US trade (export - import) with Panama in 2017

Published or Updated: Jun 01, 2018

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

US Trade with Panama

In 2017, US trade with Panama totaled $6,903.0 million, up 5.21% ($341.8 million) from 2016.

US exports to Panama in 2017 totaled $6,445.1 million, up 5.02% ($308.2 million) from 2016.

US imports from Panama in 2017 totaled $457.9 million, up 7.92% ($33.6 million) from 2016.

US trade surplus with Panama in 2017 was $5,987.2 million, a 4.81% increase ($274.6 million) over 2016.

Panama was the US 55th largest trading partner in 2017 (down from 52nd in 2016), accounting for 0.1746% of US total trade (down from 0.1772% in 2016).

Panama was the US 37th largest export market in 2017 (down from 34th in 2016), accounting for 0.4169% of US total exports (down from 0.4223% in 2016).

Panama was the US 93rd largest supplier in 2017 (down from 91st in 2016), accounting for 0.0190% of US total imports (up from 0.0189% in 2016).

US Exports to Panama

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

  • Mineral products (HS codes 25-27) - 40.01% of US total exports to Panama (36.34% in 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 24.27% of US total exports to Panama (25.56% in 2016);
  • Food products and agricultural raw materials (HS codes 01-24) - 14.17% of US total exports to Panama (14.77% in 2016);
  • Chemical products (HS codes 28-40) - 8.72% of US total exports to Panama (10.11% in 2016);
  • Metals and products from them (HS codes 72-83) - 2.70% of US total exports to Panama (2.44% in 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.33% of US total exports to Panama (1.49% in 2016);
  • Wood and wood products (HS codes 44-49) - 0.95% of US total exports to Panama (1.09% in 2016).

The largest gains in US exports to Panama in 2017 over 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 $348.5 million;
  • Articles of iron or steel (HS code 73) - an increase of $45.0 million;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - an increase of $32.0 million;
  • Beverages, spirits and vinegar (HS code 22) - an increase of $19.7 million.

