Trade Profiles
2021 Trade in commercial services
Transport
Travel Other commercial services
Industrial property
Merchandise trade Agricultural products Nonagricultural products
Panama
Panama
GDP (million current US$, 2020) GDP per capita (US$, 2018-2020) Current account balance (% GDP, 2020) Trade per capita (US$, 2018-2020) Trade (% GDP, 2018-2020)
52 938 14 589 -0.6 5 942 40.7
Rank in world trade, 2020 Merchandise excluding intra-EU trade Commercial services excluding intra-EU trade
Exports
87 63 58 36
Imports
83 59 89 64
MERCHANDISE TRADE Value
Million US$ Merchandise exports, f.o.b. Merchandise imports, c.i.f.
Annual percentage change
2020 9 483 14 740 2020 0.05
Share in world total exports (%)
2010-2020 -1 -1
2019 -1 -7
2020 -16 -31 2020 0.08
Share in world total imports (%)
Breakdown in economy's total exports
Breakdown in economy's total imports
By main commodity group, % (2019)
By main commodity group, % (2019)
Agricultural products: 12.2
Fuels and mining products: 1.1
Agricultural products: 6.6
Fuels and mining products: 28.6
Manufactures: 78.3
Other: 8.4
Manufactures: 64.8
Other: 0
By main destination, % (2017)
By main origin, % (2017)
United States of America: 20.2 Colombia: 8.9 Costa Rica: 6.7 Dominican Republic: 4.9
China: 19.8 European Union: 10 Mexico: 4.3
United States of America: 18.5 Singapore: 6.9 Other: 40.4
Agricultural Products Value
Top exported products (Million US$) HS2208 HS2402 HS1806 HS2103 HS2204
2017 . 295 118 16 15 12
Alcohol of less than 80% volume Cigars, cheroots, cigarillos Chocolate and other cocoa food Sauces and preparations therefor Wine of fresh grapes
Value
Top imported products (Million US$) HS2208 HS2106 HS2402 HS2309 HS2202
2017
Alcohol of less than 80% volume Other food preparations Cigars, cheroots, cigarillos Preparations of a kind used in animal feeding Waters containing added sugar
252 162 118 101 100
Share in economy's trade in agricultural products Exports 0%
20%
40%
Imports 60%
0%
HS2208
HS2208
HS2402
HS2106
HS1806
HS2402
HS2103
HS2309
HS2204
HS2202
5%
10%
15%
Million US$ Exports Imports
Value
2017 552 2 180
Annual percentage change
2010-2017 -1 7
2016 57 5
2017 -31 370
Non-Agricultural Products Value
Top exported products (Million US$) HS3004 HS2922 HS2935 HS3303 HS6402
2017
Medicaments in measured doses Oxygen-function amino-compounds Sulphonamides Perfumes and toilet waters Other footwear with outer soles
1 553 599 482 374 373
Value
Top imported products (Million US$) HS2710 HS3004 HS8703 HS2922 HS2935
2017
Petroleum oils, other than crude Medicaments in measured doses Motor cars for transport of persons Oxygen-function amino-compounds Sulphonamides
1 892 1 478 851 741 530
Share in economy's trade in non-agricultural products Exports 0%
280
10%
Imports 20%
0%
HS3004
HS2710
HS2922
HS3004
HS2935
HS8703
HS3303
HS2922
HS6402
HS2935
5%
10%
15%
Million US$ Exports Imports
Value
2017 10 046 19 744
Annual percentage change
2010-2017 0 4
2016 -4 -12
2017 -3 125
World Trade Organization – Trade Profiles 2021
Panama TRADE IN COMMERCIAL SERVICES Value
Million US$ Commercial services exports Commercial services imports
Annual percentage change
2020
2010-2020
8 502 3 009 2020 0.17
Share in world total exports (%) Breakdown in economy's total exports
2019
2020
1 4
-38 -40
3 1
2020 0.07
Share in world total imports (%) Breakdown in economy's total imports
By main services item, % (2020)
By main services item, % (2020)
Transport: 64.3 Other commercial services: 22.4
Travel: 13.1 Goods-related services: 0.2
Transport: 40.5 Other commercial services: 43.9
By main destination
Travel: 15.5 Goods-related services: 0.1
By main origin
Value
FATS sales Inward (million US$) Outward (million US$)
Annual percentage change
2020 na na
2010-2020 na na
2019 na na
2020 na na
Transport Panama
300
World
200 100 0
2010
2013
2016
Value
Million US$ Exports Imports
2020
Transport exports (Index 2010=100)
2020 5 466 1 218
Exports By sea (2020) By air (2020) By other (2020)
2010-2020 5 -2
Value
Share (%)
4 590 814 0
84.0 14.9 0.0
Annual percentage change 2019 4 -5
Imports By sea (2020) By air (2020) By other (2020)
2020 -23 -37
Value
Share (%)
937 281 0
76.9 23.1 0.0
Travel Panama
300
World
Value
Million US$ Exports Imports
200 100 0
2010
2013
2016
2020 1 117 465
2010-2020 -4 2
Annual percentage change 2019 -2 19
2020 -75 -67
2020
Travel exports (Index 2010=100)
Other Commercial Services and Goods-related Services Million US$
Exports of OCS by main item (2020)
16.8
16.9
55.2
2020
2010-2020
Other commercial services Exports 1 904 Imports 1 321
Financial services
11.1
Value
Other business services ICTs
5 6
2020
Goods-related services Exports Imports
Other
Annual percentage change
2010-2020
15 4
16 0
2019
2020
0 3
-14 -20
2019
2020
0 23
-12 -32
INDUSTRIAL PROPERTY Patent applications, 2019 Residents
34
Non-residents
328
Trademark applications, 2019 Total
362
World Trade Organization – Trade Profiles 2021
Residents
3 100
Non-residents
4 701
Industrial design applications, 2019 Total
7 801
Residents
na
Non-residents
92
Total
92
281