Annual International Trade Statistics by Country (HS)
Publication date: 2022-11-14
Reporting period: 2002 - 2021
Timeseries: 194 million
Source:TrendEconomy
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Panama | Imports and Exports | World | ALL COMMODITIES | Value (US$) and Value Growth, YoY (%) | 2010 - 2021

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TOTAL. ALL COMMODITIESPanamaWorldExportsValue (US$)10,986,602,587.0014,554,815,811.0015,944,740,415.0014,732,126,258.0012,959,956,513.0011,347,872,260.0011,194,931,374.0010,600,819,757.008,658,798,915.003,781,922,651.00
Value Growth, YoY (%)2.5132.479.54-7.60-12.02-12.43-1.34-5.30-56.32
ImportsValue (US$)16,737,103,355.0021,801,598,457.0014,585,177,183.0012,684,825,298.0011,065,904,118.0010,374,517,098.009,238,038,728.0021,934,113,569.0014,716,521,688.0013,312,799,623.00
Value Growth, YoY (%)20.6130.25-33.10-13.02-12.76-6.24-10.95137.43-9.53

The value of merchandise exports from Panama totalled $ 3.78 billion in 2021. Overall commodity exports from Panama decreased by 56% compared to 2020. Merchandise exports decreased by $ 4.87 billion (the value of merchandise exports from Panama amounted to $8.65 billion in 2020)

Panama's exports 2021 by country

Top export destinations of commodities from Panama in 2021:

  • China with a share of 31% (1.19 billion US$)
  • Japan with a share of 13.1% (497 million US$)
  • Korea with a share of 10.2% (386 million US$)
  • Spain with a share of 8.67% (328 million US$)
  • India with a share of 5.06% (191 million US$)
  • Germany with a share of 4.85% (183 million US$)
  • USA with a share of 4% (151 million US$)
  • Netherlands with a share of 3.56% (134 million US$)
  • Bulgaria with a share of 3.09% (117 million US$)
  • Brazil with a share of 2.38% (90 million US$)

Exports structure from Panama in 2021 represented by the following main commodity groups:

  • 77% (2.93 billion US$): 26 - Ores, slag and ash
  • 5.15% (195 million US$): 08 - Edible fruit and nuts; peel of citrus fruit or melons
  • 2.71% (102 million US$): 03 - Fish and crustaceans, molluscs and other aquatic invertebrates
  • 1.62% (61 million US$): 15 - Animal, vegetable or microbial fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes
  • 1.42% (53 million US$): 72 - Iron and steel
  • 1.33% (50 million US$): 44 - Wood and articles of wood; wood charcoal
  • 1.23% (46 million US$): 02 - Meat and edible meat offal
  • 0.916% (34 million US$): 30 - Pharmaceutical products
  • 0.852% (32 million US$): 76 - Aluminum and articles thereof
  • 0.725% (27 million US$): 23 - Residues and waste from the food industries; prepared animal feed

What did Panama export in 2021?

Panama's Top Exports in 2021:

  • 77% ($2.93 billion): 2603 - Copper ores and concentrates
  • 4.56% ($172 million): 0803 - Bananas, including plantains, fresh or dried
  • 1.4% ($53 million): 7204 - Ferrous waste and scrap; remelting scrap ingots of iron or steel.
  • 1.31% ($49 million): 0302 - Fish, fresh or chilled, excluding fish fillets and other fish meat of heading 0304
  • 1.28% ($48 million): 1511 - Palm oil and its fractions, whether or not refined, but not chemically modified
  • 1.24% ($47 million): 4403 - Wood in the rough, whether or not stripped of bark or sapwood, or roughly squared
  • 1.02% ($38 million): 0306 - Crustaceans; in shell or not, live, fresh, chilled, frozen, dried, salted or in brine; smoked, cooked or not before or during smoking; in shell, steamed or boiled, whether or not chilled, frozen, dried, salted or in brine
  • 0.89% ($33 million): 3004 - Medicaments (excluding goods of heading 30.02, 30.05 or 30.06) consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses (including those in the form of transdermal administration systems) or in forms or packings for retail sale
  • 0.86% ($32 million): 0202 - Meat of bovine animals, frozen
  • 0.719% ($27 million): 0901 - Coffee, whether or not roasted or decaffeinated; coffee husks and skins; coffee substitutes containing coffee in any proportion.

The value of merchandise imports to Panama totalled $ 13.3 billion in 2021. Overall commodity imports to Panama decreased by 9.53% compared to 2020. Merchandise imports decreased by $ 1.4 billion (the value of merchandise imports to Panama was equal to $14.7 billion in 2020)

Panama's imports 2021 by country

Top trading partners (import sources) of Panama in 2021:

  • USA with a share of 25% (3.39 billion US$)
  • Free Zones with a share of 22% (3.05 billion US$)
  • China with a share of 11.8% (1.57 billion US$)
  • Mexico with a share of 4.88% (649 million US$)
  • Costa Rica with a share of 4.03% (536 million US$)
  • Colombia with a share of 3.2% (426 million US$)
  • Spain with a share of 2.06% (275 million US$)
  • Guatemala with a share of 2.05% (273 million US$)
  • Japan with a share of 1.78% (237 million US$)
  • Brazil with a share of 1.72% (229 million US$)

Imports structure to Panama in 2021 represented by the following main commodity groups:

  • 16.5% (2.2 billion US$): 27 - Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes
  • 8.98% (1.19 billion US$): 84 - Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof
  • 7.2% (958 million US$): 87 - Vehicles other than railway or tramway rolling stock, and parts and accessories thereof
  • 6.83% (910 million US$): 85 - Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles
  • 5.81% (774 million US$): 30 - Pharmaceutical products
  • 3.92% (522 million US$): 39 - Plastics and articles thereof
  • 2.7% (360 million US$): 73 - Articles of iron or steel
  • 2.33% (310 million US$): 62 - Articles of apparel and clothing accessories, not knitted or crocheted
  • 2.19% (291 million US$): 38 - Miscellaneous chemical products
  • 2.11% (281 million US$): 21 - Miscellaneous edible preparations

What did Panama import in 2021?

Panama's Top Imports in 2021:

  • 14.5% ($1.93 billion): 2710 - Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils
  • 5.32% ($708 million): 8703 - Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 87.02), including station wagons and racing cars
  • 4.94% ($658 million): 3004 - Medicaments (excluding goods of heading 30.02, 30.05 or 30.06) consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses (including those in the form of transdermal administration systems) or in forms or packings for retail sale
  • 1.78% ($237 million): 8517 - Electrical apparatus for line telephony or line telegraphy, including line telephone sets with cordless handsets and telecommunication apparatus for carrier-current line systems or for digital line systems; videophones
  • 1.5% ($199 million): 1005 - Maize (corn)
  • 1.42% ($189 million): 2106 - Food preparations not elsewhere specified or included
  • 1.32% ($176 million): 8471 - Automatic data processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, not elsewhere specified or included
  • 1.07% ($143 million): 3923 - Articles for the conveyance or packing of goods, of plastics; stoppers, lids, caps and other closures, of plastics
  • 1.05% ($140 million): 2711 - Petroleum gases and other gaseous hydrocarbons
  • 1.03% ($138 million): 2309 - Preparations of a kind used in animal feeding.

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Panama | Imports and Exports | World | ALL COMMODITIES | Value (US$) and Value Growth, YoY (%) | 2010 - 2021