US trade (export - import) with Panama in 2018

Published or Updated: May 19, 2019

The report on US foreign trade in goods with Panama in 2018: exports, imports, balance, product types and groups, dynamics.

US Trade with Panama

In 2018, US trade with Panama totaled $7.3 billion, up 5.62% ($0.4 billion) from 2017.

US exports to Panama in 2018 totaled $6.8 billion, up 5.47% ($0.4 billion) from 2017.

US imports from Panama in 2018 totaled $0.5 billion, up 7.75% ($0.0 billion) from 2017.

US trade surplus with Panama in 2018 was $6.3 billion, a 5.30% increase ($0.3 billion) over 2017.

Panama was the US 54th largest trading partner in 2018 (up from 55th in 2017), accounting for 0.1703% of US total trade (down from 0.1746% in 2017).

Panama was the US 35th largest export market in 2018 (up from 37th in 2017), accounting for 0.4084% of US total exports (down from 0.4169% in 2017).

Panama was the US 93rd largest supplier in 2018 (just as in 2017), accounting for 0.0189% of US total imports (down from 0.0190% in 2017).

US Exports to Panama

The major share of US exports to Panama in 2018 (and in 2017) was accounted for the following product types:

  • Mineral products (HS codes 25-27) - 38.17% of US total exports to Panama (40.01% in 2017);
  • Machinery, equipment and vehicles (HS codes 84-90) - 27.39% of US total exports to Panama (24.27% in 2017);
  • Food products and agricultural raw materials (HS codes 01-24) - 13.99% of US total exports to Panama (14.17% in 2017);
  • Chemical products (HS codes 28-40) - 8.34% of US total exports to Panama (8.72% in 2017);
  • Metals and products from them (HS codes 72-83) - 2.16% of US total exports to Panama (2.70% in 2017);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.22% of US total exports to Panama (1.33% in 2017).

The largest gains in US exports to Panama in 2018 over 2017 were recorded for the following product groups:

  • Aircraft, spacecraft, and parts thereof (HS code 88) - an increase of $226.9 million;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $83.6 million;
  • Pharmaceutical products (HS code 30) - an increase of $40.3 million;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - an increase of $39.2 million;
  • Commodities not specified according to kind (HS code 99) - an increase of $22.5 million.

The largest declines in US exports to Panama in 2018 over 2017 were recorded for the following product groups:

