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Panama Trade Summary

2022

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 2022

Overall Exports and Imports for Panama 2022

Exports and imports of Panama in 2022 are below, along with number of countries and products

  • The total value of exports (FoB) was 3,652 million.
  • The total value of imports (CIF) was 15,224 million.
  • At the HS6 digit level, 395 products were exported to 96 countries and 3,698 products were imported from 107 countries.

Panama top 5 Export and Import partners 2022

Top five countries to which Panama exported in 2022 are below, along with the percent of total exports that went to that country:

  1. Panama exports to China worth US$ 1,195 million, with a partner share of 32.71 percent.
  2. Panama exports to Japan worth US$ 548 million, with a partner share of 15.02 percent.
  3. Panama exports to Korea, Rep. worth US$ 270 million, with a partner share of 7.39 percent.
  4. Panama exports to India worth US$ 236 million, with a partner share of 6.46 percent.
  5. Panama exports to Germany worth US$ 233 million, with a partner share of 6.38 percent.

Top five countries from which Panama imported goods in 2022 are below, along with percent of total imports that came from the country :

  1. Panama imports from Free Zones worth US$ 4,024 million, with a partner share of 26.43 percent.
  2. Panama imports from United States worth US$ 3,687 million, with a partner share of 24.22 percent.
  3. Panama imports from China worth US$ 1,645 million, with a partner share of 10.80 percent.
  4. Panama imports from Mexico worth US$ 653 million, with a partner share of 4.29 percent.
  5. Panama imports from Costa Rica worth US$ 497 million, with a partner share of 3.27 percent.

Panama Top 5 Productsexports imports at HS 6 digit level 2022

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 2,797,163.50 (US$ Thousands).
  2. Panama exported Bananas, including plantains, fresh or dried , worth 128,340.39 (US$ Thousands).
  3. Panama exported Frozen shrimps and prawns , worth 68,193.66 (US$ Thousands).
  4. Panama exported Crude palm oil , worth 49,298.80 (US$ Thousands).
  5. Panama exported Other medicaments of mixed or unmixed products, , worth 46,095.04 (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 3,169,146.08 (US$ Thousands).
  2. Panama imported Other medicaments of mixed or unmixed products, , worth 585,623.44 (US$ Thousands).
  3. Panama imported Automobiles with reciprocating piston engine di , worth 253,313.32 (US$ Thousands).
  4. Panama imported Automobiles with reciprocating piston engine di , worth 204,363.15 (US$ Thousands).
  5. Panama imported Maize (excl. seed) , worth 198,572.81 (US$ Thousands).

Exports and Imports of Product Groups 2022

Exports and imports of products by stages of processing in 2022 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2022

Tariffs imposed by Panama in 2022 are below

  • The maximum rate of tariff in percentage on any product was 260 percent.
  • The simple average tariff across all products was 5.91 percent.
  • The trade weighted average tariff was 6.09 .
  • The total duty free imports in thousands of US dollars were 4,500,509.10 and duty free tariff line items share was 33.66 percent.

Development Indicators 2022

Key Development Indicators of Panama in 2022 are below

  • Panama GDP in current US dollar was 76,523 million.
  • GNI per capita, Atlas method (current US$) was 16,750.00 .
  • Panama Trade balance: as % of GDP was not available.
  • Trade balance in current US$ was not available.
  • Trade as percentage of GDP was not available .
  • Trade in services as percentage of GDP was 27.23 .

Trade Indicators 2022

Trade Indicators for Panama in 2022 are below

  • Hirschman Herfindahl market concentration index was 0.07.
  • Index of export market penetration was 4.51.
  • World Growth in percentage was 5.18 and Panama Country Growth was 0.88 .