US trade with Panama in the 2nd quarter of 2017

Published or Updated: Sep 27, 2017

The report on US foreign trade in goods with Panama in the 2nd quarter of 2017: exports, imports, balance, product types and groups, dynamics.

US Trade with Panama

In the 2nd quarter of 2017, US trade with Panama totaled $1.8 billion, up 1.18% ($0.0 billion) from the 2nd quarter of 2016.

US exports to Panama in the 2nd quarter of 2017 totaled $1.7 billion, up 0.73% ($0.0 billion) from the 2nd quarter of 2016.

US imports from Panama in the 2nd quarter of 2017 totaled $0.1 billion, up 7.67% ($0.0 billion) from the 2nd quarter of 2016.

US trade surplus with Panama in the 2nd quarter of 2017 was $1.5 billion, a 0.22% increase ($0.0 billion) over the 2nd quarter of 2016.

Panama was the US 54th largest trading partner in the 2nd quarter of 2017 (down from 51st in the 2nd quarter of 2016), accounting for 0.1803% of US total trade (down from 0.1900% in the 2nd quarter of 2016).

Panama was the US 36th largest export market in the 2nd quarter of 2017 (down from 34th in the 2nd quarter of 2016), accounting for 0.4308% of US total exports (down from 0.4525% in the 2nd quarter of 2016).

Panama was the US 89th largest supplier in the 2nd quarter of 2017 (up from 90th in the 2nd quarter of 2016), accounting for 0.0202% of US total imports (up from 0.0201% in the 2nd quarter of 2016).

US Exports to Panama

The major share of US exports to Panama in the 2nd quarter of 2017 (and in the 2nd quarter of 2016) was accounted for the following product types:

  • Mineral products (HS codes 25-27) - 37.87% of US total exports to Panama (32.34% in the 2nd quarter of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 24.32% of US total exports to Panama (30.81% in the 2nd quarter of 2016);
  • Food products and agricultural raw materials (HS codes 01-24) - 12.76% of US total exports to Panama (12.28% in the 2nd quarter of 2016);
  • Chemical products (HS codes 28-40) - 9.41% of US total exports to Panama (12.75% in the 2nd quarter of 2016);
  • Metals and products from them (HS codes 72-83) - 6.09% of US total exports to Panama (1.96% in the 2nd quarter of 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.31% of US total exports to Panama (1.37% in the 2nd quarter of 2016).

The largest gains in US exports to Panama in the 2nd quarter of 2017 over the 2nd quarter of 2016 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 $95.6 million;
  • Articles of iron or steel (HS code 73) - an increase of $77.9 million;
  • Ships, boats and floating structures (HS code 89) - an increase of $17.2 million;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $8.3 million;
  • Pharmaceutical products (HS code 30) - an increase of $5.4 million;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $5.3 million.

The largest declines in US exports to Panama in the 2nd quarter of 2017 over the 2nd quarter of 2016 were recorded for the following product groups:

  • Aircraft, spacecraft, and parts thereof (HS code 88) - a decrease of $121.2 million;
  • Organic chemicals (HS code 29) - a decrease of $50.6 million;
  • Rubber and articles thereof (HS code 40) - a decrease of $9.2 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 $7.2 million;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - a decrease of $6.1 million;
  • 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 (HS code 94) - a decrease of $5.7 million.
US exports to Panama in the 2nd quarter of 2017 by product groups
HS
code
Name of product group Value
of exports
in Q2 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in Q2 2016
(USD thousand)
Change
in Q2 2017
over Q2 2016
(%)
01 Live animals 1,782.2 0.11 1,641.08.61
02 Meat and edible meat offal 11,663.0 0.70 12,580.0-7.29
03 Fish and crustaceans, molluscs and other aquatic invertebrates 1,439.0 0.09 1,302.010.52
04 Dairy produce; birds eggs; natural honey; edible products of animal origin, not elsewhere specified or included 10,163.4 0.61 7,513.235.27
05 Products of animal origin, not elsewhere specified or included 705.9 0.04 499.041.46
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 135.2 0.01 225.6-40.07
07 Edible vegetables and certain roots and tubers 4,065.3 0.25 3,854.35.47
08 Edible fruit and nuts; peel of citrus fruit or melons 3,127.1 0.19 3,325.4-5.96
09 Coffee, tea, maté and spices 1,018.7 0.06 902.912.83
10 Cereals 28,935.0 1.75 25,932.611.58
11 Products of the milling industry; malt; starches; inulin; wheat gluten 532.1 0.03 817.5-34.91
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 2,627.1 0.16 4,662.9-43.66
13 Lac; gums, resins and other vegetable saps and extracts 218.6 0.01 217.40.52
14 Vegetable plaiting materials; vegetable products not elsewhere specified or included 37.8 0.00 9.8287.50
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 2,778.0 0.17 4,696.7-40.85
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 5,425.4 0.33 5,184.94.64
17 Sugars and sugar confectionery 1,979.7 0.12 1,795.310.27
18 Cocoa and cocoa preparations 6,123.7 0.37 5,309.515.34
19 Preparations of cereals, flour, starch or milk; bakers’ wares 9,076.6 0.55 9,892.1-8.24
20 Preparations of vegetables, fruit, nuts or other parts of plants 11,288.0 0.68 9,620.717.33
21 Miscellaneous edible preparations 17,252.1 1.04 15,352.712.37
22 Beverages, spirits and vinegar 67,037.9 4.05 64,207.74.41
23 Residues and waste from the food industries; prepared animal feed 20,908.5 1.26 20,278.63.11
24 Tobacco and manufactured tobacco substitutes 3,141.7 0.19 2,151.546.03
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 958.3 0.06 868.810.30
26 Ores, slag and ash 57.0 0.00 74.8-23.82
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 626,629.7 37.81 531,037.118.00
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 1,313.7 0.08 1,196.29.83
29 Organic chemicals 16,943.5 1.02 67,578.7-74.93
30 Pharmaceutical products 28,766.9 1.74 23,323.923.34
31 Fertilizers 3,556.8 0.21 263.11,251.69
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 10,103.3 0.61 9,574.85.52
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 40,066.1 2.42 43,756.1-8.43
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 7,034.5 0.42 6,346.010.85
35 Albuminoidal substances; modified starches; glues; enzymes 1,922.3 0.12 1,872.22.67
36 Explosives; pyrotechnic products; matches; pyrophoric alloys; certain combustible preparations 59.3 0.00 269.0-77.97
37 Photographic or cinematographic goods 1,742.8 0.11 2,056.4-15.25
38 Miscellaneous chemical products 11,681.8 0.70 10,861.87.55
39 Plastics and articles thereof 27,708.1 1.67 28,493.5-2.76
40 Rubber and articles thereof 5,058.2 0.31 14,239.5-64.48
41 Raw hides and skins (other than furskins) and leather 8.0 0.00 13.6-41.05
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 7,658.5 0.46 5,113.149.78
43 Furskins and artificial fur; manufactures thereof 1,227.5 0.07 2.942,638.58
44 Wood and articles of wood; wood charcoal 3,063.4 0.18 4,504.0-31.98
45 Cork and articles of cork 0.0 0.00 13.9-100.00
46 Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork 35.8 0.00 30.218.47
47 Pulp of wood or of other fibrous cellulosic material; waste and scrap of paper or paperboard 536.4 0.03 765.7-29.95
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 10,340.6 0.62 9,101.413.62
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 1,220.7 0.07 1,621.8-24.73
51 Wool, fine or coarse animal hair; horsehair yarn and woven fabric 114.4 0.01 8.71,211.34
52 Cotton 103.2 0.01 434.8-76.27
53 Other vegetable textile fibers; paper yarn and woven fabric of paper yarn 46.2 0.00 29.258.06
54 Man-made filaments 225.2 0.01 172.830.34
55 Man-made staple fibers 176.1 0.01 70.4150.21
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 754.6 0.05 638.218.25
57 Carpets and other textile floor coverings 598.7 0.04 1,435.3-58.29
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 83.5 0.01 147.1-43.22
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 743.4 0.04 634.917.08
60 Knitted or crocheted fabrics 62.6 0.00 78.7-20.53
61 Articles of apparel and clothing accessories, knitted or crocheted 5,443.7 0.33 2,970.183.28
62 Articles of apparel and clothing accessories, not knitted or crocheted 4,527.8 0.27 7,277.0-37.78
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 3,792.1 0.23 4,135.8-8.31
64 Footwear, gaiters and the like; parts of such articles 4,371.2 0.26 3,109.340.59
65 Headgear and parts thereof 371.7 0.02 438.8-15.29
66 Umbrellas, sun umbrellas, walking sticks, seatsticks, whips, riding-crops and parts thereof 92.4 0.01 72.527.39
67 Prepared feathers and down and articles made of feathers or of down; artificial flowers; articles of human hair 126.9 0.01 811.0-84.35
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 6,355.0 0.38 5,150.223.39
69 Ceramic products 692.5 0.04 733.5-5.59
70 Glass and glassware 2,140.3 0.13 2,185.1-2.05
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 7,554.8 0.46 11,757.8-35.75
72 Iron and steel 996.3 0.06 4,179.4-76.16
73 Articles of iron or steel 89,474.6 5.40 11,570.6673.29
74 Copper and articles thereof 401.5 0.02 1,263.1-68.22
75 Nickel and articles thereof 36.9 0.00 40.4-8.69
76 Aluminum and articles thereof 4,051.2 0.24 7,173.5-43.53
78 Lead and articles thereof 127.9 0.01 110.116.10
79 Zinc and articles thereof 50.2 0.00 126.2-60.23
80 Tin and articles thereof 35.3 0.00 16.0120.00
81 Other base metals; cermets; articles thereof 75.9 0.00 158.6-52.12
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 3,511.7 0.21 5,065.9-30.68
83 Miscellaneous articles of base metal 2,216.2 0.13 2,472.6-10.37
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 152,813.9 9.22 144,476.65.77
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 97,142.2 5.86 104,355.2-6.91
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 512.9 0.03 654.7-21.66
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 60,441.9 3.65 66,525.1-9.14
88 Aircraft, spacecraft, and parts thereof 31,682.1 1.91 152,837.4-79.27
89 Ships, boats and floating structures 24,872.0 1.50 7,634.7225.78
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 35,622.8 2.15 30,334.717.43
91 Clocks and watches and parts thereof 3,106.9 0.19 3,227.1-3.73
92 Musical instruments; parts and accessories of such articles 96.7 0.01 571.8-83.08
93 Arms and ammunition; parts and accessories thereof 356.6 0.02 620.8-42.55
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 9,373.9 0.57 15,073.5-37.81
95 Toys, games and sports requisites; parts and accessories thereof 12,023.7 0.73 11,238.46.99
96 Miscellaneous manufactured articles 4,839.6 0.29 5,286.1-8.45
97 Works of art, collectors’ pieces and antiques 232.3 0.01 134.273.11

US Imports from Panama

The major share of US imports from Panama in the 2nd quarter of 2017 (and in the 2nd quarter of 2016) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 37.31% of US total imports from Panama (40.52% in the 2nd quarter of 2016);
  • Precious metals and stones (HS code 71) - 8.63% of US total imports from Panama (7.36% in the 2nd quarter of 2016);
  • Metals and products from them (HS codes 72-83) - 3.85% of US total imports from Panama (2.30% in the 2nd quarter of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 3.73% of US total imports from Panama (5.78% in the 2nd quarter of 2016);
  • Chemical products (HS codes 28-40) - 2.83% of US total imports from Panama (3.96% in the 2nd quarter of 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.73% of US total imports from Panama (0.95% in the 2nd quarter of 2016);
  • Mineral products (HS codes 25-27) - 0.02% of US total imports from Panama (1.05% in the 2nd quarter of 2016).

The largest gains in US imports from Panama in the 2nd quarter of 2017 over the 2nd quarter of 2016 were recorded for the following product groups:

  • Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin (HS code 71) - an increase of $2.2 million;
  • Coffee, tea, maté and spices (HS code 09) - an increase of $1.9 million;
  • Copper and articles thereof (HS code 74) - an increase of $1.7 million;
  • Articles of apparel and clothing accessories, not knitted or crocheted (HS code 62) - an increase of $1.1 million;
  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $0.8 million;
  • Aluminum and articles thereof (HS code 76) - an increase of $0.7 million;
  • Preparations of vegetables, fruit, nuts or other parts of plants (HS code 20) - an increase of $0.4 million.

The largest declines in US imports from Panama in the 2nd quarter of 2017 over the 2nd quarter of 2016 were recorded for the following product groups:

  • Tobacco and manufactured tobacco substitutes (HS code 24) - a decrease of $1.7 million;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $1.5 million;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $1.2 million;
  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - a decrease of $0.6 million;
  • Beverages, spirits and vinegar (HS code 22) - a decrease of $0.6 million;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $0.6 million;
  • Rubber and articles thereof (HS code 40) - a decrease of $0.5 million;
  • Residues and waste from the food industries; prepared animal feed (HS code 23) - a decrease of $0.4 million.
US imports from Panama in the 2nd quarter of 2017 by product groups
HS
code
Name of product group Value
of imports
in Q2 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in Q2 2016
(USD thousand)
Change
in Q2 2017
over Q2 2016
(%)
01 Live animals 0.0 0.00 11.7-100.00
03 Fish and crustaceans, molluscs and other aquatic invertebrates 22,072.6 18.14 21,305.53.60
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 3.1 0.00 9.4-67.17
07 Edible vegetables and certain roots and tubers 133.3 0.11 358.9-62.84
08 Edible fruit and nuts; peel of citrus fruit or melons 1,526.8 1.26 1,739.5-12.23
09 Coffee, tea, maté and spices 3,840.1 3.16 1,972.194.72
11 Products of the milling industry; malt; starches; inulin; wheat gluten 9.6 0.01 0.0
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 150.8 0.12 97.754.45
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 1,282.6 1.05 1,914.3-33.00
17 Sugars and sugar confectionery 14,466.8 11.89 14,230.11.66
19 Preparations of cereals, flour, starch or milk; bakers’ wares 0.0 0.00 24.3-100.00
20 Preparations of vegetables, fruit, nuts or other parts of plants 398.3 0.33 0.0
21 Miscellaneous edible preparations 88.4 0.07 42.5108.10
22 Beverages, spirits and vinegar 528.0 0.43 1,149.7-54.07
23 Residues and waste from the food industries; prepared animal feed 883.2 0.73 1,255.4-29.65
24 Tobacco and manufactured tobacco substitutes 0.0 0.00 1,676.3-100.00
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 0.0 0.00 2.6-100.00
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 23.2 0.02 1,188.9-98.05
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 0.0 0.00 73.1-100.00
29 Organic chemicals 17.6 0.01 36.0-51.25
30 Pharmaceutical products 12.2 0.01 0.0
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 8.5 0.01 101.8-91.67
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 1,149.9 0.95 1,307.6-12.06
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 0.0 0.00 36.8-100.00
38 Miscellaneous chemical products 104.3 0.09 25.4310.32
39 Plastics and articles thereof 2,128.6 1.75 2,415.5-11.88
40 Rubber and articles thereof 22.3 0.02 480.9-95.37
41 Raw hides and skins (other than furskins) and leather 3.1 0.00 0.0
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 5.2 0.00 33.7-84.54
44 Wood and articles of wood; wood charcoal 2.6 0.00 61.7-95.82
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 72.1 0.06 49.146.68
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 37.5 0.03 340.6-89.00
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 0.4 0.00 0.0
57 Carpets and other textile floor coverings 0.0 0.00 3.2-100.00
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 4.7 0.00 0.0
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 869.6 0.71 802.58.37
60 Knitted or crocheted fabrics 0.6 0.00 0.0
61 Articles of apparel and clothing accessories, knitted or crocheted 49.7 0.04 120.6-58.83
62 Articles of apparel and clothing accessories, not knitted or crocheted 1,162.7 0.96 111.9938.76
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 7.9 0.01 26.4-70.01
64 Footwear, gaiters and the like; parts of such articles 2.7 0.00 2.412.05
65 Headgear and parts thereof 4.2 0.00 5.5-23.86
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 0.0 0.00 2.9-100.00
69 Ceramic products 52.1 0.04 45.015.73
70 Glass and glassware 70.3 0.06 238.4-70.51
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 10,502.4 8.63 8,320.326.23
72 Iron and steel 62.0 0.05 179.9-65.57
73 Articles of iron or steel 135.6 0.11 133.91.25
74 Copper and articles thereof 1,962.8 1.61 290.1576.64
76 Aluminum and articles thereof 2,486.5 2.04 1,743.442.62
78 Lead and articles thereof 13.7 0.01 0.0
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 17.8 0.01 198.1-91.03
83 Miscellaneous articles of base metal 2.5 0.00 52.7-95.17
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 1,130.0 0.93 2,611.8-56.73
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 3,006.3 2.47 3,017.6-0.38
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 19.4 0.02 0.0
89 Ships, boats and floating structures 66.1 0.05 20.8217.63
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 314.7 0.26 881.2-64.29
91 Clocks and watches and parts thereof 13.2 0.01 85.2-84.50
92 Musical instruments; parts and accessories of such articles 0.0 0.00 5.5-100.00
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 11.1 0.01 300.2-96.30
95 Toys, games and sports requisites; parts and accessories thereof 2.3 0.00 4.8-51.56
96 Miscellaneous manufactured articles 55.3 0.05 115.1-51.97
97 Works of art, collectors’ pieces and antiques 298.3 0.25 188.058.70
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce