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Panama export Statistics

Panama Export Data

The Republic of Panama is another name for Panama. Panama is a transcontinental country that includes both the northern and central regions of South and North America. Costa Rica, Colombia, the Caribbean Sea, and the Pacific Ocean are the two nations with which the nation has boundaries. In terms of total land area, Panama ranks eighth among the countries in North America. Panama occupies 57th place in the world in terms of land area, with a total area of about 75,417 km^2. According to the Panama trade data, out of 226 countries, Panama was the world's 84th largest exporter of products. The global trade landscape is constantly evolving, and staying ahead of the curve is crucial for businesses looking to capitalize on new market opportunities. For those interested in exploring the Panama export market, reliable and up-to-date data is essential.

According to Panama's export data, Panama exported goods worth a total of $15.7 billion in 2023. Panama's total commodity exports grew by 8% from the previous year to 2023. Panama’s current total GDP is $83.38 billion, with a GDP export share of 47.92%. Panama is a part of trading blocs such as CAFTA and WTO. According to Panama trade data and trade statistics, ores, slag, and ash are the biggest exports of Panama, while China is its biggest export partner. Let us delve into the significance of Panama customs data and how it can assist businesses in making informed decisions in 2023. We will also explore insights into Panama’s export data and key export trends.

Panama Customs Export Data | Panama Trade Shipment Data

84

The country has been ranked 84th in global exports, showing a significant position in the international trade landscape.

0.1%

With a mere 0.1% share in global export trade, it becomes evident that its presence in the international export market is fairly on the rise.

CHINA

China holds a significant role as the largest export partner of the country in terms of goods exports.

ORES, SLAG, AND ASH

Ores, slag, and ash are the major and biggest export commodities of the country, playing a vital role in its economy. 

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Top 10 Exports of Panama by HS Code

Panama, a vibrant Latin American nation, boasts a diverse economy driven by a range of lucrative exports. As per Panama shipment data, the top 10 exports of Panama encompass a variety of products that highlight the country's natural resources and industrial capabilities. The top 10 exports of Panama in 2023 according to Panama export data and Panama trade data are:

  • Ores, slag, and ash (HS code 26): 14.75% ($2.46 billion) 
  • Organic Chemicals (HS code 29): 14.68% ($2.45 billion) 
  • Pharmaceutical products (HS code 30): 12.82% ($2.14 billion) 
  • Electrical machinery and equipment (HS code 85): 9.58% ($1.60 billion) 
  • Nuclear reactors and machinery (HS code 84): 6.88% ($1.15 billion) 
  • Footwear (HS code 64): 5.56% ($930.12 million) 
  • Articles of apparel and clothing, not knitted (HS code 62): 4.97% ($831.65 million) 
  • Perfumery, cosmetics, and toilet preparations (HS code 33): 4.15% ($694.52 million) 
  • Articles of apparel and clothing, knitted (HS code 61): 3.35% ($561 million) 
  • Beverages, spirits, and vinegar (HS code 22): 3.33% ($557.76 million)
    • Partners

    Top 10 Export Partners of Panama | Panama Export Data by Country

    Demonstrating its strong international trade relations, Panama's top 10 export partners play a crucial role in facilitating Panama's economic growth, creating mutually beneficial relationships marked by trade agreements and investment opportunities. According to Panama export data, Panama’s top 10 export partners in 2023 include:

    Value In Percentage(%)

  • China: 8.4% (1.40 billion US$)
  • Costa Rica: 6.4% (1.06 billion US$)
  • Venezuela: 5.9% (990.55 million US$)
  • USA: 5.6% (945.05 million US$)
  • Colombia: 4.3% (725.68 million US$)
  • Guatemala: 4.3% (722.96 million US$)
  • Honduras: 4.1% (682.83 million US$)
  • Dominican Republic: 4% (664.52 million US$)
  • Spain: 3.4% (573.72 million US$)
  • El Salvador: 3.4% (561.17 million US$)
    • Sample Data

    What is Panama Customs Data for Exports?

    We obtain trustworthy data from organizations, shipping businesses, and customs ports. This Trade Data contains a wide range of fields, such as HS codes, product descriptions, prices, quantities, origin country, destination country, and port names together with currency values. For traders and marketers, this trade data is crucial information that helps them to make informed decisions. From the HS codes and product descriptions to the quantity and cost of each product, everything can be obtained through this trade data. We have included a sample of this trade data for your convenience and greater understanding so that you can see what the trade data looks like as a whole, with complete details.

    Panama customs data for exports refers to the information collected and recorded regarding the export activities taking place in the country. This data provides valuable insights into the types of products being exported, their destinations, and the key players involved in the export trade. By acquiring Panama export data, companies can gain a competitive advantage by identifying untapped markets, understanding consumer preferences, and adapting their products or services accordingly. According to Panama customs data, Panama exported goods worth a total of $15.7 billion in 2023. Several fields, including the total amount of the currency, the product description, the quantity, the price, and more, are found in Panama's export data and trade data. It contains all relevant information about HS codes, exporter names, destination countries, etc. For dealers, firms, and marketers, this customs data and export data is crucial information that helps them make informed decisions in their export business. So, as you can see, we obtain trustworthy data from organizations, shipping businesses, and customs ports. The trade data contains a wide range of fields, such as HS codes, product descriptions, prices, quantities, origin country, importers/exporters names and addresses, destination country, and port names together with currency values. For traders and marketers, this trade data is crucial information that helps them make informed decisions. From the HS codes and product descriptions to the quantity and cost of each product, everything can be obtained through this trade data. We have included a sample of the trade data for your convenience and greater understanding so that you can see what the trade data or customs data looks like as a whole, with complete details. 

    Panama Export Data
    ID 1 DATE 2022-07-05
    DECLARATION NUMBER 2022070541221 RUC (EXPORTER ID) 8-370-125
    EXPORTER GEMA DIAMANTOPULOS 2 DIGIT CODE 01
    4 DIGIT CODE 0101 HS CODE 010121000000
    PRODUCT DESCRIPTION FEMALES (4 YEARS, 19 YEARS, 10 YEARS) QUANTITY 3
    MEASURE UNIT UNIT NET WEIGHT 900
    GROSS WEIGHT 900 US FOB 3000
    UNLOADING PORT TOCUMEN CARGA TRANSPORT TYPE AIR
    DESTINATION COUNTRY PERU CUSTOMS ZONE Zona Aeroportuaria (TOCUMEN)
    Benefits

    Benefits of Panama Export Data

  • Generate high-quality export sales from Panama’s export market.
  • Determine the latest demand for products in Panama.
  • Monitor competitors and outperform them in rankings.
  • Build your marketing plan based on export data.
  • Create a major impact on Panama's export market.
  • Establish future goals and maximize your earnings.

    • Frequently Asked Questions!!

    According to Panama's export data and Panama trade statistics for 2023, Panama exported goods worth $15.7 billion, showing an increase of 8% as compared to the previous year.

    Based on Panama trade records, the top industries contributing to Panama's exports in 2023 are manufacturing, agriculture, and mining.

    According to Panama trade data and Panama trade activities, the top 3 export destinations for Panama in 2023 are China, Costa Rica, and Venezuela.

    Some challenges faced by Panama's exporters in 2023 include global economic uncertainty, changing trade policies, and competition from other countries.

    Some key strategies being implemented to boost Panama's exports in 2023 include diversifying export markets, promoting value-added products, and investing in infrastructure and technology.

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