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Panama Trade Summary

2021

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 2021

Overall Exports and Imports for Panama 2021

Exports and imports of Panama in 2021 are below, along with number of countries and products

  • The total value of exports (FoB) was 3,782 million.
  • The total value of imports (CIF) was 13,313 million.
  • At the HS6 digit level, 379 products were exported to 99 countries and 3,743 products were imported from 105 countries.

Panama top 5 Export and Import partners 2021

Top five countries to which Panama exported in 2021 are below, along with the percent of total exports that went to that country:

  1. Panama exports to China worth US$ 1,199 million, with a partner share of 31.71 percent.
  2. Panama exports to Japan worth US$ 497 million, with a partner share of 13.15 percent.
  3. Panama exports to Korea, Rep. worth US$ 387 million, with a partner share of 10.23 percent.
  4. Panama exports to Spain worth US$ 328 million, with a partner share of 8.68 percent.
  5. Panama exports to India worth US$ 192 million, with a partner share of 5.06 percent.

Top five countries from which Panama imported goods in 2021 are below, along with percent of total imports that came from the country :

  1. Panama imports from United States worth US$ 3,395 million, with a partner share of 25.50 percent.
  2. Panama imports from Free Zones worth US$ 3,052 million, with a partner share of 22.93 percent.
  3. Panama imports from China worth US$ 1,578 million, with a partner share of 11.85 percent.
  4. Panama imports from Mexico worth US$ 650 million, with a partner share of 4.88 percent.
  5. Panama imports from Costa Rica worth US$ 537 million, with a partner share of 4.03 percent.

Panama Top 5 Productsexports imports at HS 6 digit level 2021

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

  1. Panama exported Copper ores and concentrates , worth 2,930,783.34 (US$ Thousands).
  2. Panama exported Bananas, including plantains, fresh or dried , worth 172,506.72 (US$ Thousands).
  3. Panama exported Crude palm oil , worth 48,222.39 (US$ Thousands).
  4. Panama exported Keruing, Ramin, Kapur, Teak, Jongkong, Merbau, , worth 46,862.93 (US$ Thousands).
  5. Panama exported Waste and scrap, cast iron , worth 45,211.03 (US$ Thousands).

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

  1. Panama imported Petroleum oils, etc, (excl. crude); preparation , worth 1,930,451.87 (US$ Thousands).
  2. Panama imported Other medicaments of mixed or unmixed products, , worth 608,022.45 (US$ Thousands).
  3. Panama imported Automobiles with reciprocating piston engine di , worth 267,548.65 (US$ Thousands).
  4. Panama imported Maize (excl. seed) , worth 196,057.68 (US$ Thousands).
  5. Panama imported Transmission apparatus, for radioteleph incorpo , worth 191,432.00 (US$ Thousands).

Exports and Imports of Product Groups 2021

Exports and imports of products by stages of processing in 2021 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2021

Tariffs imposed by Panama in 2021 are below

  • The maximum rate of tariff in percentage on any product was 260 percent.
  • The simple average tariff across all products was 5.99 percent.
  • The trade weighted average tariff was 6.43 .
  • The total duty free imports in thousands of US dollars were 4,275,754.56 and duty free tariff line items share was 33.38 percent.

Development Indicators 2021

Key Development Indicators of Panama in 2021 are below

  • Panama GDP in current US dollar was 67,407 million.
  • GNI per capita, Atlas method (current US$) was 14,660.00 .
  • Panama Trade balance: as % of GDP was not available.
  • Trade balance in current US$ was not available.
  • Trade as percentage of GDP was not available .
  • Trade in services as percentage of GDP was 21.94 .

Trade Indicators 2021

Trade Indicators for Panama in 2021 are below

  • Hirschman Herfindahl market concentration index was 0.06.
  • Index of export market penetration was 4.86.
  • World Growth in percentage was 12.50 and Panama Country Growth was 19.43 .