US trade with Panama in the 3rd quarter of 2017

Published or Updated: May 30, 2018

The report on US foreign trade in goods with Panama in the 3rd quarter of 2017: exports, imports, balance, product types and groups, dynamics.

US Trade with Panama

In the 3rd quarter of 2017, US trade with Panama totaled $1,704.0 million, up 11.78% ($179.6 million) from the 3rd quarter of 2016.

US exports to Panama in the 3rd quarter of 2017 totaled $1,569.1 million, up 11.21% ($158.2 million) from the 3rd quarter of 2016.

US imports from Panama in the 3rd quarter of 2017 totaled $134.9 million, up 18.83% ($21.4 million) from the 3rd quarter of 2016.

US trade surplus with Panama in the 3rd quarter of 2017 was $1,434.1 million, a 10.54% increase ($136.8 million) over the 3rd quarter of 2016.

Panama was the US 55th largest trading partner in the 3rd quarter of 2017 (down from 54th in the 3rd quarter of 2016), accounting for 0.1727% of US total trade (down from 0.1859% in the 3rd quarter of 2016).

Panama was the US 38th largest export market in the 3rd quarter of 2017 (down from 37th in the 3rd quarter of 2016), accounting for 0.4115% of US total exports (up from 0.4072% in the 3rd quarter of 2016).

Panama was the US 89th largest supplier in the 3rd quarter of 2017 (just as in the 3rd quarter of 2016), accounting for 0.0223% of US total imports (down from 0.0240% in the 3rd quarter of 2016).

US Exports to Panama

The major share of US exports to Panama in the 3rd quarter of 2017 (and in the 3rd quarter of 2016) was accounted for the following product types:

  • Mineral products (HS codes 25-27) - 42.76% of US total exports to Panama (36.32% in the 3rd quarter of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 22.88% of US total exports to Panama (23.91% in the 3rd quarter of 2016);
  • Food products and agricultural raw materials (HS codes 01-24) - 14.08% of US total exports to Panama (17.01% in the 3rd quarter of 2016);
  • Chemical products (HS codes 28-40) - 8.77% of US total exports to Panama (9.35% in the 3rd quarter of 2016);
  • Metals and products from them (HS codes 72-83) - 1.55% of US total exports to Panama (2.10% in the 3rd quarter of 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.29% of US total exports to Panama (1.70% in the 3rd quarter of 2016);
  • Wood and wood products (HS codes 44-49) - 1.01% of US total exports to Panama (1.29% in the 3rd quarter of 2016).

The largest gains in US exports to Panama in the 3rd quarter of 2017 over the 3rd 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 $158.4 million;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - an increase of $24.0 million;
  • Commodities not specified according to kind (HS code 99) - an increase of $8.7 million;
  • Organic chemicals (HS code 29) - an increase of $8.5 million.

The largest declines in US exports to Panama in the 3rd quarter of 2017 over the 3rd quarter of 2016 were recorded for the following product groups:

  • No product groups with a substantial decrease.
US exports to Panama in the 3rd quarter of 2017 by product groups
HS
code
Name of product group Value
of exports
in Q3 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in Q3 2016
(USD thousand)
Change
in Q3 2017
over Q3 2016
(%)
01 Live animals 1,650.0 0.11 1,467.112.47
02 Meat and edible meat offal 14,764.0 0.94 16,544.7-10.76
03 Fish and crustaceans, molluscs and other aquatic invertebrates 899.9 0.06 1,036.0-13.14
04 Dairy produce; birds eggs; natural honey; edible products of animal origin, not elsewhere specified or included 8,551.5 0.54 9,626.5-11.17
05 Products of animal origin, not elsewhere specified or included 756.2 0.05 740.92.06
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 139.0 0.01 149.9-7.28
07 Edible vegetables and certain roots and tubers 3,476.1 0.22 3,151.810.29
08 Edible fruit and nuts; peel of citrus fruit or melons 5,073.0 0.32 5,207.5-2.58
09 Coffee, tea, maté and spices 447.7 0.03 909.9-50.79
10 Cereals 31,010.3 1.98 35,010.9-11.43
11 Products of the milling industry; malt; starches; inulin; wheat gluten 835.3 0.05 679.123.00
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 5,077.0 0.32 7,913.4-35.84
13 Lac; gums, resins and other vegetable saps and extracts 291.4 0.02 215.835.05
14 Vegetable plaiting materials; vegetable products not elsewhere specified or included 0.0 0.00 6.1-100.00
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 2,993.3 0.19 3,272.1-8.52
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 5,945.1 0.38 6,241.4-4.75
17 Sugars and sugar confectionery 1,444.0 0.09 3,378.3-57.26
18 Cocoa and cocoa preparations 5,795.4 0.37 5,814.1-0.32
19 Preparations of cereals, flour, starch or milk; bakers’ wares 8,057.2 0.51 11,682.3-31.03
20 Preparations of vegetables, fruit, nuts or other parts of plants 11,405.6 0.73 11,665.7-2.23
21 Miscellaneous edible preparations 15,464.0 0.99 18,507.3-16.44
22 Beverages, spirits and vinegar 68,585.9 4.37 73,000.8-6.05
23 Residues and waste from the food industries; prepared animal feed 24,624.6 1.57 19,937.923.51
24 Tobacco and manufactured tobacco substitutes 3,677.3 0.23 3,828.6-3.95
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 1,337.0 0.09 1,100.221.53
26 Ores, slag and ash 42.2 0.00 181.3-76.72
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 669,577.8 42.67 511,205.330.98
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 1,124.3 0.07 1,567.8-28.29
29 Organic chemicals 16,774.0 1.07 8,285.4102.45
30 Pharmaceutical products 19,294.2 1.23 16,851.814.49
31 Fertilizers 314.0 0.02 583.3-46.18
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 7,672.1 0.49 10,090.1-23.96
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 35,473.3 2.26 39,639.2-10.51
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 6,316.1 0.40 6,912.1-8.62
35 Albuminoidal substances; modified starches; glues; enzymes 1,428.1 0.09 1,773.0-19.45
36 Explosives; pyrotechnic products; matches; pyrophoric alloys; certain combustible preparations 1,082.0 0.07 419.7157.79
37 Photographic or cinematographic goods 731.5 0.05 996.4-26.58
38 Miscellaneous chemical products 10,568.9 0.67 10,475.40.89
39 Plastics and articles thereof 29,707.1 1.89 29,208.11.71
40 Rubber and articles thereof 7,101.1 0.45 5,124.438.57
41 Raw hides and skins (other than furskins) and leather 154.1 0.01 7.22,040.22
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 7,005.3 0.45 7,262.9-3.55
43 Furskins and artificial fur; manufactures thereof 1,600.2 0.10 127.31,157.51
44 Wood and articles of wood; wood charcoal 3,331.3 0.21 4,505.0-26.05
45 Cork and articles of cork 23.8 0.00 0.0
46 Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork 22.0 0.00 13.957.86
47 Pulp of wood or of other fibrous cellulosic material; waste and scrap of paper or paperboard 236.7 0.02 527.3-55.11
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 10,639.3 0.68 10,796.7-1.46
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 1,573.8 0.10 2,414.3-34.82
50 Silk 34.0 0.00 0.0
51 Wool, fine or coarse animal hair; horsehair yarn and woven fabric 148.9 0.01 148.70.17
52 Cotton 45.5 0.00 183.1-75.16
53 Other vegetable textile fibers; paper yarn and woven fabric of paper yarn 88.4 0.01 30.9186.20
54 Man-made filaments 344.1 0.02 145.8136.04
55 Man-made staple fibers 126.3 0.01 85.248.18
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 1,018.7 0.06 543.087.61
57 Carpets and other textile floor coverings 573.9 0.04 543.65.57
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 73.1 0.00 87.2-16.15
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 679.7 0.04 474.043.41
60 Knitted or crocheted fabrics 98.6 0.01 51.690.91
61 Articles of apparel and clothing accessories, knitted or crocheted 2,935.7 0.19 4,441.1-33.90
62 Articles of apparel and clothing accessories, not knitted or crocheted 5,376.5 0.34 7,653.8-29.75
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 4,149.7 0.26 4,432.0-6.37
64 Footwear, gaiters and the like; parts of such articles 3,743.8 0.24 4,130.9-9.37
65 Headgear and parts thereof 620.4 0.04 484.228.12
66 Umbrellas, sun umbrellas, walking sticks, seatsticks, whips, riding-crops and parts thereof 20.9 0.00 80.1-73.94
67 Prepared feathers and down and articles made of feathers or of down; artificial flowers; articles of human hair 174.5 0.01 434.9-59.89
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 5,892.7 0.38 4,660.426.44
69 Ceramic products 793.7 0.05 833.2-4.74
70 Glass and glassware 1,310.4 0.08 2,243.6-41.59
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 6,687.7 0.43 9,349.2-28.47
72 Iron and steel 773.7 0.05 1,409.8-45.12
73 Articles of iron or steel 11,557.7 0.74 12,981.4-10.97
74 Copper and articles thereof 486.4 0.03 342.941.85
75 Nickel and articles thereof 27.0 0.00 15.969.54
76 Aluminum and articles thereof 3,387.3 0.22 6,439.9-47.40
78 Lead and articles thereof 38.6 0.00 45.9-16.06
79 Zinc and articles thereof 109.4 0.01 113.9-4.00
80 Tin and articles thereof 7.2 0.00 18.3-60.43
81 Other base metals; cermets; articles thereof 174.8 0.01 122.542.71
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 5,696.2 0.36 5,201.99.50
83 Miscellaneous articles of base metal 2,043.6 0.13 2,927.0-30.18
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 141,730.8 9.03 140,358.30.98
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 87,692.1 5.59 90,352.9-2.94
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 1,036.3 0.07 607.470.61
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 72,215.1 4.60 48,259.949.64
88 Aircraft, spacecraft, and parts thereof 22,906.0 1.46 19,169.319.49
89 Ships, boats and floating structures 2,347.2 0.15 3,992.4-41.21
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 31,040.4 1.98 34,657.7-10.44
91 Clocks and watches and parts thereof 2,455.1 0.16 3,902.1-37.08
92 Musical instruments; parts and accessories of such articles 268.6 0.02 226.318.72
93 Arms and ammunition; parts and accessories thereof 267.9 0.02 421.6-36.47
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 10,571.1 0.67 11,378.1-7.09
95 Toys, games and sports requisites; parts and accessories thereof 13,599.9 0.87 16,635.5-18.25
96 Miscellaneous manufactured articles 4,480.6 0.29 3,602.824.36
97 Works of art, collectors’ pieces and antiques 183.4 0.01 408.9-55.15
99 Commodities not specified according to kind 64,960.5 4.14 56,221.615.54

US Imports from Panama

The major share of US imports from Panama in the 3rd quarter of 2017 (and in the 3rd quarter of 2016) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 32.42% of US total imports from Panama (44.32% in the 3rd quarter of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 9.76% of US total imports from Panama (4.03% in the 3rd quarter of 2016);
  • Precious metals and stones (HS code 71) - 6.35% of US total imports from Panama (8.67% in the 3rd quarter of 2016);
  • Metals and products from them (HS codes 72-83) - 4.65% of US total imports from Panama (2.90% in the 3rd quarter of 2016);
  • Chemical products (HS codes 28-40) - 3.31% of US total imports from Panama (2.74% in the 3rd quarter of 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.09% of US total imports from Panama (0.86% in the 3rd quarter of 2016).

The largest gains in US imports from Panama in the 3rd quarter of 2017 over the 3rd quarter of 2016 were recorded for the following product groups:

  • Commodities not specified according to kind (HS code 99) - an increase of $16.4 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;
  • Copper and articles thereof (HS code 74) - an increase of $2.4 million;
  • Plastics and articles thereof (HS code 39) - an increase of $1.3 million;
  • Lead and articles thereof (HS code 78) - an increase of $1.3 million;
  • Residues and waste from the food industries; prepared animal feed (HS code 23) - an increase of $1.0 million;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $0.9 million;
  • Articles of apparel and clothing accessories, not knitted or crocheted (HS code 62) - an increase of $0.5 million;
  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - an increase of $0.5 million;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $0.4 million.

The largest declines in US imports from Panama in the 3rd quarter of 2017 over the 3rd quarter of 2016 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $3.9 million;
  • Sugars and sugar confectionery (HS code 17) - a decrease of $2.1 million;
  • Coffee, tea, maté and spices (HS code 09) - a decrease of $1.3 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) - a decrease of $1.3 million;
  • Beverages, spirits and vinegar (HS code 22) - a decrease of $0.5 million.
US imports from Panama in the 3rd quarter of 2017 by product groups
HS
code
Name of product group Value
of imports
in Q3 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in Q3 2016
(USD thousand)
Change
in Q3 2017
over Q3 2016
(%)
01 Live animals 15.6 0.01 0.0
03 Fish and crustaceans, molluscs and other aquatic invertebrates 30,512.1 22.61 34,390.2-11.28
05 Products of animal origin, not elsewhere specified or included 31.5 0.02 30.72.51
07 Edible vegetables and certain roots and tubers 251.6 0.19 297.0-15.27
08 Edible fruit and nuts; peel of citrus fruit or melons 1,447.2 1.07 1,792.1-19.25
09 Coffee, tea, maté and spices 2,444.4 1.81 3,768.2-35.13
11 Products of the milling industry; malt; starches; inulin; wheat gluten 46.7 0.03 0.0
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 62.8 0.05 40.156.65
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 1,371.2 1.02 849.961.33
17 Sugars and sugar confectionery 4,560.7 3.38 6,682.2-31.75
20 Preparations of vegetables, fruit, nuts or other parts of plants 168.5 0.12 76.2121.10
21 Miscellaneous edible preparations 213.5 0.16 67.0218.64
22 Beverages, spirits and vinegar 1,105.7 0.82 1,565.9-29.39
23 Residues and waste from the food industries; prepared animal feed 1,416.9 1.05 376.9275.93
24 Tobacco and manufactured tobacco substitutes 93.0 0.07 377.0-75.33
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 10.9 0.01 170.9-93.65
29 Organic chemicals 17.6 0.01 18.0-2.49
30 Pharmaceutical products 316.1 0.23 271.316.51
31 Fertilizers 0.0 0.00 4.4-100.00
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 20.9 0.02 3.4509.49
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 1,314.7 0.97 1,210.38.63
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 0.00 134.6-100.00
38 Miscellaneous chemical products 191.3 0.14 77.6146.68
39 Plastics and articles thereof 2,525.3 1.87 1,215.9107.70
40 Rubber and articles thereof 74.7 0.06 176.7-57.71
41 Raw hides and skins (other than furskins) and leather 8.4 0.01 0.0
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 3.5 0.00 3.6-3.28
44 Wood and articles of wood; wood charcoal 214.6 0.16 231.2-7.17
46 Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork 0.0 0.00 12.8-100.00
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 75.4 0.06 166.6-54.76
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 4.5 0.00 63.5-92.85
51 Wool, fine or coarse animal hair; horsehair yarn and woven fabric 0.0 0.00 122.7-100.00
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 2.8 0.00 0.5428.57
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 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 843.0 0.62 716.117.72
60 Knitted or crocheted fabrics 0.0 0.00 5.9-100.00
61 Articles of apparel and clothing accessories, knitted or crocheted 3.7 0.00 5.1-28.70
62 Articles of apparel and clothing accessories, not knitted or crocheted 596.1 0.44 74.8696.85
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 11.9 0.01 2.0511.33
64 Footwear, gaiters and the like; parts of such articles 2.9 0.00 30.8-90.74
65 Headgear and parts thereof 8.4 0.01 2.5243.43
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 0.0 0.00 5.1-100.00
69 Ceramic products 103.7 0.08 53.693.25
70 Glass and glassware 124.3 0.09 131.2-5.21
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 8,565.0 6.35 9,850.7-13.05
72 Iron and steel 107.4 0.08 278.6-61.46
73 Articles of iron or steel 108.3 0.08 87.024.41
74 Copper and articles thereof 2,657.5 1.97 304.4773.08
76 Aluminum and articles thereof 1,686.9 1.25 1,953.8-13.66
78 Lead and articles thereof 1,661.9 1.23 362.3358.73
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 32.9 0.02 312.0-89.45
83 Miscellaneous articles of base metal 18.6 0.01 0.0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 2,436.4 1.81 1,574.954.70
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 9,706.0 7.19 2,558.3279.40
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 3.6-100.00
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 241.8 0.18 114.1111.80
88 Aircraft, spacecraft, and parts thereof 5.1 0.00 0.0
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 778.4 0.58 328.5136.93
91 Clocks and watches and parts thereof 4.7 0.00 87.9-94.62
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 113.7 0.08 49.6129.13
95 Toys, games and sports requisites; parts and accessories thereof 8.2 0.01 31.2-73.68
96 Miscellaneous manufactured articles 62.5 0.05 161.6-61.35
97 Works of art, collectors’ pieces and antiques 79.5 0.06 202.1-60.64
99 Commodities not specified according to kind 56,445.6 41.83 40,037.540.98
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce