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Panama Trade Summary

2020

Panama exports, imports, tariff by year.

Country and Region
Year
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Please note the exports, imports and tariff data are based on reported data and not gap filled. Please check the Data Availability for coverage.

Imports/Exports


Products

TRADE SUMMARY FOR PANAMA 2020

Overall Exports and Imports for Panama 2020

Exports and imports of Panama in 2020 are below, along with number of countries and products

  • The total value of exports (FoB) was 8,659 million.
  • The total value of imports (CIF) was 14,717 million.
  • At the HS6 digit level, 2,871 products were exported to 111 countries and 3,796 products were imported from 112 countries.

Panama top 5 Export and Import partners 2020

Top five countries to which Panama exported in 2020 are below, along with the percent of total exports that went to that country:

  1. Panama exports to United States worth US$ 905 million, with a partner share of 10.45 percent.
  2. Panama exports to Costa Rica worth US$ 728 million, with a partner share of 8.41 percent.
  3. Panama exports to Unspecified worth US$ 692 million, with a partner share of 8.00 percent.
  4. Panama exports to Colombia worth US$ 569 million, with a partner share of 6.57 percent.
  5. Panama exports to Guatemala worth US$ 488 million, with a partner share of 5.63 percent.

Top five countries from which Panama imported goods in 2020 are below, along with percent of total imports that came from the country :

  1. Panama imports from China worth US$ 3,395 million, with a partner share of 23.07 percent.
  2. Panama imports from United States worth US$ 2,707 million, with a partner share of 18.39 percent.
  3. Panama imports from Free Zones worth US$ 1,604 million, with a partner share of 10.90 percent.
  4. Panama imports from Mexico worth US$ 753 million, with a partner share of 5.12 percent.
  5. Panama imports from Singapore worth US$ 393 million, with a partner share of 2.67 percent.

Panama Top 5 Productsexports imports at HS 6 digit level 2020

The top five exported HS 6 digit level products to world by Panama along with trade value are:

  1. Panama exported Other medicaments of mixed or unmixed products, , worth US$ 1,297,800.96 million.
  2. Panama exported Transmission apparatus, for radioteleph incorpo , worth US$ 434,065.91 million.
  3. Panama exported Storage units, whether or not presented with th , worth US$ 351,274.56 million.
  4. Panama exported Copper ores and concentrates , worth US$ 252,068.09 million.
  5. Panama exported Perfumes and toilet waters , worth US$ 230,648.16 million.

The top five imported HS 6 digit level products from world by Panama along with trade value are

  1. Panama imported Other medicaments of mixed or unmixed products, , worth US$ 1,433,767.67 million.
  2. Panama imported Petroleum oils, etc, (excl. crude); preparation , worth US$ 779,775.78 million.
  3. Panama imported Transmission apparatus, for radioteleph incorpo , worth US$ 499,529.51 million.
  4. Panama imported Storage units, whether or not presented with th , worth US$ 356,472.04 million.
  5. Panama imported Television receivers including video monitors a , worth US$ 188,064.15 million.

Exports and Imports of Product Groups 2020

Exports and imports of products by stages of processing in 2020 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2020

Tariffs imposed by Panama in 2020 are below

  • The maximum rate of tariff in percentage on any product was 260 percent.
  • The simple average tariff across all products was 6.19 percent.
  • The trade weighted average tariff was 5.77 .
  • The total duty free imports in thousands of US dollars were 7,773,421.56 and duty free tariff line items share was 32.19 percent.

Development Indicators 2020

Key Development Indicators of Panama in 2020 are below

  • Panama GDP in current US dollar was 57,087 million.
  • GNI per capita, Atlas method (current US$) was 13,040.00 .
  • Panama Trade balance: as % of GDP was not available.
  • Trade balance in current US$ was not available.
  • Trade as percentage of GDP was not available .
  • Trade in services as percentage of GDP was 19.98 .

Trade Indicators 2020

Trade Indicators for Panama in 2020 are below

  • Hirschman Herfindahl market concentration index was 0.06.
  • Index of export market penetration was 4.70.
  • World Growth in percentage was -3.75 and Panama Country Growth was -3.49 .