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

  • Aircraft, spacecraft, and parts thereof (HS code 88) - a decrease of $54.0 million;
  • Organic chemicals (HS code 29) - a decrease of $54.0 million.
US exports to Panama in 2017 by product groups
HS
code
Name of product group Value
of exports
in 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in 2016
(USD thousand)
Change
in 2017
over 2016
(%)
01 Live animals 7,462.8 0.12 6,252.719.35
02 Meat and edible meat offal 60,280.8 0.94 65,333.5-7.73
03 Fish and crustaceans, molluscs and other aquatic invertebrates 5,683.2 0.09 5,372.85.78
04 Dairy produce; birds eggs; natural honey; edible products of animal origin, not elsewhere specified or included 39,043.8 0.61 32,336.620.74
05 Products of animal origin, not elsewhere specified or included 2,670.0 0.04 2,247.218.81
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 754.3 0.01 736.72.39
07 Edible vegetables and certain roots and tubers 15,577.9 0.24 12,630.723.33
08 Edible fruit and nuts; peel of citrus fruit or melons 19,607.3 0.30 19,349.71.33
09 Coffee, tea, maté and spices 3,012.4 0.05 4,483.7-32.82
10 Cereals 127,993.5 1.99 130,341.3-1.80
11 Products of the milling industry; malt; starches; inulin; wheat gluten 2,854.9 0.04 2,369.220.50
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 15,323.6 0.24 23,657.4-35.23
13 Lac; gums, resins and other vegetable saps and extracts 1,324.3 0.02 805.064.51
14 Vegetable plaiting materials; vegetable products not elsewhere specified or included 53.6 0.00 61.4-12.76
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 14,520.1 0.23 14,408.40.78
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 23,348.5 0.36 22,871.82.08
17 Sugars and sugar confectionery 6,708.0 0.10 10,615.3-36.81
18 Cocoa and cocoa preparations 24,969.5 0.39 26,388.5-5.38
19 Preparations of cereals, flour, starch or milk; bakers’ wares 37,103.7 0.58 42,486.9-12.67
20 Preparations of vegetables, fruit, nuts or other parts of plants 46,902.3 0.73 43,923.26.78
21 Miscellaneous edible preparations 68,172.7 1.06 73,888.2-7.74
22 Beverages, spirits and vinegar 282,108.8 4.38 262,450.37.49
23 Residues and waste from the food industries; prepared animal feed 95,963.0 1.49 94,083.12.00
24 Tobacco and manufactured tobacco substitutes 11,757.9 0.18 9,104.129.15
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 4,221.9 0.07 3,899.38.27
26 Ores, slag and ash 370.0 0.01 444.5-16.77
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 2,574,131.6 39.94 2,225,644.615.66
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 5,697.5 0.09 6,120.9-6.92
29 Organic chemicals 43,028.8 0.67 97,041.2-55.66
30 Pharmaceutical products 90,147.8 1.40 82,830.28.83
31 Fertilizers 5,530.6 0.09 1,650.2235.14
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 37,004.3 0.57 37,187.5-0.49
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 155,337.0 2.41 164,668.6-5.67
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 26,767.3 0.42 25,337.85.64
35 Albuminoidal substances; modified starches; glues; enzymes 6,426.5 0.10 6,396.60.47
36 Explosives; pyrotechnic products; matches; pyrophoric alloys; certain combustible preparations 1,819.6 0.03 1,094.666.23
37 Photographic or cinematographic goods 4,511.3 0.07 4,802.4-6.06
38 Miscellaneous chemical products 40,667.0 0.63 39,245.83.62
39 Plastics and articles thereof 119,142.8 1.85 116,985.41.84
40 Rubber and articles thereof 26,071.1 0.40 37,044.8-29.62
41 Raw hides and skins (other than furskins) and leather 231.1 0.00 24.0864.83
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 31,722.4 0.49 27,721.614.43
43 Furskins and artificial fur; manufactures thereof 5,476.9 0.08 133.14,014.17
44 Wood and articles of wood; wood charcoal 11,668.0 0.18 15,114.7-22.80
45 Cork and articles of cork 28.9 0.00 19.449.35
46 Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork 105.8 0.00 72.146.79
47 Pulp of wood or of other fibrous cellulosic material; waste and scrap of paper or paperboard 1,288.3 0.02 2,076.2-37.95
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 39,280.4 0.61 38,782.81.28
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 8,663.0 0.13 11,086.7-21.86
50 Silk 62.0 0.00 4.01,446.82
51 Wool, fine or coarse animal hair; horsehair yarn and woven fabric 652.8 0.01 381.970.94
52 Cotton 286.7 0.00 894.5-67.95
53 Other vegetable textile fibers; paper yarn and woven fabric of paper yarn 229.6 0.00 65.1252.70
54 Man-made filaments 1,331.5 0.02 1,257.85.86
55 Man-made staple fibers 447.3 0.01 817.5-45.29
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 3,350.3 0.05 2,695.624.28
57 Carpets and other textile floor coverings 2,402.3 0.04 3,337.5-28.02
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 313.1 0.00 561.1-44.20
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 3,071.3 0.05 2,398.928.03
60 Knitted or crocheted fabrics 299.3 0.00 324.7-7.82
61 Articles of apparel and clothing accessories, knitted or crocheted 17,041.3 0.26 15,827.27.67
62 Articles of apparel and clothing accessories, not knitted or crocheted 20,960.5 0.33 26,629.4-21.29
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 15,886.5 0.25 16,276.2-2.39
64 Footwear, gaiters and the like; parts of such articles 15,988.5 0.25 15,602.52.47
65 Headgear and parts thereof 2,209.0 0.03 1,832.320.55
66 Umbrellas, sun umbrellas, walking sticks, seatsticks, whips, riding-crops and parts thereof 201.6 0.00 329.9-38.89
67 Prepared feathers and down and articles made of feathers or of down; artificial flowers; articles of human hair 738.1 0.01 2,003.3-63.16
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 23,410.0 0.36 17,878.030.94
69 Ceramic products 3,225.9 0.05 3,893.4-17.14
70 Glass and glassware 6,236.6 0.10 8,416.0-25.90
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 36,790.2 0.57 45,423.8-19.01
72 Iron and steel 4,157.3 0.06 7,747.4-46.34
73 Articles of iron or steel 119,607.3 1.86 74,645.360.23
74 Copper and articles thereof 1,753.7 0.03 2,953.6-40.62
75 Nickel and articles thereof 117.0 0.00 84.438.55
76 Aluminum and articles thereof 22,543.6 0.35 29,169.4-22.71
78 Lead and articles thereof 233.9 0.00 233.80.05
79 Zinc and articles thereof 389.7 0.01 337.215.58
80 Tin and articles thereof 174.5 0.00 115.251.53
81 Other base metals; cermets; articles thereof 615.1 0.01 4,983.6-87.66
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 16,106.6 0.25 19,096.2-15.66
83 Miscellaneous articles of base metal 8,637.3 0.13 10,209.9-15.40
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 557,197.3 8.65 555,164.90.37
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 392,125.5 6.08 394,282.6-0.55
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 2,176.1 0.03 2,140.11.68
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 265,021.7 4.11 232,977.813.75
88 Aircraft, spacecraft, and parts thereof 174,601.0 2.71 228,618.5-23.63
89 Ships, boats and floating structures 32,128.2 0.50 17,472.383.88
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 140,748.8 2.18 137,717.62.20
91 Clocks and watches and parts thereof 11,656.2 0.18 14,290.7-18.44
92 Musical instruments; parts and accessories of such articles 779.8 0.01 990.4-21.27
93 Arms and ammunition; parts and accessories thereof 1,495.0 0.02 1,736.8-13.92
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 45,161.4 0.70 53,675.5-15.86
95 Toys, games and sports requisites; parts and accessories thereof 57,951.1 0.90 66,519.0-12.88
96 Miscellaneous manufactured articles 19,434.4 0.30 20,023.6-2.94
97 Works of art, collectors’ pieces and antiques 1,058.9 0.02 1,003.95.47
99 Commodities not specified according to kind 261,597.7 4.06 242,311.47.96

US Imports from Panama

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

  • Food products and agricultural raw materials (HS codes 01-24) - 32.62% of US total imports from Panama (38.55% in 2016);
  • Precious metals and stones (HS code 71) - 7.36% of US total imports from Panama (7.27% in 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 6.72% of US total imports from Panama (5.52% in 2016);
  • Metals and products from them (HS codes 72-83) - 4.47% of US total imports from Panama (2.89% in 2016);
  • Chemical products (HS codes 28-40) - 2.91% of US total imports from Panama (3.34% in 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.32% of US total imports from Panama (1.03% in 2016).

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

  • Commodities not specified according to kind (HS code 99) - an increase of $32.0 million;
  • Copper and articles thereof (HS code 74) - an increase of $8.1 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) - an increase of $7.1 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 $2.9 million;
  • Plastics and articles thereof (HS code 39) - an increase of $1.9 million;
  • Lead and articles thereof (HS code 78) - an increase of $1.5 million;
  • Articles of apparel and clothing accessories, not knitted or crocheted (HS code 62) - an increase of $1.4 million.

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

  • Tobacco and manufactured tobacco substitutes (HS code 24) - a decrease of $4.4 million;
  • Sugars and sugar confectionery (HS code 17) - a decrease of $3.8 million;
  • Edible fruit and nuts; peel of citrus fruit or melons (HS code 08) - a decrease of $3.0 million;
  • Beverages, spirits and vinegar (HS code 22) - a decrease of $2.6 million;
  • Edible vegetables and certain roots and tubers (HS code 07) - a decrease of $2.6 million;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $1.5 million.
US imports from Panama in 2017 by product groups
HS
code
Name of product group Value
of imports
in 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in 2016
USD thousand)
Change
in 2017
over 2016
(%)
01 Live animals 61.2 0.01 86.1-28.93
03 Fish and crustaceans, molluscs and other aquatic invertebrates 95,779.5 20.92 94,933.70.89
05 Products of animal origin, not elsewhere specified or included 31.5 0.01 30.72.51
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 14.8 0.00 31.5-53.16
07 Edible vegetables and certain roots and tubers 798.6 0.17 3,439.4-76.78
08 Edible fruit and nuts; peel of citrus fruit or melons 4,995.4 1.09 8,005.8-37.60
09 Coffee, tea, maté and spices 6,475.2 1.41 7,271.6-10.95
10 Cereals 0.0 0.00 9.1-100.00
11 Products of the milling industry; malt; starches; inulin; wheat gluten 81.4 0.02 20.2303.72
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 234.0 0.05 196.319.20
13 Lac; gums, resins and other vegetable saps and extracts 5.2 0.00 0.0
14 Vegetable plaiting materials; vegetable products not elsewhere specified or included 0.0 0.00 14.6-100.00
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 6,115.5 1.34 6,073.70.69
17 Sugars and sugar confectionery 24,918.8 5.44 28,723.9-13.25
19 Preparations of cereals, flour, starch or milk; bakers’ wares 18.5 0.00 187.3-90.10
20 Preparations of vegetables, fruit, nuts or other parts of plants 1,112.4 0.24 116.1858.27
21 Miscellaneous edible preparations 673.8 0.15 220.7205.26
22 Beverages, spirits and vinegar 2,992.8 0.65 5,636.6-46.90
23 Residues and waste from the food industries; prepared animal feed 4,721.7 1.03 3,889.421.40
24 Tobacco and manufactured tobacco substitutes 316.3 0.07 4,691.0-93.26
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 11.2 0.00 25.4-55.75
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 49.0 0.01 1,530.1-96.80
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 0.0 0.00 81.2-100.00
29 Organic chemicals 119.1 0.03 126.0-5.50
30 Pharmaceutical products 328.3 0.07 1,100.1-70.16
31 Fertilizers 0.0 0.00 111.8-100.00
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 51.8 0.01 267.0-80.59
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 3,769.1 0.82 4,719.7-20.14
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 130.6 0.03 205.6-36.48
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 466.8 0.10 205.4127.23
39 Plastics and articles thereof 8,257.0 1.80 6,404.628.92
40 Rubber and articles thereof 198.3 0.04 902.6-78.02
41 Raw hides and skins (other than furskins) and leather 11.6 0.00 4.0186.15
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 123.9 0.03 182.3-32.05
44 Wood and articles of wood; wood charcoal 433.6 0.09 495.9-12.55
46 Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork 10.4 0.00 17.0-38.71
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 255.2 0.06 427.2-40.25
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 123.9 0.03 721.2-82.82
51 Wool, fine or coarse animal hair; horsehair yarn and woven fabric 0.0 0.00 122.7-100.00
52 Cotton 1.1 0.00 0.0
54 Man-made filaments 0.0 0.00 18.2-100.00
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 5.3 0.00 0.8536.45
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 3.728.25
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 3,191.1 0.70 2,726.117.06
60 Knitted or crocheted fabrics 0.6 0.00 5.9-89.81
61 Articles of apparel and clothing accessories, knitted or crocheted 258.9 0.06 360.1-28.11
62 Articles of apparel and clothing accessories, not knitted or crocheted 2,397.0 0.52 955.6150.83
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 22.7 0.00 91.6-75.19
64 Footwear, gaiters and the like; parts of such articles 156.8 0.03 63.0148.92
65 Headgear and parts thereof 15.1 0.00 8.283.78
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 0.0 0.00 457.6-100.00
69 Ceramic products 217.3 0.05 315.4-31.10
70 Glass and glassware 674.2 0.15 479.640.57
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 33,715.7 7.36 30,836.99.34
72 Iron and steel 248.3 0.05 893.4-72.20
73 Articles of iron or steel 361.5 0.08 391.8-7.74
74 Copper and articles thereof 9,732.1 2.13 1,589.5512.26
75 Nickel and articles thereof 44.1 0.01 0.0
76 Aluminum and articles thereof 7,546.4 1.65 7,852.9-3.90
78 Lead and articles thereof 2,401.9 0.52 879.5173.10
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 116.8 0.03 550.1-78.78
83 Miscellaneous articles of base metal 33.5 0.01 94.8-64.62
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 7,618.7 1.66 7,428.02.57
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 19,627.6 4.29 12,533.056.61
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 79.0-100.00
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 524.8 0.11 216.4142.51
88 Aircraft, spacecraft, and parts thereof 14.3 0.00 0.0
89 Ships, boats and floating structures 146.4 0.03 30.6378.12
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 2,816.4 0.62 3,132.3-10.09
91 Clocks and watches and parts thereof 28.5 0.01 205.5-86.14
92 Musical instruments; parts and accessories of such articles 0.0 0.00 46.1-100.00
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 230.5 0.05 728.8-68.37
95 Toys, games and sports requisites; parts and accessories thereof 41.3 0.01 71.4-42.11
96 Miscellaneous manufactured articles 448.3 0.10 544.6-17.68
97 Works of art, collectors’ pieces and antiques 1,049.2 0.23 933.412.41
99 Commodities not specified according to kind 200,518.0 43.79 168,475.819.02
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce