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Pricing

2023
Flag → Flag
Exports $5.29BRnk 47 / 220
2023
Flag → Flag
Top Product $1.27BRefined Petroleum
2023
Flag → Flag
Exports $385MRnk 3 / 146
2023
Flag → Flag
Top Product $67.9MNon-fillet Fresh Fish
2023
Flag
Economic Complexity (ECI) ECI 1.5Rnk 10 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.14Rnk 69 / 132
2023
Flag  
GDP$27.7TCURRENT US$
Rnk 1 / 195
2013-2023
Flag
GDP GROWTH64.2%CURRENT US$
Rnk 44 / 195
2023
Flag
 GDP$83.3BCURRENT US$
Rnk 76 / 195
2013-2023
Flag
GDP GROWTH77.5%CURRENT US$
Rnk 32 / 195
2023
Flag
GDP PC $82,769CURRENT US$
Rnk 9 / 195
2013-2023
Flag
GDP PC GROWTH55%CURRENT US$
Rnk 40 / 195
2023
Flag
GDP PC$18,686CURRENT US$
Rnk 65 / 196
2013-2023
Flag
GDP PC GROWTH52.3%CURRENT US$
Rnk 43 / 195

About

United States-Panama Trade: In 2023, United States exported $5.29B to Panama. The main products that United States exported to Panama were Refined Petroleum ($1.27B), Crude Petroleum ($861M), and Petroleum Gas ($247M). Over the past 5 years the exports of United States to Panama have increased at an annualized rate of 0.62%, from $5.13B in 2018 to $5.29B in 2023.

In 2017, United States exported services to Panama worth $2.13B, with Transportation ($732M), Travel ($478M), and Financial services ($423M) being the largest in terms of value.

Panama-United States Trade: In 2023, Panama exported $385M to United States. The main products that Panama exported to United States were Non-fillet Fresh Fish ($67.9M), Precious Metal Scraps ($46.1M), and Bananas ($36.1M). Over the past 5 years the exports of Panama to United States have decreased at an annualized rate of 29.9%,  from $2.28B in 2018 to $385M in 2023.

In 2023, Panama did not export any services to United States.

Comparison: In 2023,  United States ranked 10 in the Economic Complexity Index (ECI 1.5), and 2 in total exports ($1.86T). That same year, Panama ranked 69 in the Economic Complexity Index (ECI -0.14), and 121 in total exports ($6.59B).

Company data: In 2023, leading companies such as Goya Foods (1.07k), Bedrosians Tile & Stone (400), and IKEA Group (136) were at the forefront of exporting goods from Panama to the United States. Conversely, Other (669), Goya Santo Domingo Sa (410), and Goya Santo Domingo S.a. (144) were notable for importing products to Panama from the United States.

Latest Trends

November, 2024

About

Overview In November 2024, United States exported $931M and imported $47M from Panama, resulting in a positive trade balance of $884M. Between November 2023 and November 2024 the exports of United States have decreased by $-59M (-5.96%) from $990M to $931M, while imports increased by $11.7M (33.2%) from $35.3M to $47M.

Trade In November 2024, the top exports of United States to Panama were Refined Petroleum ($388M), Aircraft parts (gliders, balloons, and powered... ($65.1M), Petroleum Gas ($50.8M), Commodities not elsewhere specified ($32.4M), and Telephones ($17.2M). In November 2024 the top imports of United States from Panama were Commodities not elsewhere specified ($12.4M), Non-fillet Fresh Fish ($4.74M), Precious Metal Scraps ($3.88M), Bananas ($3.57M), and Fish Fillets ($1.91M).

Origins In November 2024 the exports of United States were mainly from Texas ($312M), Mississippi ($139M), Florida ($105M), Washington ($60.2M), and Louisiana ($49.4M), while imports destinations were mainly Florida ($28.4M), Illinois ($5.13M), New York ($3.5M), Arizona ($2.38M), and Puerto Rico ($1.19M).

Growth In November 2024, the decrease in United States's year-by-year exports to Panama was explained primarily by an decrease in product exports in Aircraft parts (gliders, balloons, and powered... ($-84.7M or -56.5%), Hard Liquor ($-14.8M or -73.9%), and Office Machine Parts ($-6.19M or -74.8%). In November 2024, the increase in United States's year-by-year imports  from Panama was explained primarily by an increase in product imports  in N/A.

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)$-59M(-5.96%)
IMPORT GROWTH (November 2023 - November 2024)$11.7M(33.2%)
MAIN EXPORTER (November 2024)Texas$312M

This section shows exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United States over time.

To check Panama and United States trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, United States exported $5.29B to Panama. The main products exported from United States to Panama were Refined Petroleum ($1.27B), Crude Petroleum ($861M), and Petroleum Gas ($247M). During the last 5 years the exports of United States to Panama have increased at an annualized rate of 0.62%, from $5.13B in 2018 to $5.29B in 2023.

In 2018, Panama exported $385M to United States. The main products exported from Panama to United States were Non-fillet Fresh Fish ($67.9M), Precious Metal Scraps ($46.1M), and Bananas ($36.1M). During the last 5 years the exports of Panama to United States have decreased at an annualized rate of 29.9%, from $2.28B in 2023 to $385M in 2018.

Exports from United States (Flag) to Panama (Flag) (2023)

Exports from Panama (Flag) to United States (Flag) (2023)

Market Competitiveness

Color
United States
Top DestinationCanada$269B
Panama
Top DestinationChina$1.62B

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

In 2023, countries that imported more from United States than Panama included Canada ($269B), Mexico ($243B), and China ($154B).

In 2023, countries that imported more from Panama than United States included Bonaire ($1.16M).

Difference in imports from Panama (Flag) and United States (Flag) (2023)

Comparative Advantage United States - Panama

Flow
Scale

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

During 2023, United States had a large net trade with Panama in the exports of Mineral Products ($2.44B), Machines ($684M), and Foodstuffs ($520M).

During 2018, Panama had a large net trade with United States in the exports of Animal Products ($97.7M), Precious Metals ($69.4M), and Vegetable Products ($51M).

Economic Complexity

Competitive Landscape

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

Product Space of United States (Flag) and Panama (Flag) (2023)

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