Panama

Compare Panama →

PA · PAN · BACI 591 · latest data 2024

Exports

$3.8B USD, nominal · 2024

= $3,826 M57.9% over 5 yrs (down)

Imports

$37.9B USD, nominal · 2024

= $37,868 M8.8% over 5 yrs (up)

Trade balancedeficit

−$34.0B USD, nominal · 2024

= −$34,043 M

Total trade

$41.7B USD, nominal · 2024

= $41,694 M5.0% over 5 yrs (down)

World position: #128 of 225 exporters · bottom half · #64 of 225 importers · top half · 2024
World export share since 1995: −0.0 pp

Trade timeline

Panama's exports grew from $3.1B in 1995 to $3.8B in 2024; the 2024 balance was −$34.0B.

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Exports, imports, trade balance and total trade of Panama per year, USD millions.
Year	Exports ($M)	Imports ($M)	Balance ($M)	Total ($M)
1995	$3,107 M	$14,421 M	−$11,314 M	$17,527 M
1996	$3,196 M	$14,983 M	−$11,787 M	$18,180 M
1997	$2,852 M	$15,073 M	−$12,221 M	$17,925 M
1998	$2,428 M	$14,888 M	−$12,460 M	$17,316 M
1999	$2,451 M	$15,423 M	−$12,973 M	$17,874 M
2000	$2,630 M	$14,317 M	−$11,687 M	$16,947 M
2001	$3,163 M	$12,462 M	−$9,299 M	$15,624 M
2002	$3,186 M	$11,881 M	−$8,695 M	$15,066 M
2003	$3,225 M	$13,607 M	−$10,382 M	$16,832 M
2004	$3,480 M	$16,072 M	−$12,592 M	$19,552 M
2005	$4,769 M	$18,465 M	−$13,696 M	$23,234 M
2006	$7,007 M	$25,462 M	−$18,455 M	$32,469 M
2007	$8,226 M	$30,373 M	−$22,148 M	$38,599 M
2008	$9,656 M	$39,883 M	−$30,227 M	$49,539 M
2009	$10,680 M	$40,290 M	−$29,610 M	$50,971 M
2010	$10,602 M	$49,019 M	−$38,417 M	$59,622 M
2011	$13,667 M	$53,100 M	−$39,433 M	$66,767 M
2012	$14,243 M	$55,239 M	−$40,996 M	$69,482 M
2013	$14,491 M	$46,428 M	−$31,937 M	$60,919 M
2014	$12,107 M	$40,945 M	−$28,839 M	$53,052 M
2015	$9,913 M	$34,122 M	−$24,209 M	$44,035 M
2016	$9,522 M	$31,752 M	−$22,230 M	$41,275 M
2017	$8,662 M	$32,939 M	−$24,277 M	$41,602 M
2018	$9,180 M	$34,663 M	−$25,482 M	$43,843 M
2019	$9,079 M	$34,803 M	−$25,724 M	$43,882 M
2020	$6,754 M	$27,648 M	−$20,894 M	$34,402 M
2021	$6,905 M	$30,433 M	−$23,529 M	$37,338 M
2022	$7,062 M	$43,091 M	−$36,028 M	$50,153 M
2023	$6,589 M	$34,788 M	−$28,200 M	$41,377 M
2024	$3,825 M	$37,868 M	−$34,043 M	$41,694 M

30 rows

World share & rank

World export share moved from 0.1% in 1995 to 0.0% in 2024; export rank #73 → #128.

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World export and import share in percent, and world ranks, of Panama per year.
Year	Export share (%)	Import share (%)	Export rank	Import rank
1995	0.06%	0.28%	#73	#44
1996	0.06%	0.28%	#76	#45
1997	0.05%	0.27%	#83	#46
1998	0.04%	0.27%	#84	#46
1999	0.04%	0.27%	#85	#42
2000	0.04%	0.22%	#93	#48
2001	0.05%	0.20%	#86	#52
2002	0.05%	0.18%	#87	#56
2003	0.04%	0.18%	#92	#59
2004	0.04%	0.17%	#99	#59
2005	0.05%	0.18%	#94	#58
2006	0.06%	0.21%	#88	#55
2007	0.06%	0.22%	#86	#57
2008	0.06%	0.25%	#88	#54
2009	0.09%	0.32%	#77	#50
2010	0.07%	0.33%	#81	#50
2011	0.08%	0.30%	#80	#52
2012	0.08%	0.31%	#80	#52
2013	0.08%	0.25%	#81	#56
2014	0.07%	0.22%	#90	#58
2015	0.06%	0.21%	#91	#59
2016	0.06%	0.20%	#90	#60
2017	0.05%	0.19%	#96	#62
2018	0.05%	0.18%	#98	#65
2019	0.05%	0.19%	#97	#64
2020	0.04%	0.16%	#106	#66
2021	0.03%	0.14%	#114	#69
2022	0.03%	0.18%	#118	#63
2023	0.03%	0.15%	#120	#67
2024	0.02%	0.17%	#128	#64

30 rows

Trading partners

China was Panama's top trading partner in 2024, at 14.3% of total trade; the top five partners covered 61.3%.

Year

Top partner share: 14.3%
Top-5 share: 61.3%
Partners: 155
Partner HHI (0–1): 0.087

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United States $444M

Costa Rica $382M

Türkiye $155M

South Korea $149M

Guatemala $130M

Ecuador $122M

Germany $96M

Japan $83M

China $81M

Guyana $68M

Peru $61M

Spain $36M

Colombia $30M

Mexico $29M

Brazil $16M

View partner table

Top partners of Panama in 2024, USD millions.
Rank	Partner	Exports to ($M)	Imports from ($M)	Total ($M)	Balance ($M)
#1	China	$81 M	$5,899 M	$5,980 M	−$5,818 M
#2	Ecuador	$122 M	$5,663 M	$5,785 M	−$5,542 M
#3	United States	$444 M	$4,610 M	$5,054 M	−$4,166 M
#4	Japan	$83 M	$4,347 M	$4,430 M	−$4,265 M
#5	Colombia	$30 M	$4,298 M	$4,328 M	−$4,268 M
#6	Guyana	$68 M	$2,536 M	$2,604 M	−$2,468 M
#7	Spain	$36 M	$2,167 M	$2,203 M	−$2,131 M
#8	South Korea	$149 M	$1,321 M	$1,471 M	−$1,172 M
#9	Costa Rica	$382 M	$546 M	$928 M	−$164 M
#10	Brazil	$16 M	$902 M	$917 M	−$886 M
#11	Mexico	$29 M	$678 M	$707 M	−$649 M
#12	Peru	$61 M	$611 M	$672 M	−$549 M
#13	Guatemala	$130 M	$318 M	$448 M	−$188 M
#14	Germany	$96 M	$314 M	$410 M	−$219 M
#15	Türkiye	$155 M	$230 M	$385 M	−$75 M

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Products & sectors

Product composition of Panama's trade in 2024.

Year

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Concentration & risk

Panama's export partners diversified over 1995–2024 — HHI 0.065 → 0.044, a diversified export base across 147 partners in 2024.

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Export and import partner HHI (0–1) and partner counts of Panama per year.
Year	Export HHI	Import HHI	Export partners	Import partners
1995	0.065	0.267	100	104
1996	0.069	0.205	111	110
1997	0.067	0.219	112	101
1998	0.053	0.203	124	108
1999	0.054	0.225	130	112
2000	0.051	0.223	135	114
2001	0.052	0.181	133	117
2002	0.050	0.179	130	117
2003	0.045	0.190	142	118
2004	0.050	0.165	140	118
2005	0.061	0.180	140	127
2006	0.043	0.140	158	126
2007	0.069	0.128	158	137
2008	0.048	0.131	151	132
2009	0.088	0.147	154	130
2010	0.073	0.159	166	140
2011	0.119	0.151	171	146
2012	0.121	0.131	167	136
2013	0.088	0.107	163	135
2014	0.079	0.097	165	135
2015	0.065	0.101	168	134
2016	0.077	0.110	166	133
2017	0.062	0.097	166	141
2018	0.093	0.100	167	134
2019	0.055	0.105	163	137
2020	0.041	0.111	159	132
2021	0.061	0.093	164	131
2022	0.061	0.096	157	134
2023	0.089	0.093	146	137
2024	0.044	0.098	147	122

30 rows

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