Panama
ECON COMPLEXITY (2018)
0.1
RANK 61 OF 137
PRODUCT EXPORTS (2018)
$3.97B
RANK 119 OF 222
EXPORTS PER CAPITA (2018)
$950
RANK 192 OF 219
PRODUCT IMPORTS (2018)
$29.5B
RANK 67 OF 221
IMPORTS PER CAPITA (2018)
$7.07K
RANK 167 of 219
SERVICE EXPORTS (2018)
$13.8B
RANK 28 OF 88
SERVICE IMPORTS (2018)
$4.93B
RANK 41 OF 88
GDP (2018)
$65.1B
CURRENT US$
RANK 75 OF 196
GDP GROWTH (2008-2018)
159%
CURRENT US$
RANK 9 OF 196
GDP PC (2018)
$15,575
CURRENT US$
RANK 61 OF 196
GDP PC GROWTH (2008-2018)
118%
CURRENT US$
RANK 10 OF 196
Overview: In 2018 Panama was the number 75 economy in the world in terms of GDP (current US$), the number 119 in total exports, the number 67 in total imports, and the number 61 most complex economy according to the Economic Complexity Index (ECI). In 2018, Panama exported $3.97B and imported $29.5B, resulting in a negative trade balance of -$25.5B. In 2018, Panama’s exports per capita were $950 and its imports per capita were $7.07k.
Trade: The top exports of Panama are Refined Petroleum ($769M), Coal Tar Oil ($497M), Passenger and Cargo Ships ($424M), Bananas($304M), and Gold ($248M). The top imports of Panama are Refined Petroleum ($5.62B), Crude Petroleum ($3.59B), Passenger and Cargo Ships ($1.9B), Special Purpose Ships ($1.3B), and Oxygen Amino Compounds ($941M).
Destinations: Panama exports mostly to Ecuador ($1.06B), Netherlands ($290M), United States ($256M), Costa Rica ($219M), and Cyprus ($177M), and imports mostly from China ($6.42B), United States ($5.08B), Colombia ($3.07B), South Korea ($2.01B), and Brazil($1.91B).
Location: Panama borders Colombia and Costa Rica by land and Colombia and Ecuador by sea.
Exports
In 2018 Panama exported a total of $3.97B, making it the number 119 exporter in the world. During the last five reported years the exports of Panama have changed by -$3.58B from $7.55B in 2013 to $3.97B in 2018.
The most recent exports are led by Refined Petroleum ($769M), Coal Tar Oil ($497M), Passenger and Cargo Ships ($424M), Bananas ($304M), and Gold ($248M).
Imports
In 2018 Panama imported $29.5B, making it the number 67 trade destination in the world. During the last five reported years the imports of Panama changed by -$15.2B from $44.7B in 2013 to $29.5B in 2018.
The most recent imports of Panama are led by Refined Petroleum ($5.62B), Crude Petroleum ($3.59B), Passenger and Cargo Ships ($1.9B), Special Purpose Ships ($1.3B), and Oxygen Amino Compounds ($941M).
Trade Balance
As of 2018 Panama had a negative trade balance of $21.7B in net imports. As compared to their trade balance in 1995 when they still had a negative trade balance of $11.4B in net imports.
Destinations
The most common destination for the exports of Panama are Ecuador ($1.06B), Netherlands ($290M), United States ($256M), Costa Rica ($219M), and Cyprus ($177M).
Origins
The most common import partners for Panama are China ($6.42B), United States ($5.08B), Colombia ($3.07B), South Korea ($2.01B), and Brazil ($1.91B).