[1] Primary trade source
OECD Bilateral International Merchandise Trade Statistics, harmonised by Yugalinks at country-year, HS2 and bilateral-corridor levels. Coverage shown here is 1995–2024 where observations are available.
Country intelligence · PAN · 2024
Panama trade profile
In 2024, Panama recorded $4.8B in merchandise exports and $56.2B in imports, producing a $51.4B trade deficit. Exports changed -26.0% from the previous year, while imports changed +8.8%.[1]
Exports
$4.8B
-26.0%
Imports
$56.2B
+8.8%
Trade balance
-$51.4B
deficit
Active partners
270
44 FTA-linked
Historical evidence
Ten-year trade movement
The bars compare exports and imports on the same scale. The accompanying table preserves the exact values so the trend is usable without interpreting a graphic.
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
ExportsImports
Exact annual values
Leading export sectors
HS2 chapters rank broad product groups by observed export value in 2024.
1$744.0M
HS 89 · HS chapter
17 active HS6 lines · 38 export partners
2$308.8M
HS 85 · Electrical machinery
262 active HS6 lines · 104 export partners
3$308.4M
HS 27 · Mineral fuels and oils
40 active HS6 lines · 58 export partners
4$268.8M
HS 03 · HS chapter
193 active HS6 lines · 55 export partners
5$264.2M
HS 08 · HS chapter
66 active HS6 lines · 57 export partners
6$245.2M
HS 84 · Machinery
515 active HS6 lines · 113 export partners
7$244.1M
HS 30 · Pharmaceutical products
41 active HS6 lines · 54 export partners
8$213.6M
HS 99 · HS chapter
1 active HS6 lines · 4 export partners
Leading export markets
Destinations rank bilateral export flows from Panama; growth describes each corridor rather than the whole economy.
1$757.4M
Panama
Annual change +346.4% · 3-year CAGR 59.0%
2$548.4M
United States
Annual change +5.8% · 3-year CAGR -9.3%
3$372.7M
Costa Rica
Annual change +29.6% · 3-year CAGR 22.9%
4$199.3M
Denmark
Annual change -7.0% · 3-year CAGR 138.9%
5$170.4M
Japan
Annual change -74.6% · 3-year CAGR -38.9%
6$158.7M
Netherlands
Annual change +102.2% · 3-year CAGR 7.9%
7$145.8M
Dominican Republic
Annual change +3.6% · 3-year CAGR 24.9%
8$137.3M
Türkiye
Annual change +688.1% · 3-year CAGR 103.8%
Sources, definitions and limitations
Calculation notes
USD values are aggregated from reported merchandise records. YoY compares consecutive annual totals; three-year CAGR is the mart-provided compound annual growth rate. Missing values are not inferred.