Over the past 5 years the exports of Trinidad and Tobago to Panama have increased at an annualized rate of 30.8%, from $60.1M in 2017 to $230M in 2022.

In 2022, Trinidad and Tobago did not export any services to Panama.

Panama-Trinidad and Tobago Trade: In 2022, Panama exported $21.3M to Trinidad and Tobago. The main products that Panama exported to Trinidad and Tobago were Packaged Medicaments ($6.22M), Other Prepared Meat ($859k), and Fruit Juice ($814k). Over the past 5 years the exports of Panama to Trinidad and Tobago have decreased at an annualized rate of 20.1%, from $65.5M in 2017 to $21.3M in 2022.

In 2022, Panama did not export any services to Trinidad and Tobago.

Comparison In 2022, Trinidad and Tobago ranked 91 in total exports ($13.9B), and does not have data regarding Economic Complexity Index. 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Trinidad and Tobago exported $230M to Panama. The main products exported from Trinidad and Tobago to Panama were Crude Petroleum ($190M), Tissue ($13.8M), and Nitrogenous Fertilizers ($10.8M). During the last 5 years the exports of Trinidad and Tobago to Panama have increased at an annualized rate of 30.8%, from $60.1M in 2017 to $230M in 2022.

In 2017, Panama exported $21.3M to Trinidad and Tobago. The main products exported from Panama to Trinidad and Tobago were Packaged Medicaments ($6.22M), Other Prepared Meat ($859k), and Fruit Juice ($814k). During the last 5 years the exports of Panama to Trinidad and Tobago have decreased at an annualized rate of 20.1%, from $65.5M in 2022 to $21.3M in 2017.

Exports from Trinidad and Tobago () to Panama () (2022)

Exports from Panama () to Trinidad and Tobago () (2022)

Latest Data

Trade between Trinidad and Tobago () and Panama ()

Trinidad and Tobago Exports

Date

Panama Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Trinidad and Tobago
Top DestinationUnited States$4.91B

Panama
Top DestinationChina$1.14B

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

In 2022, countries that imported more from Trinidad and Tobago than Panama included United States ($4.91B), Belgium ($894M), and Morocco ($740M).

In 2022, countries that imported more from Panama than Trinidad and Tobago included China ($1.14B), Japan ($785M), and Costa Rica ($242M).

Difference in imports from Panama () and Trinidad and Tobago () (2022)

Comparative Advantage Trinidad and Tobago - Panama

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Trinidad and Tobago had a large net trade with Panama in the exports of Mineral Products ($199M), Paper Goods ($14M), and Chemical Products ($10.9M).

During 2017, Panama had a large net trade with Trinidad and Tobago in the exports of Chemical Products ($8.53M), Machines ($2.44M), and Foodstuffs ($2.21M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Trinidad and Tobago Panama+$169kBaked Goods

Top Product Potential Panama Trinidad and Tobago+$16.8kFish Fillets

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

About

Historical Data

Bilateral Trade by Products

Exports from Trinidad and Tobago () to Panama () (2022)

Exports from Panama () to Trinidad and Tobago () (2022)

Latest Data

Trade between Trinidad and Tobago () and Panama ()

Trinidad and Tobago Exports

Panama Exports

Market Competitiveness

Difference in imports from Panama () and Trinidad and Tobago () (2022)

Comparative Advantage Trinidad and Tobago - Panama

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Trinidad and Tobago () and Panama () (2022)

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