  • Articles of iron or steel (HS code 73) - a decrease of $36.2 million;
  • Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles (HS code 85) - a decrease of $34.5 million;
  • Organic chemicals (HS code 29) - a decrease of $26.6 million.
US exports to Panama in 2018 by product groups
HS
code
Name of product group Value
of exports
in 2018
(USD thousand)
Share
in total export
(%)
Value
of exports
in 2017
(USD thousand)
Change
in 2018
over 2017
(%)
01 Live animals 8,502.9 0.13 7,462.813.94
02 Meat and edible meat offal 69,819.1 1.03 60,280.815.82
03 Fish and crustaceans, molluscs and other aquatic invertebrates 4,977.8 0.07 5,683.2-12.41
04 Dairy produce; birds eggs; natural honey; edible products of animal origin, not elsewhere specified or included 43,309.1 0.64 39,043.810.92
05 Products of animal origin, not elsewhere specified or included 1,152.7 0.02 2,670.0-56.83
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 796.3 0.01 754.35.56
07 Edible vegetables and certain roots and tubers 18,149.7 0.27 15,577.916.51
08 Edible fruit and nuts; peel of citrus fruit or melons 19,523.8 0.29 19,607.3-0.43
09 Coffee, tea, maté and spices 3,842.4 0.06 3,012.427.55
10 Cereals 134,001.0 1.97 127,993.54.69
11 Products of the milling industry; malt; starches; inulin; wheat gluten 3,009.4 0.04 2,854.95.41
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 30,123.7 0.44 15,323.696.58
13 Lac; gums, resins and other vegetable saps and extracts 1,262.9 0.02 1,324.3-4.64
14 Vegetable plaiting materials; vegetable products not elsewhere specified or included 0.0 0.00 53.6-100.00
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 16,567.1 0.24 14,520.114.10
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 22,244.5 0.33 23,348.5-4.73
17 Sugars and sugar confectionery 6,484.1 0.10 6,708.0-3.34
18 Cocoa and cocoa preparations 22,140.8 0.33 24,969.5-11.33
19 Preparations of cereals, flour, starch or milk; bakers’ wares 39,764.7 0.58 37,103.77.17
20 Preparations of vegetables, fruit, nuts or other parts of plants 48,296.9 0.71 46,902.32.97
21 Miscellaneous edible preparations 69,370.2 1.02 68,172.71.76
22 Beverages, spirits and vinegar 293,926.0 4.32 282,108.84.19
23 Residues and waste from the food industries; prepared animal feed 87,322.0 1.28 95,963.0-9.00
24 Tobacco and manufactured tobacco substitutes 6,755.4 0.10 11,757.9-42.55
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 3,488.7 0.05 4,221.9-17.37
26 Ores, slag and ash 314.8 0.00 370.0-14.91
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 2,591,051.2 38.12 2,574,131.60.66
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 3,916.1 0.06 5,697.5-31.27
29 Organic chemicals 16,442.2 0.24 43,028.8-61.79
30 Pharmaceutical products 130,450.5 1.92 90,147.844.71
31 Fertilizers 1,577.3 0.02 5,530.6-71.48
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 37,571.5 0.55 37,004.31.53
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 156,974.2 2.31 155,337.01.05
34 Soap, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations, candles and similar articles, modeling pastes, "dental waxes" and dental preparations with a basis of plaster 26,428.0 0.39 26,767.3-1.27
35 Albuminoidal substances; modified starches; glues; enzymes 6,511.7 0.10 6,426.51.33
36 Explosives; pyrotechnic products; matches; pyrophoric alloys; certain combustible preparations 906.7 0.01 1,819.6-50.17
37 Photographic or cinematographic goods 3,882.5 0.06 4,511.3-13.94
38 Miscellaneous chemical products 41,904.5 0.62 40,667.03.04
39 Plastics and articles thereof 110,375.9 1.62 119,142.8-7.36
40 Rubber and articles thereof 30,130.5 0.44 26,071.115.57
41 Raw hides and skins (other than furskins) and leather 41.6 0.00 231.1-82.02
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 28,565.7 0.42 31,722.4-9.95
43 Furskins and artificial fur; manufactures thereof 3,336.3 0.05 5,476.9-39.08
44 Wood and articles of wood; wood charcoal 10,848.3 0.16 11,668.0-7.03
45 Cork and articles of cork 135.5 0.00 28.9368.72
46 Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork 107.0 0.00 105.81.10
