Panama (PAN)
Annual exports and imports in 2024 (USD).
Source: UN Comtrade. Warehouse 1: partner = World totals by HS4 and year.
Panama - trade dependency by partner, 2024 (USD)
| Rank | Partner | Export dependency | Import dependency | Total dependency |
|---|---|---|---|---|
| 1 | USA (USA) | 20.2% $233.79M | 17.3% $2.42B | 17.5% $2.65B |
| 2 | China (CHN) | 4.3% $49.37M | 15.4% $2.15B | 14.5% $2.20B |
| 3 | Panama (PAN) | 0.0% $0 | 5.8% $809.34M | 5.3% $809.34M |
| 4 | Mexico (MEX) | 4.0% $46.55M | 4.5% $630.92M | 4.5% $677.47M |
| 5 | Costa Rica (CRI) | 4.2% $48.13M | 3.5% $488.66M | 3.5% $536.79M |
| 6 | Colombia (COL) | 1.4% $16.08M | 2.4% $337.18M | 2.3% $353.26M |
| 7 | Spain (ESP) | 1.3% $15.53M | 2.3% $325.74M | 2.3% $341.28M |
| 8 | Guatemala (GTM) | 1.9% $21.80M | 1.9% $261.50M | 1.9% $283.30M |
| 9 | Japan (JPN) | 0.7% $8.55M | 1.8% $248.14M | 1.7% $256.69M |
| 10 | Netherlands (NLD) | 12.1% $140.39M | 0.8% $111.67M | 1.7% $252.06M |
- Panama's total trade in 2024 amounted to $15.1B, comprising $1.2B in exports and $14.0B in imports.
- The country's trade balance for 2024 was -$12.8B.
- Globally, Panama ranked 101st in total trade, 109th in exports, and 83rd in imports.
- The United States was Panama's top trading partner for both exports and imports, with export values of $233.8M (20.2%) and import values of $2.4B (17.3%).
- Panama's leading export category was Fish and crustaceans, molluscs and other aquatic invertebrates, valued at $194.0M.
- The most significant import category for Panama was Mineral fuels and oils, with a total import value of $2.6B.
Panama's Trade Landscape in 2024
In 2024, Panama's international trade activity saw exports valued at $1.2B and imports at $14.0B, culminating in a total trade figure of $15.1B. This resulted in a trade balance of -$12.8B for the year. The country's global trade standing was ranked 101st for total trade.
Top Export Partners and Products
Panama's export market in 2024 was led by shipments to the United States, which accounted for 20.2% of total exports with a value of $233.8M. Other key export destinations included the Netherlands ($140.4M) and India ($54.5M). The most significant export product for Panama was Fish and crustaceans, molluscs and other aquatic invertebrates, generating $194.0M in export revenue. Following this was Fruit and nuts, edible; peel of citrus fruit or melons, with exports of $184.7M.
Top Import Sources and Products
For imports, the United States was the largest source, providing goods worth $2.4B, which is 17.3% of Panama's total imports. China followed, with imports valued at $2.2B (15.4%). In terms of products, Mineral fuels and oils were the most imported category, with a value of $2.6B, making up 18.8% of all imports. The second-largest import category was Vehicles, valued at $1.3B.
Exports
Panama - exports over time (Exports), 2015-2024 (USD)
Top export categories
Largest HS2 categories by export value in the selected year.
Panama - export composition by product categories (Exports), 2024 (USD)
Panama - export composition by 4-digit product groups (Exports), 2024 (USD)
Imports
Panama - imports over time (Imports), 2015-2024 (USD)
Top import categories
Largest HS2 categories by import value in the selected year.