2023
Exports
$172MWorld Rnk 64 / 214
Flag Rnk 6 / 1046
2023
PRODUCT COMPLEXITY IN Packaged Medicaments
0.63Rnk 313 / 1025
2023
Imports
$763MWorld Rnk 64 / 226
Flag Rnk 6 / 1151
2023
ECONOMIC COMPLEXITY of Panama
-0.14Rnk 69 / 132

About

Exports In 2023, Panama exported $172M in Packaged Medicaments, making it the 64th largest exporter of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 6th most exported product in Panama. The main destination of Packaged Medicaments exports from Panama are: Dominican Republic ($32.3M), Costa Rica ($25.7M), Jamaica ($23.9M), Barbados ($22.6M), and Peru ($14.2M).

The fastest growing export markets for Packaged Medicaments of Panama between 2022 and 2023 were Honduras ($8.27M), Ecuador ($6.25M), and Costa Rica ($2.74M).

Imports In 2023, Panama imported $763M in Packaged Medicaments, becoming the 64th largest importer of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 6th most imported product in Panama. Panama imports Packaged Medicaments primarily from: Germany ($134M), Switzerland ($76.8M), Mexico ($59.7M), Guatemala ($47.1M), and France ($41.1M).

The fastest growing import markets in Packaged Medicaments for Panama between 2022 and 2023 were Switzerland ($45.7M), Germany ($41.1M), and Netherlands ($19.8M).

Latest Trends

Dec 2024

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 Packaged Medicaments. 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)$172M
IMPORTS (2023)$763M
NET TRADE (2023)-$590M

In 2023, Panama exported $172M in Packaged Medicaments. The main destinations of Panama exports on Packaged Medicaments were Dominican Republic ($32.3M), Costa Rica ($25.7M), Jamaica ($23.9M), Barbados ($22.6M), and Peru ($14.2M).

In 2023, Panama imported $763M in Packaged Medicaments, mainly from Germany ($134M), Switzerland ($76.8M), Mexico ($59.7M), Guatemala ($47.1M), and France ($41.1M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Packaged Medicaments EXPORT MARKETS FOR Panama WERE (2022 - 2023):
Honduras$8.27M (4.03k%)
Ecuador$6.25M (1.37k%)
Costa Rica$2.74M (11.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Packaged Medicaments BY Panama WERE (2022 - 2023):
Guatemala-$6.71M (-52.5%)
Trinidad and Tobago-$6.22M (-100%)
Bermuda-$2.14M (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Panama's main exporting competitors in Packaged Medicaments were:
In 2023, Panama's main importing competitors in Packaged Medicaments were:

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Trade Value of Packaged Medicaments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALColombia+ $5.64M
TOP IMPORT POTENTIALUnited States+ $34.5M

Packaged Medicaments’s highest export potential is Colombia. With an export gap of $5.64M.   Packaged Medicaments’s highest import potential is United States with an import gap of $34.5M.

See methodology.

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