US trade with Panama in the 1st quarter of 2017

Published or Updated: Jul 20, 2017

The report on US foreign trade in goods with Panama in the 1st quarter of 2017: exports, imports, balance, product types and groups, dynamics.

US Trade with Panama

In the 1st quarter of 2017, US trade with Panama was $1.6 billion, down 2.63% ($0.0 billion) from the 1st quarter of 2016.

US exports to Panama in the 1st quarter of 2017 were $1.6 billion, down 3.18% ($0.1 billion) from the 1st quarter of 2016.

US imports from Panama in the 1st quarter of 2017 totaled $0.1 billion, up 6.85% ($0.0 billion) from the 1st quarter of 2016.

US trade surplus with Panama in the 1st quarter of 2017 was $1.5 billion, a 3.79% decrease ($0.1 billion) over the 1st quarter of 2016.

Panama was the US 54th largest trading partner in the 1st quarter of 2017 (down from 51st in the 1st quarter of 2016), accounting for 0.1758% of US total trade (down from 0.1936% in the 1st quarter of 2016).

Panama was the US 37th largest export market in the 1st quarter of 2017 (just as in the 1st quarter of 2016), accounting for 0.4163% of US total exports (down from 0.4609% in the 1st quarter of 2016).

Panama was the US 93rd largest supplier in the 1st quarter of 2017 (down from 92nd in the 1st quarter of 2016), accounting for 0.0174% of US total imports (just as in the 1st quarter of 2016).

US Exports to Panama

The major share of US exports to Panama in the 1st quarter of 2017 (and in the 1st quarter of 2016) was accounted for the following product types:

  • Mineral products (HS codes 25-27) - 39.99% of US total exports to Panama (41.27% in the 1st quarter of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 24.95% of US total exports to Panama (22.28% in the 1st quarter of 2016);
  • Food products and agricultural raw materials (HS codes 01-24) - 14.80% of US total exports to Panama (12.93% in the 1st quarter of 2016);
  • Chemical products (HS codes 28-40) - 8.92% of US total exports to Panama (9.54% in the 1st quarter of 2016);
  • Metals and products from them (HS codes 72-83) - 1.47% of US total exports to Panama (3.92% in the 1st quarter of 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.42% of US total exports to Panama (1.37% in the 1st quarter of 2016);
  • Wood and wood products (HS codes 44-49) - 1.00% of US total exports to Panama (1.13% in the 1st quarter of 2016).

The largest gains in US exports to Panama in the 1st quarter of 2017 over the 1st quarter of 2016 were recorded for the following product groups:

  • Aircraft, spacecraft, and parts thereof (HS code 88) - an increase of $44.7 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 $10.5 million;
  • Beverages, spirits and vinegar (HS code 22) - an increase of $10.4 million;
  • Cereals (HS code 10) - an increase of $5.8 million;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $4.8 million.

The largest declines in US exports to Panama in the 1st quarter of 2017 over the 1st 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) - a decrease of $41.2 million;
  • Articles of iron or steel (HS code 73) - a decrease of $31.3 million;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $20.9 million;
  • Organic chemicals (HS code 29) - a decrease of $13.0 million;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - a decrease of $6.4 million;
  • Rubber and articles thereof (HS code 40) - a decrease of $6.0 million.
US exports to Panama in the 1st quarter of 2017 by product groups
HS
code
Name of product group Value
of exports
in Q1 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in Q1 2016
(USD thousand)
Change
in Q1 2017
over Q1 2016
(%)
01 Live animals 1,585.0 0.10 1,462.98.35
02 Meat and edible meat offal 9,702.9 0.63 12,200.5-20.47
03 Fish and crustaceans, molluscs and other aquatic invertebrates 2,021.1 0.13 1,664.221.45
04 Dairy produce; birds eggs; natural honey; edible products of animal origin, not elsewhere specified or included 9,058.4 0.58 7,129.427.06
05 Products of animal origin, not elsewhere specified or included 318.2 0.02 500.1-36.37
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 179.1 0.01 90.098.93
07 Edible vegetables and certain roots and tubers 4,997.2 0.32 2,994.066.91
08 Edible fruit and nuts; peel of citrus fruit or melons 2,955.5 0.19 3,233.2-8.59
09 Coffee, tea, maté and spices 860.6 0.06 1,904.6-54.82
10 Cereals 35,075.1 2.26 29,304.019.69
11 Products of the milling industry; malt; starches; inulin; wheat gluten 520.5 0.03 413.925.77
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 3,101.1 0.20 5,117.0-39.40
13 Lac; gums, resins and other vegetable saps and extracts 271.9 0.02 188.544.23
14 Vegetable plaiting materials; vegetable products not elsewhere specified or included 15.8 0.00 12.030.99
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 5,587.0 0.36 3,009.085.67
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 5,734.3 0.37 4,879.617.52
17 Sugars and sugar confectionery 2,057.3 0.13 2,611.7-21.23
18 Cocoa and cocoa preparations 7,582.5 0.49 6,899.99.89
19 Preparations of cereals, flour, starch or milk; bakers’ wares 9,176.5 0.59 10,245.3-10.43
20 Preparations of vegetables, fruit, nuts or other parts of plants 10,636.5 0.69 9,801.88.52
21 Miscellaneous edible preparations 17,013.2 1.10 17,513.3-2.86
22 Beverages, spirits and vinegar 70,801.8 4.57 60,424.017.17
23 Residues and waste from the food industries; prepared animal feed 26,075.3 1.68 23,764.09.73
24 Tobacco and manufactured tobacco substitutes 4,225.0 0.27 1,751.6141.21
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 1,015.3 0.07 890.414.02
26 Ores, slag and ash 248.0 0.02 31.3692.93
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 618,951.1 39.91 660,194.7-6.25
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 1,707.6 0.11 2,259.3-24.42
29 Organic chemicals 4,447.1 0.29 17,489.6-74.57
30 Pharmaceutical products 24,099.8 1.55 22,449.17.35
31 Fertilizers 1,432.3 0.09 643.8122.49
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 8,629.4 0.56 8,712.5-0.95
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 39,274.8 2.53 41,191.2-4.65
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 7,216.5 0.47 5,312.035.85
35 Albuminoidal substances; modified starches; glues; enzymes 1,723.6 0.11 1,450.018.87
36 Explosives; pyrotechnic products; matches; pyrophoric alloys; certain combustible preparations 359.9 0.02 330.29.00
37 Photographic or cinematographic goods 769.9 0.05 725.46.13
38 Miscellaneous chemical products 9,329.8 0.60 8,415.410.87
39 Plastics and articles thereof 33,124.4 2.14 31,581.54.89
40 Rubber and articles thereof 6,298.7 0.41 12,266.0-48.65
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 7,435.5 0.48 8,052.7-7.66
43 Furskins and artificial fur; manufactures thereof 36.2 0.00 0.0
44 Wood and articles of wood; wood charcoal 2,520.0 0.16 3,706.6-32.01
45 Cork and articles of cork 2.6 0.00 5.5-53.28
46 Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork 25.9 0.00 18.441.06
47 Pulp of wood or of other fibrous cellulosic material; waste and scrap of paper or paperboard 335.3 0.02 544.6-38.43
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 9,652.6 0.62 10,374.5-6.96
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 2,902.7 0.19 3,419.0-15.10
50 Silk 18.8 0.00 4.0369.14
51 Wool, fine or coarse animal hair; horsehair yarn and woven fabric 114.1 0.01 51.2122.87
52 Cotton 43.1 0.00 200.8-78.55
53 Other vegetable textile fibers; paper yarn and woven fabric of paper yarn 73.1 0.00 5.01,362.34
54 Man-made filaments 315.2 0.02 758.8-58.45
55 Man-made staple fibers 37.1 0.00 565.1-93.44
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 863.2 0.06 928.6-7.04
57 Carpets and other textile floor coverings 615.6 0.04 671.4-8.31
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 131.3 0.01 172.2-23.74
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 783.9 0.05 868.5-9.75
60 Knitted or crocheted fabrics 71.5 0.00 125.9-43.17
61 Articles of apparel and clothing accessories, knitted or crocheted 4,258.3 0.27 4,227.50.73
62 Articles of apparel and clothing accessories, not knitted or crocheted 5,441.3 0.35 5,095.76.78
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 3,390.4 0.22 3,347.61.28
64 Footwear, gaiters and the like; parts of such articles 4,931.3 0.32 3,899.026.48
65 Headgear and parts thereof 677.7 0.04 467.245.08
66 Umbrellas, sun umbrellas, walking sticks, seatsticks, whips, riding-crops and parts thereof 46.5 0.00 64.4-27.81
67 Prepared feathers and down and articles made of feathers or of down; artificial flowers; articles of human hair 233.7 0.02 426.7-45.23
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 5,192.7 0.33 3,865.834.32
69 Ceramic products 1,037.8 0.07 909.814.06
70 Glass and glassware 1,476.6 0.10 1,998.2-26.10
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 8,687.4 0.56 11,968.5-27.41
72 Iron and steel 1,167.7 0.08 1,298.0-10.04
73 Articles of iron or steel 9,109.9 0.59 40,411.3-77.46
74 Copper and articles thereof 617.1 0.04 777.4-20.62
75 Nickel and articles thereof 35.1 0.00 12.4184.15
76 Aluminum and articles thereof 6,081.5 0.39 8,133.0-25.22
78 Lead and articles thereof 67.5 0.00 59.014.34
79 Zinc and articles thereof 136.2 0.01 33.8303.03
80 Tin and articles thereof 106.1 0.01 5.71,761.23
81 Other base metals; cermets; articles thereof 82.5 0.01 4,441.4-98.14
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 3,048.7 0.20 4,867.2-37.36
83 Miscellaneous articles of base metal 2,296.3 0.15 2,747.6-16.42
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 118,624.5 7.65 139,562.9-15.00
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 102,822.4 6.63 92,337.111.36
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 272.5 0.02 488.2-44.19
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 58,857.1 3.80 65,236.1-9.78
88 Aircraft, spacecraft, and parts thereof 66,779.9 4.31 22,092.4202.28
89 Ships, boats and floating structures 1,260.0 0.08 3,572.5-64.73
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 38,390.5 2.48 33,602.114.25
91 Clocks and watches and parts thereof 3,056.4 0.20 3,170.4-3.60
92 Musical instruments; parts and accessories of such articles 111.6 0.01 88.526.13
93 Arms and ammunition; parts and accessories thereof 403.2 0.03 423.8-4.86
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 12,218.3 0.79 9,356.630.59
95 Toys, games and sports requisites; parts and accessories thereof 11,627.0 0.75 9,813.218.48
96 Miscellaneous manufactured articles 4,886.6 0.32 5,160.0-5.30
97 Works of art, collectors’ pieces and antiques 249.3 0.02 182.336.78

US Imports from Panama

The major share of US imports from Panama in the 1st quarter of 2017 (and in the 1st quarter of 2016) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 29.80% of US total imports from Panama (35.26% in the 1st quarter of 2016);
  • Precious metals and stones (HS code 71) - 7.10% of US total imports from Panama (7.83% in the 1st quarter of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 5.07% of US total imports from Panama (8.66% in the 1st quarter of 2016);
  • Metals and products from them (HS codes 72-83) - 4.40% of US total imports from Panama (3.86% in the 1st quarter of 2016);
  • Chemical products (HS codes 28-40) - 2.82% of US total imports from Panama (2.89% in the 1st quarter of 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.26% of US total imports from Panama (1.05% in the 1st quarter of 2016).

The largest gains in US imports from Panama in the 1st quarter of 2017 over the 1st quarter of 2016 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $4.4 million;
  • Copper and articles thereof (HS code 74) - an increase of $1.8 million;
  • Plastics and articles thereof (HS code 39) - an increase of $0.9 million;
  • Works of art, collectors’ pieces and antiques (HS code 97) - an increase of $0.5 million;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $0.4 million.

The largest declines in US imports from Panama in the 1st quarter of 2017 over the 1st quarter of 2016 were recorded for the following product groups:

  • Tobacco and manufactured tobacco substitutes (HS code 24) - a decrease of $2.6 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 $2.4 million;
  • Edible vegetables and certain roots and tubers (HS code 07) - a decrease of $1.5 million;
  • Edible fruit and nuts; peel of citrus fruit or melons (HS code 08) - a decrease of $1.4 million;
  • Sugars and sugar confectionery (HS code 17) - a decrease of $1.3 million;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $1.1 million;
  • Coffee, tea, maté and spices (HS code 09) - a decrease of $0.8 million;
  • Lead and articles thereof (HS code 78) - a decrease of $0.5 million;
  • Articles of stone, plaster, cement, asbestos, mica or similar materials (HS code 68) - a decrease of $0.4 million.
US imports from Panama in the 1st quarter of 2017 by product groups
HS
code
Name of product group Value
of imports
in Q1 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in Q1 2016
(USD thousand)
Change
in Q1 2017
over Q1 2016
(%)
01 Live animals 9.1 0.01 0.0
03 Fish and crustaceans, molluscs and other aquatic invertebrates 19,303.7 19.64 14,951.629.11
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 2.6 0.00 13.5-81.06
07 Edible vegetables and certain roots and tubers 85.4 0.09 1,539.1-94.45
08 Edible fruit and nuts; peel of citrus fruit or melons 1,078.1 1.10 2,483.1-56.58
09 Coffee, tea, maté and spices 96.7 0.10 909.9-89.37
10 Cereals 0.0 0.00 9.1-100.00
11 Products of the milling industry; malt; starches; inulin; wheat gluten 10.0 0.01 0.0
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 4.1 0.00 45.1-91.02
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 1,858.8 1.89 2,055.3-9.56
17 Sugars and sugar confectionery 4,862.3 4.95 6,145.2-20.88
19 Preparations of cereals, flour, starch or milk; bakers’ wares 5.4 0.01 131.3-95.85
20 Preparations of vegetables, fruit, nuts or other parts of plants 212.3 0.22 2.68,031.52
21 Miscellaneous edible preparations 309.4 0.31 78.0296.77
22 Beverages, spirits and vinegar 314.0 0.32 484.5-35.18
23 Residues and waste from the food industries; prepared animal feed 1,132.4 1.15 1,027.210.24
24 Tobacco and manufactured tobacco substitutes 0.0 0.00 2,554.0-100.00
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 0.0 0.00 8.6-100.00
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 8.9 0.01 27.8-67.98
29 Organic chemicals 18.0 0.02 36.0-50.00
30 Pharmaceutical products 0.0 0.00 277.1-100.00
31 Fertilizers 0.0 0.00 107.3-100.00
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 0.0 0.00 148.3-100.00
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 675.6 0.69 759.3-11.02
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 0.06 2.82,085.59
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 3.3 0.00 70.4-95.29
39 Plastics and articles thereof 2,010.5 2.05 1,063.489.05
40 Rubber and articles thereof 0.9 0.00 127.0-99.31
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 34.2 0.03 90.1-62.10
44 Wood and articles of wood; wood charcoal 61.0 0.06 36.865.69
46 Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork 10.4 0.01 4.2147.61
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 43.7 0.04 85.0-48.53
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 72.7 0.07 266.1-72.67
52 Cotton 1.1 0.00 0.0
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 1.7 0.00 0.0
57 Carpets and other textile floor coverings 0.0 0.00 3.7-100.00
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 800.3 0.81 624.428.17
61 Articles of apparel and clothing accessories, knitted or crocheted 48.0 0.05 157.9-69.62
62 Articles of apparel and clothing accessories, not knitted or crocheted 322.6 0.33 99.3224.95
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 0.0 0.00 60.1-100.00
64 Footwear, gaiters and the like; parts of such articles 68.5 0.07 23.9187.02
65 Headgear and parts thereof 0.8 0.00 0.3163.16
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 0.0 0.00 444.3-100.00
69 Ceramic products 0.0 0.00 94.1-100.00
70 Glass and glassware 116.7 0.12 39.7193.85
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 6,981.3 7.10 7,202.5-3.07
72 Iron and steel 64.3 0.07 346.1-81.42
73 Articles of iron or steel 36.8 0.04 59.1-37.66
74 Copper and articles thereof 2,102.0 2.14 305.4588.35
76 Aluminum and articles thereof 2,122.6 2.16 2,245.3-5.47
78 Lead and articles thereof 0.0 0.00 517.2-100.00
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 3.7 0.00 40.0-90.66
83 Miscellaneous articles of base metal 0.0 0.00 38.8-100.00
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 1,949.9 1.98 1,599.421.92
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 2,193.2 2.23 4,634.0-52.67
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 201.6 0.21 99.4102.90
89 Ships, boats and floating structures 80.3 0.08 0.0
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 561.9 0.57 1,628.7-65.50
91 Clocks and watches and parts thereof 0.0 0.00 28.4-100.00
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 31.1 0.03 16.984.21
95 Toys, games and sports requisites; parts and accessories thereof 23.8 0.02 29.4-19.10
96 Miscellaneous manufactured articles 136.4 0.14 155.3-12.17
97 Works of art, collectors’ pieces and antiques 578.9 0.59 47.61,116.65
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce