2023
Exports
$691kWorld Rnk 101 / 194
Flag Rnk 278 / 1046
2023
PRODUCT COMPLEXITY IN Essential Oils
-1.17Rnk 872 / 1025
2023
Imports
$3.39MWorld Rnk 73 / 217
Flag Rnk 445 / 1151
2023
ECONOMIC COMPLEXITY of Panama
-0.14Rnk 69 / 132

About

Exports In 2023, Panama exported $691k in Essential Oils, making it the 101st largest exporter of Essential Oils in the world. At the same year, Essential Oils was the 278th most exported product in Panama. The main destination of Essential Oils exports from Panama are: France ($369k), Costa Rica ($198k), Netherlands ($42.5k), Ecuador ($33.7k), and India ($33.2k).

The fastest growing export markets for Essential Oils of Panama between 2022 and 2023 were France ($368k), Costa Rica ($72k), and Ecuador ($31.7k).

Imports In 2023, Panama imported $3.39M in Essential Oils, becoming the 73rd largest importer of Essential Oils in the world. At the same year, Essential Oils was the 445th most imported product in Panama. Panama imports Essential Oils primarily from: United States ($2.06M), Spain ($814k), Germany ($128k), India ($83.7k), and Costa Rica ($77.2k).

The fastest growing import markets in Essential Oils for Panama between 2022 and 2023 were United States ($1.52M), Spain ($543k), and Germany ($119k).

Latest Trends

Jan 2025

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Essential Oils. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$691k
IMPORTS (2023)$3.39M
NET TRADE (2023)-$2.7M

In 2023, Panama exported $691k in Essential Oils. The main destinations of Panama exports on Essential Oils were France ($369k), Costa Rica ($198k), Netherlands ($42.5k), Ecuador ($33.7k), and India ($33.2k).

In 2023, Panama imported $3.39M in Essential Oils, mainly from United States ($2.06M), Spain ($814k), Germany ($128k), India ($83.7k), and Costa Rica ($77.2k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Essential Oils EXPORT MARKETS FOR Panama WERE (2022 - 2023):
France$368k (45.4k%)
Costa Rica$72k (56.9%)
Ecuador$31.7k (1.6k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Essential Oils BY Panama WERE (2022 - 2023):
Netherlands-$62.8k (-59.7%)
Brazil-$27k (-100%)
Guatemala-$15k (-80%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Panama's main exporting competitors in Essential Oils were:
In 2023, Panama's main importing competitors in Essential Oils were:

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Trade Value of Essential Oils by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALNetherlands+ $37k
TOP IMPORT POTENTIALIndia+ $154k

Essential Oils’s highest export potential is Netherlands. With an export gap of $37k.   Essential Oils’s highest import potential is India with an import gap of $154k.

See methodology.

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