47 Pulp of wood or of other fibrous cellulosic material; waste and scrap of paper or paperboard 903.2 0.01 1,288.3-29.89
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 40,741.8 0.60 39,280.43.72
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 5,971.5 0.09 8,663.0-31.07
50 Silk 13.6 0.00 62.0-78.03
51 Wool, fine or coarse animal hair; horsehair yarn and woven fabric 998.9 0.01 652.853.03
52 Cotton 262.6 0.00 286.7-8.40
53 Other vegetable textile fibers; paper yarn and woven fabric of paper yarn 175.4 0.00 229.6-23.60
54 Man-made filaments 1,222.3 0.02 1,331.5-8.20
55 Man-made staple fibers 99.2 0.00 447.3-77.82
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 4,198.3 0.06 3,350.325.31
57 Carpets and other textile floor coverings 2,298.7 0.03 2,402.3-4.31
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 312.6 0.00 313.1-0.18
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 2,660.4 0.04 3,071.3-13.38
60 Knitted or crocheted fabrics 436.6 0.01 299.345.88
61 Articles of apparel and clothing accessories, knitted or crocheted 15,362.9 0.23 17,041.3-9.85
62 Articles of apparel and clothing accessories, not knitted or crocheted 23,023.7 0.34 20,960.59.84
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 14,433.1 0.21 15,886.5-9.15
64 Footwear, gaiters and the like; parts of such articles 15,215.6 0.22 15,988.5-4.83
65 Headgear and parts thereof 1,074.3 0.02 2,209.0-51.37
66 Umbrellas, sun umbrellas, walking sticks, seatsticks, whips, riding-crops and parts thereof 107.9 0.00 201.6-46.47
67 Prepared feathers and down and articles made of feathers or of down; artificial flowers; articles of human hair 914.2 0.01 738.123.86
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 15,069.6 0.22 23,410.0-35.63
69 Ceramic products 3,103.6 0.05 3,225.9-3.79
70 Glass and glassware 6,402.0 0.09 6,236.62.65
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 43,559.0 0.64 36,790.218.40
72 Iron and steel 3,842.3 0.06 4,157.3-7.58
73 Articles of iron or steel 83,400.0 1.23 119,607.3-30.27
74 Copper and articles thereof 10,598.3 0.16 1,753.7504.34
75 Nickel and articles thereof 422.1 0.01 117.0260.85
76 Aluminum and articles thereof 22,786.6 0.34 22,543.61.08
78 Lead and articles thereof 94.0 0.00 233.9-59.81
79 Zinc and articles thereof 812.8 0.01 389.7108.56
80 Tin and articles thereof 208.4 0.00 174.519.46
81 Other base metals; cermets; articles thereof 422.9 0.01 615.1-31.24
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 15,469.7 0.23 16,106.6-3.95
83 Miscellaneous articles of base metal 8,974.0 0.13 8,637.33.90
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 640,801.6 9.43 557,197.315.00
85 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 357,669.0 5.26 392,125.5-8.79
86 Railway or tramway locomotives, rolling-stock and parts thereof; railway or tramway track fixtures and fittings and parts thereof; mechanical (including electro-mechanical) traffic signalling equipment of all kinds 5,337.9 0.08 2,176.1145.29
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 304,258.1 4.48 265,021.714.80
88 Aircraft, spacecraft, and parts thereof 401,458.3 5.91 174,601.0129.93
89 Ships, boats and floating structures 13,579.1 0.20 32,128.2-57.73
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 138,942.0 2.04 140,748.8-1.28
91 Clocks and watches and parts thereof 9,441.7 0.14 11,656.2-19.00
92 Musical instruments; parts and accessories of such articles 931.0 0.01 779.819.39
93 Arms and ammunition; parts and accessories thereof 1,174.3 0.02 1,495.0-21.45
94 Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated sign illuminated nameplates and the like; prefabricated buildings 51,080.0 0.75 45,161.413.11
95 Toys, games and sports requisites; parts and accessories thereof 58,204.9 0.86 57,951.10.44
96 Miscellaneous manufactured articles 22,717.2 0.33 19,434.416.89
97 Works of art, collectors’ pieces and antiques 6,291.0 0.09 1,058.9494.13
99 Commodities not specified according to kind 284,069.7 4.18 261,597.78.59

US Imports from Panama

The major share of US imports from Panama in 2018 (and in 2017) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 30.95% of US total imports from Panama (32.62% in 2017);
  • Mineral products (HS codes 25-27) - 11.18% of US total imports from Panama (0.01% in 2017);
  • Precious metals and stones (HS code 71) - 6.83% of US total imports from Panama (7.36% in 2017);
  • Machinery, equipment and vehicles (HS codes 84-90) - 6.37% of US total imports from Panama (6.72% in 2017);
  • Metals and products from them (HS codes 72-83) - 3.95% of US total imports from Panama (4.47% in 2017);
  • Chemical products (HS codes 28-40) - 2.55% of US total imports from Panama (2.91% in 2017);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.44% of US total imports from Panama (1.32% in 2017).

The largest gains in US imports from Panama in 2018 over 2017 were recorded for the following product groups:

  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $55.1 million;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $7.0 million;
  • Sugars and sugar confectionery (HS code 17) - an increase of $5.8 million;
  • Works of art, collectors’ pieces and antiques (HS code 97) - an increase of $4.0 million;
  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $2.6 million;
  • Pharmaceutical products (HS code 30) - an increase of $1.9 million.

The largest declines in US imports from Panama in 2018 over the 2017 were recorded for the following product groups:

  • Commodities not specified according to kind (HS code 99) - a decrease of $28.3 million;
  • Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles (HS code 85) - a decrease of $6.4 million;
  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - a decrease of $2.6 million;
  • Articles of apparel and clothing accessories, not knitted or crocheted (HS code 62) - a decrease of $2.0 million;
  • Plastics and articles thereof (HS code 39) - a decrease of $1.9 million;
  • Lead and articles thereof (HS code 78) - a decrease of $1.6 million;
  • Residues and waste from the food industries; prepared animal feed (HS code 23) - a decrease of $1.5 million.
US imports from Panama in 2018 by product groups
HS
code
Name of product group Value
of imports
in 2018
(USD thousand)
Share
in total import
(%)
Value
of imports
in 2017
USD thousand)
Change
in 2018
over 2017
(%)
01 Live animals 61.6 0.01 61.20.77
03 Fish and crustaceans, molluscs and other aquatic invertebrates 98,426.0 19.95 95,779.52.76
05 Products of animal origin, not elsewhere specified or included 60.1 0.01 31.590.88
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 3.1 0.00 14.8-79.15
07 Edible vegetables and certain roots and tubers 990.5 0.20 798.624.03
08 Edible fruit and nuts; peel of citrus fruit or melons 6,140.7 1.24 4,995.422.93
09 Coffee, tea, maté and spices 5,007.8 1.01 6,475.2-22.66
11 Products of the milling industry; malt; starches; inulin; wheat gluten 137.7 0.03 81.469.12
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 24.3 0.00 234.0-89.60
13 Lac; gums, resins and other vegetable saps and extracts 0.0 0.00 5.2-100.00
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 3,538.9 0.72 6,115.5-42.13
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 164.5 0.03 0.0
17 Sugars and sugar confectionery 30,699.0 6.22 24,918.823.20
19 Preparations of cereals, flour, starch or milk; bakers’ wares 34.0 0.01 18.583.61
20 Preparations of vegetables, fruit, nuts or other parts of plants 567.8 0.12 1,112.4-48.96
21 Miscellaneous edible preparations 315.9 0.06 673.8-53.12
22 Beverages, spirits and vinegar 3,323.3 0.67 2,992.811.04
23 Residues and waste from the food industries; prepared animal feed 3,193.2 0.65 4,721.7-32.37
24 Tobacco and manufactured tobacco substitutes 36.7 0.01 316.3-88.41
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 33.1 0.01 11.2194.21
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 55,114.6 11.17 49.0112,475.22
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 42.0 0.01 0.0
29 Organic chemicals 235.0 0.05 119.197.40
30 Pharmaceutical products 2,236.5 0.45 328.3581.31
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 192.7 0.04 51.8271.71
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 3,102.0 0.63 3,769.1-17.70
34 Soap, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations, candles and similar articles, modeling pastes, "dental waxes" and dental preparations with a basis of plaster 96.6 0.02 130.6-26.06
38 Miscellaneous chemical products 39.7 0.01 466.8-91.50
39 Plastics and articles thereof 6,325.8 1.28 8,257.0-23.39
40 Rubber and articles thereof 299.3 0.06 198.350.88
41 Raw hides and skins (other than furskins) and leather 0.0 0.00 11.6-100.00
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 536.3 0.11 123.9332.92
44 Wood and articles of wood; wood charcoal 628.4 0.13 433.644.92
45 Cork and articles of cork 4.8 0.00 0.0
46 Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork 0.0 0.00 10.4-100.00
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 365.2 0.07 255.243.07
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 223.3 0.05 123.980.22
52 Cotton 0.0 0.00 1.1-100.00
55 Man-made staple fibers 0.9 0.00 0.0
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 14.9 0.00 5.3180.60
57 Carpets and other textile floor coverings 48.3 0.01 0.0
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 0.0 0.00 4.7-100.00
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 4,456.7 0.90 3,191.139.66
60 Knitted or crocheted fabrics 0.0 0.00 0.6-100.00
61 Articles of apparel and clothing accessories, knitted or crocheted 985.1 0.20 258.9280.51
62 Articles of apparel and clothing accessories, not knitted or crocheted 423.4 0.09 2,397.0-82.34
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 146.2 0.03 22.7543.02
64 Footwear, gaiters and the like; parts of such articles 1,020.5 0.21 156.8550.71
65 Headgear and parts thereof 9.4 0.00 15.1-38.03
69 Ceramic products 304.5 0.06 217.340.13
70 Glass and glassware 961.1 0.19 674.242.57
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 33,699.4 6.83 33,715.7-0.05
72 Iron and steel 1,188.1 0.24 248.3378.43
73 Articles of iron or steel 843.9 0.17 361.5133.42
74 Copper and articles thereof 8,634.2 1.75 9,732.1-11.28
75 Nickel and articles thereof 0.0 0.00 44.1-100.00
76 Aluminum and articles thereof 7,438.3 1.51 7,546.4-1.43
78 Lead and articles thereof 805.9 0.16 2,401.9-66.45
79 Zinc and articles thereof 550.1 0.11 0.0
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 24.0 0.00 116.8-79.40
83 Miscellaneous articles of base metal 24.7 0.01 33.5-26.33
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 14,664.3 2.97 7,618.792.48
85 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 13,186.8 2.67 19,627.6-32.82
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 266.8 0.05 524.8-49.17
88 Aircraft, spacecraft, and parts thereof 523.2 0.11 14.33,565.32
89 Ships, boats and floating structures 130.4 0.03 146.4-10.92
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 2,648.8 0.54 2,816.4-5.95
91 Clocks and watches and parts thereof 275.1 0.06 28.5866.16
92 Musical instruments; parts and accessories of such articles 24.8 0.01 0.0
94 Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, -82.ttdd 02 not elsewhere specified or included; illuminated sign illuminated nameplates and the like; prefabricated buildings 204.3 0.04 230.5-11.38
95 Toys, games and sports requisites; parts and accessories thereof 218.3 0.04 41.3428.36
96 Miscellaneous manufactured articles 249.4 0.05 448.3-44.37
97 Works of art, collectors’ pieces and antiques 5,008.5 1.02 1,049.2377.37
99 Commodities not specified according to kind 172,220.0 34.90 200,518.0-14.11
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce