US trade with Panama in the first half of 2017

Published or Updated: Oct 24, 2017

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

US Trade with Panama

In the first half of 2017, US trade with Panama was $3.4 billion, down 0.69% ($0.0 billion) from the first half of 2016.

US exports to Panama in the first half of 2017 were $3.2 billion, down 1.20% ($0.0 billion) from the first half of 2016.

US imports from Panama in the first half of 2017 totaled $0.2 billion, up 7.30% ($0.0 billion) from the first half of 2016.

US trade surplus with Panama in the first half of 2017 was $3.0 billion, a 1.77% decrease ($0.1 billion) over the first half of 2016.

Panama was the US 53rd largest trading partner in the first half of 2017 (down from 51st in the first half of 2016), accounting for 0.1781% of US total trade (down from 0.1917% in the first half of 2016).

Panama was the US 37th largest export market in the first half of 2017 (down from 35th in the first half of 2016), accounting for 0.4237% of US total exports (down from 0.4566% in the first half of 2016).

Panama was the US 92nd largest supplier in the first half of 2017 (down from 91st in the first half of 2016), accounting for 0.0188% of US total imports (just as in the first half of 2016).

US Exports to Panama

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

  • Mineral products (HS codes 25-27) - 38.90% of US total exports to Panama (36.74% in the first half of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 24.63% of US total exports to Panama (26.60% in the first half of 2016);
  • Food products and agricultural raw materials (HS codes 01-24) - 13.75% of US total exports to Panama (12.60% in the first half of 2016);
  • Chemical products (HS codes 28-40) - 9.18% of US total exports to Panama (11.17% in the first half of 2016);
  • Metals and products from them (HS codes 72-83) - 3.86% of US total exports to Panama (2.92% in the first half of 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.36% of US total exports to Panama (1.37% in the first half of 2016);
  • Wood and wood products (HS codes 44-49) - 0.95% of US total exports to Panama (1.05% in the first half of 2016).

The largest gains in US exports to Panama in the first half of 2017 over the first half 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 $54.3 million;
  • Articles of iron or steel (HS code 73) - an increase of $46.6 million;
  • Ships, boats and floating structures (HS code 89) - an increase of $14.9 million;
  • Beverages, spirits and vinegar (HS code 22) - an increase of $13.2 million;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $10.1 million.

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

  • Aircraft, spacecraft, and parts thereof (HS code 88) - a decrease of $76.5 million;
  • Organic chemicals (HS code 29) - a decrease of $63.7 million;
  • Rubber and articles thereof (HS code 40) - a decrease of $15.1 million;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $12.6 million;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - a decrease of $12.5 million.
US exports to Panama in the first half of 2017 by product groups
HS
code
Name of product group Value
of exports
in first-half 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in first-half 2016
(USD thousand)
Change
in first-half 2017
over first-half 2016
(%)
01 Live animals 3,367.2 0.10 3,103.88.48
02 Meat and edible meat offal 21,365.9 0.67 24,780.6-13.78
03 Fish and crustaceans, molluscs and other aquatic invertebrates 3,460.1 0.11 2,966.116.65
04 Dairy produce; birds eggs; natural honey; edible products of animal origin, not elsewhere specified or included 19,221.8 0.60 14,642.531.27
05 Products of animal origin, not elsewhere specified or included 1,024.1 0.03 999.12.51
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 314.3 0.01 315.7-0.43
07 Edible vegetables and certain roots and tubers 9,062.5 0.28 6,848.332.33
08 Edible fruit and nuts; peel of citrus fruit or melons 6,082.6 0.19 6,558.6-7.26
09 Coffee, tea, maté and spices 1,879.3 0.06 2,807.5-33.06
10 Cereals 64,010.0 2.00 55,236.615.88
11 Products of the milling industry; malt; starches; inulin; wheat gluten 1,052.6 0.03 1,231.4-14.52
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 5,728.3 0.18 9,779.9-41.43
13 Lac; gums, resins and other vegetable saps and extracts 490.5 0.02 406.020.82
14 Vegetable plaiting materials; vegetable products not elsewhere specified or included 53.6 0.00 21.8145.76
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 8,365.0 0.26 7,705.78.55
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 11,159.7 0.35 10,064.510.88
17 Sugars and sugar confectionery 4,036.9 0.13 4,407.0-8.40
18 Cocoa and cocoa preparations 13,706.2 0.43 12,209.412.26
19 Preparations of cereals, flour, starch or milk; bakers’ wares 18,253.1 0.57 20,137.4-9.36
20 Preparations of vegetables, fruit, nuts or other parts of plants 21,924.5 0.68 19,422.512.88
21 Miscellaneous edible preparations 34,265.3 1.07 32,866.04.26
22 Beverages, spirits and vinegar 137,839.7 4.30 124,631.710.60
23 Residues and waste from the food industries; prepared animal feed 46,983.7 1.46 44,042.66.68
24 Tobacco and manufactured tobacco substitutes 7,366.8 0.23 3,903.188.74
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 1,973.6 0.06 1,759.312.18
26 Ores, slag and ash 305.0 0.01 106.1187.44
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 1,245,580.8 38.83 1,191,231.84.56
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 3,021.4 0.09 3,455.5-12.56
29 Organic chemicals 21,390.6 0.67 85,068.3-74.85
30 Pharmaceutical products 52,866.6 1.65 45,773.015.50
31 Fertilizers 4,989.1 0.16 906.9450.12
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 18,732.7 0.58 18,287.42.44
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 79,340.9 2.47 84,947.3-6.60
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 14,251.1 0.44 11,658.022.24
35 Albuminoidal substances; modified starches; glues; enzymes 3,645.9 0.11 3,322.29.74
36 Explosives; pyrotechnic products; matches; pyrophoric alloys; certain combustible preparations 419.2 0.01 599.1-30.04
37 Photographic or cinematographic goods 2,512.7 0.08 2,781.8-9.67
38 Miscellaneous chemical products 21,011.6 0.65 19,277.29.00
39 Plastics and articles thereof 60,832.5 1.90 60,074.91.26
40 Rubber and articles thereof 11,356.9 0.35 26,505.5-57.15
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) 15,094.0 0.47 13,165.814.65
43 Furskins and artificial fur; manufactures thereof 1,263.7 0.04 2.943,899.34
44 Wood and articles of wood; wood charcoal 5,583.4 0.17 8,210.6-32.00
45 Cork and articles of cork 2.6 0.00 19.4-86.79
46 Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork 61.7 0.00 48.527.02
47 Pulp of wood or of other fibrous cellulosic material; waste and scrap of paper or paperboard 871.7 0.03 1,310.3-33.47
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 19,993.3 0.62 19,475.92.66
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 4,123.4 0.13 5,040.8-18.20
50 Silk 18.8 0.00 4.0369.14
51 Wool, fine or coarse animal hair; horsehair yarn and woven fabric 228.5 0.01 59.9281.37
52 Cotton 146.3 0.00 635.6-76.99
53 Other vegetable textile fibers; paper yarn and woven fabric of paper yarn 119.3 0.00 34.2248.64
54 Man-made filaments 540.5 0.02 931.6-41.98
55 Man-made staple fibers 213.2 0.01 635.5-66.45
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 1,617.8 0.05 1,566.73.26
57 Carpets and other textile floor coverings 1,214.2 0.04 2,106.6-42.36
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 214.8 0.01 319.3-32.71
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 1,527.2 0.05 1,503.51.58
60 Knitted or crocheted fabrics 134.1 0.00 204.6-34.46
61 Articles of apparel and clothing accessories, knitted or crocheted 9,702.0 0.30 7,197.634.80
62 Articles of apparel and clothing accessories, not knitted or crocheted 9,969.1 0.31 12,372.7-19.43
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 7,182.5 0.22 7,483.4-4.02
64 Footwear, gaiters and the like; parts of such articles 9,302.5 0.29 7,008.232.74
65 Headgear and parts thereof 1,049.5 0.03 906.015.84
66 Umbrellas, sun umbrellas, walking sticks, seatsticks, whips, riding-crops and parts thereof 138.9 0.00 136.91.43
67 Prepared feathers and down and articles made of feathers or of down; artificial flowers; articles of human hair 360.6 0.01 1,237.7-70.87
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 11,547.7 0.36 9,015.928.08
69 Ceramic products 1,730.3 0.05 1,643.35.29
70 Glass and glassware 3,616.9 0.11 4,183.3-13.54
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 16,242.2 0.51 23,726.3-31.54
72 Iron and steel 2,164.0 0.07 5,477.3-60.49
73 Articles of iron or steel 98,584.6 3.07 51,981.989.65
74 Copper and articles thereof 1,018.5 0.03 2,040.5-50.08
75 Nickel and articles thereof 72.0 0.00 52.836.47
76 Aluminum and articles thereof 10,132.8 0.32 15,306.5-33.80
78 Lead and articles thereof 195.3 0.01 169.115.49
79 Zinc and articles thereof 186.4 0.01 160.016.54
80 Tin and articles thereof 141.4 0.00 21.7550.28
81 Other base metals; cermets; articles thereof 158.4 0.00 4,600.0-96.56
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 6,560.4 0.20 9,933.0-33.95
83 Miscellaneous articles of base metal 4,512.5 0.14 5,220.2-13.56
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 271,438.4 8.46 284,039.4-4.44
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 199,964.6 6.23 196,692.21.66
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 785.4 0.02 1,142.9-31.28
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 119,299.0 3.72 131,761.3-9.46
88 Aircraft, spacecraft, and parts thereof 98,461.9 3.07 174,929.8-43.71
89 Ships, boats and floating structures 26,132.0 0.81 11,207.2133.17
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 74,013.3 2.31 63,936.815.76
91 Clocks and watches and parts thereof 6,163.2 0.19 6,397.5-3.66
92 Musical instruments; parts and accessories of such articles 208.4 0.01 660.3-68.44
93 Arms and ammunition; parts and accessories thereof 759.8 0.02 1,044.6-27.26
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 21,592.2 0.67 24,430.1-11.62
95 Toys, games and sports requisites; parts and accessories thereof 23,650.7 0.74 21,051.612.35
96 Miscellaneous manufactured articles 9,726.3 0.30 10,446.1-6.89
97 Works of art, collectors’ pieces and antiques 481.6 0.02 316.552.18

US Imports from Panama

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

  • Food products and agricultural raw materials (HS codes 01-24) - 33.95% of US total imports from Panama (38.16% in the first half of 2016);
  • Precious metals and stones (HS code 71) - 7.95% of US total imports from Panama (7.57% in the first half of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 4.33% of US total imports from Panama (7.07% in the first half of 2016);
  • Metals and products from them (HS codes 72-83) - 4.10% of US total imports from Panama (3.00% in the first half of 2016);
  • Chemical products (HS codes 28-40) - 2.82% of US total imports from Panama (3.48% in the first half of 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.52% of US total imports from Panama (1.00% in the first half of 2016).

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

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $5.1 million;
  • Copper and articles thereof (HS code 74) - an increase of $3.5 million;
  • 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 $2.0 million;
  • Articles of apparel and clothing accessories, not knitted or crocheted (HS code 62) - an increase of $1.3 million;
  • Coffee, tea, maté and spices (HS code 09) - an increase of $1.1 million;
  • Plastics and articles thereof (HS code 39) - an increase of $0.7 million.

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

  • Tobacco and manufactured tobacco substitutes (HS code 24) - a decrease of $4.2 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 $2.5 million;
  • Edible vegetables and certain roots and tubers (HS code 07) - a decrease of $1.7 million;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $1.6 million;
  • Edible fruit and nuts; peel of citrus fruit or melons (HS code 08) - a decrease of $1.6 million;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $1.2 million;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $1.1 million;
  • Sugars and sugar confectionery (HS code 17) - a decrease of $1.0 million;
  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - a decrease of $0.8 million;
  • Beverages, spirits and vinegar (HS code 22) - a decrease of $0.8 million.
US imports from Panama in the first half of 2017 by product groups
HS
code
Name of product group Value
of imports
in first-half 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in first-half 2016
(USD thousand)
Change
in first-half 2017
over first-half 2016
(%)
01 Live animals 9.1 0.00 11.7-22.88
03 Fish and crustaceans, molluscs and other aquatic invertebrates 41,376.3 18.81 36,257.014.12
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 5.6 0.00 22.8-75.37
07 Edible vegetables and certain roots and tubers 218.8 0.10 1,898.0-88.47
08 Edible fruit and nuts; peel of citrus fruit or melons 2,604.9 1.18 4,222.6-38.31
09 Coffee, tea, maté and spices 3,936.8 1.79 2,882.036.60
10 Cereals 0.0 0.00 9.1-100.00
11 Products of the milling industry; malt; starches; inulin; wheat gluten 19.5 0.01 0.0
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 154.9 0.07 142.88.48
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 3,141.4 1.43 3,969.7-20.86
17 Sugars and sugar confectionery 19,329.1 8.79 20,375.3-5.13
19 Preparations of cereals, flour, starch or milk; bakers’ wares 5.4 0.00 155.6-96.50
20 Preparations of vegetables, fruit, nuts or other parts of plants 610.6 0.28 2.623,284.49
21 Miscellaneous edible preparations 397.8 0.18 120.5230.24
22 Beverages, spirits and vinegar 842.0 0.38 1,634.2-48.47
23 Residues and waste from the food industries; prepared animal feed 2,015.6 0.92 2,282.6-11.70
24 Tobacco and manufactured tobacco substitutes 0.0 0.00 4,230.3-100.00
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 0.0 0.00 11.2-100.00
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 32.1 0.01 1,216.7-97.36
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 35.6 0.02 72.0-50.62
30 Pharmaceutical products 12.2 0.01 277.1-95.59
31 Fertilizers 0.0 0.00 107.3-100.00
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 8.5 0.00 250.0-96.61
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 1,825.5 0.83 2,066.9-11.68
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 60.4 0.03 39.652.63
36 Explosives; pyrotechnic products; matches; pyrophoric alloys; certain combustible preparations 0.0 0.00 55.1-100.00
37 Photographic or cinematographic goods 0.0 0.00 9.2-100.00
38 Miscellaneous chemical products 107.6 0.05 95.812.28
39 Plastics and articles thereof 4,139.0 1.88 3,478.918.97
40 Rubber and articles thereof 23.2 0.01 608.0-96.19
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) 39.4 0.02 123.8-68.20
44 Wood and articles of wood; wood charcoal 63.5 0.03 98.4-35.45
46 Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork 10.4 0.00 4.2147.61
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 115.8 0.05 134.1-13.65
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 110.2 0.05 606.8-81.84
52 Cotton 1.1 0.00 0.0
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 2.2 0.00 0.0
57 Carpets and other textile floor coverings 0.0 0.00 6.9-100.00
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 1,669.9 0.76 1,426.917.04
60 Knitted or crocheted fabrics 0.6 0.00 0.0
61 Articles of apparel and clothing accessories, knitted or crocheted 97.7 0.04 278.6-64.95
62 Articles of apparel and clothing accessories, not knitted or crocheted 1,485.3 0.68 211.2603.23
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 7.9 0.00 86.6-90.84
64 Footwear, gaiters and the like; parts of such articles 71.2 0.03 26.2171.25
65 Headgear and parts thereof 4.9 0.00 5.8-14.66
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 0.0 0.00 447.1-100.00
69 Ceramic products 52.1 0.02 139.1-62.55
70 Glass and glassware 187.0 0.09 278.1-32.75
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 17,483.7 7.95 15,522.912.63
72 Iron and steel 126.3 0.06 526.0-76.00
73 Articles of iron or steel 172.4 0.08 193.0-10.66
74 Copper and articles thereof 4,064.8 1.85 595.4582.65
76 Aluminum and articles thereof 4,609.1 2.10 3,988.715.55
78 Lead and articles thereof 13.7 0.01 517.2-97.36
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 21.5 0.01 238.1-90.96
83 Miscellaneous articles of base metal 2.5 0.00 91.5-97.22
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 3,079.9 1.40 4,211.2-26.86
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 5,199.5 2.36 7,651.6-32.05
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 0.0 0.00 3.7-100.00
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 221.0 0.10 99.4122.41
89 Ships, boats and floating structures 146.4 0.07 20.8603.83
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 876.6 0.40 2,509.8-65.07
91 Clocks and watches and parts thereof 13.2 0.01 113.6-88.38
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 42.2 0.02 317.0-86.70
95 Toys, games and sports requisites; parts and accessories thereof 26.1 0.01 34.2-23.64
96 Miscellaneous manufactured articles 191.7 0.09 270.5-29.11
97 Works of art, collectors’ pieces and antiques 877.3 0.40 235.6272.40
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce