US trade with Panama in the 4th quarter of 2017

Published or Updated: Jun 01, 2018

The report on US foreign trade in goods with Panama in the 4th quarter of 2017: exports, imports, balance, product types and groups, dynamics.

US Trade with Panama

In the 4th quarter of 2017, US trade with Panama totaled $1,770.9 million, up 11.74% ($186.1 million) from the 4th quarter of 2016.

US exports to Panama in the 4th quarter of 2017 totaled $1,667.9 million, up 12.77% ($188.8 million) from the 4th quarter of 2016.

US imports from Panama in the 4th quarter of 2017 were $103.0 million, down 2.60% ($2.8 million) from the 4th quarter of 2016.

US trade surplus with Panama in the 4th quarter of 2017 was $1,564.9 million, a 13.95% increase ($191.6 million) over the 4th quarter of 2016.

Panama was the US 53rd largest trading partner in the 4th quarter of 2017 (up from 55th in the 4th quarter of 2016), accounting for 0.1698% of US total trade (up from 0.1648% in the 4th quarter of 2016).

Panama was the US 38th largest export market in the 4th quarter of 2017 (down from 37th in the 4th quarter of 2016), accounting for 0.4092% of US total exports (up from 0.3905% in the 4th quarter of 2016).

Panama was the US 97th largest supplier in the 4th quarter of 2017 (down from 89th in the 4th quarter of 2016), accounting for 0.0162% of US total imports (down from 0.0181% in the 4th quarter of 2016).

US Exports to Panama

The major share of US exports to Panama in the 4th quarter of 2017 (and in the 4th quarter of 2016) was accounted for the following product types:

  • Mineral products (HS codes 25-27) - 39.56% of US total exports to Panama (35.45% in the 4th quarter of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 24.88% of US total exports to Panama (24.83% in the 4th quarter of 2016);
  • Food products and agricultural raw materials (HS codes 01-24) - 15.06% of US total exports to Panama (17.38% in the 4th quarter of 2016);
  • Chemical products (HS codes 28-40) - 7.81% of US total exports to Panama (8.51% in the 4th quarter of 2016);
  • Metals and products from them (HS codes 72-83) - 1.58% of US total exports to Panama (1.69% in the 4th quarter of 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.29% of US total exports to Panama (1.55% in the 4th quarter of 2016).

The largest gains in US exports to Panama in the 4th quarter of 2017 over the 4th 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 $135.8 million;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - an increase of $20.6 million;
  • Aircraft, spacecraft, and parts thereof (HS code 88) - an increase of $18.7 million;
  • Commodities not specified according to kind (HS code 99) - an increase of $14.8 million;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $13.3 million;
  • Beverages, spirits and vinegar (HS code 22) - an increase of $10.9 million.

The largest declines in US exports to Panama in the 4th quarter of 2017 over the 4th quarter of 2016 were recorded for the following product groups:

  • Toys, games and sports requisites; parts and accessories thereof (HS code 95) - a decrease of $8.1 million;
  • Cereals (HS code 10) - a decrease of $7.1 million;
  • Residues and waste from the food industries; prepared animal feed (HS code 23) - a decrease of $5.7 million.
US exports to Panama in the 4th quarter of 2017 by product groups
HS
code
Name of product group Value
of exports
in Q4 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in Q4 2016
(USD thousand)
Change
in Q4 2017
over Q4 2016
(%)
01 Live animals 2,445.6 0.15 1,681.745.42
02 Meat and edible meat offal 24,151.0 1.45 24,008.20.59
03 Fish and crustaceans, molluscs and other aquatic invertebrates 1,323.1 0.08 1,370.7-3.47
04 Dairy produce; birds eggs; natural honey; edible products of animal origin, not elsewhere specified or included 11,270.6 0.68 8,067.639.70
05 Products of animal origin, not elsewhere specified or included 889.7 0.05 507.275.40
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 301.0 0.02 271.111.02
07 Edible vegetables and certain roots and tubers 3,039.3 0.18 2,630.515.54
08 Edible fruit and nuts; peel of citrus fruit or melons 8,451.7 0.51 7,583.611.45
09 Coffee, tea, maté and spices 685.4 0.04 766.3-10.56
10 Cereals 32,973.1 1.98 40,093.8-17.76
11 Products of the milling industry; malt; starches; inulin; wheat gluten 967.0 0.06 458.7110.83
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 4,518.3 0.27 5,964.2-24.24
13 Lac; gums, resins and other vegetable saps and extracts 542.4 0.03 183.2196.04
14 Vegetable plaiting materials; vegetable products not elsewhere specified or included 0.0 0.00 33.5-100.00
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 3,161.8 0.19 3,430.5-7.83
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 6,243.7 0.37 6,565.9-4.91
17 Sugars and sugar confectionery 1,227.1 0.07 2,830.0-56.64
18 Cocoa and cocoa preparations 5,467.9 0.33 8,365.0-34.63
19 Preparations of cereals, flour, starch or milk; bakers’ wares 10,793.4 0.65 10,667.21.18
20 Preparations of vegetables, fruit, nuts or other parts of plants 13,572.3 0.81 12,835.05.74
21 Miscellaneous edible preparations 18,443.4 1.11 22,514.9-18.08
22 Beverages, spirits and vinegar 75,683.3 4.54 64,817.816.76
23 Residues and waste from the food industries; prepared animal feed 24,354.7 1.46 30,102.6-19.09
24 Tobacco and manufactured tobacco substitutes 713.8 0.04 1,372.4-47.99
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 911.3 0.05 1,039.9-12.36
26 Ores, slag and ash 22.8 0.00 157.1-85.50
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 658,973.0 39.51 523,207.425.95
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 1,551.8 0.09 1,097.541.39
29 Organic chemicals 4,864.2 0.29 3,687.531.91
30 Pharmaceutical products 17,987.0 1.08 20,205.4-10.98
31 Fertilizers 227.6 0.01 160.042.20
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 10,599.5 0.64 8,810.120.31
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 40,522.8 2.43 40,082.11.10
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 6,200.1 0.37 6,767.7-8.39
35 Albuminoidal substances; modified starches; glues; enzymes 1,352.5 0.08 1,301.33.93
36 Explosives; pyrotechnic products; matches; pyrophoric alloys; certain combustible preparations 318.4 0.02 75.7320.37
37 Photographic or cinematographic goods 1,267.0 0.08 1,024.123.72
38 Miscellaneous chemical products 9,086.5 0.54 9,493.2-4.28
39 Plastics and articles thereof 28,603.2 1.71 27,702.43.25
40 Rubber and articles thereof 7,613.1 0.46 5,414.840.60
41 Raw hides and skins (other than furskins) and leather 69.0 0.00 3.22,072.28
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 9,623.0 0.58 7,292.931.95
43 Furskins and artificial fur; manufactures thereof 2,613.1 0.16 3.087,001.87
44 Wood and articles of wood; wood charcoal 2,753.3 0.17 2,399.114.77
45 Cork and articles of cork 2.6 0.00 0.0
46 Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork 22.1 0.00 9.6130.84
47 Pulp of wood or of other fibrous cellulosic material; waste and scrap of paper or paperboard 179.9 0.01 238.5-24.57
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 8,647.9 0.52 8,510.21.62
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 2,965.9 0.18 3,631.6-18.33
50 Silk 9.3 0.00 0.0
51 Wool, fine or coarse animal hair; horsehair yarn and woven fabric 275.4 0.02 173.358.90
52 Cotton 94.9 0.01 75.825.19
53 Other vegetable textile fibers; paper yarn and woven fabric of paper yarn 21.9 0.00 0.0
54 Man-made filaments 446.9 0.03 180.5147.66
55 Man-made staple fibers 107.8 0.01 96.911.31
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 713.7 0.04 585.921.81
57 Carpets and other textile floor coverings 614.1 0.04 687.3-10.64
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 25.2 0.00 154.6-83.73
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 864.3 0.05 421.5105.08
60 Knitted or crocheted fabrics 66.6 0.00 68.5-2.67
61 Articles of apparel and clothing accessories, knitted or crocheted 4,403.5 0.26 4,188.55.13
62 Articles of apparel and clothing accessories, not knitted or crocheted 5,614.9 0.34 6,603.0-14.96
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 4,554.3 0.27 4,360.84.44
64 Footwear, gaiters and the like; parts of such articles 2,942.2 0.18 4,463.4-34.08
65 Headgear and parts thereof 539.1 0.03 442.121.93
66 Umbrellas, sun umbrellas, walking sticks, seatsticks, whips, riding-crops and parts thereof 41.9 0.00 112.9-62.92
67 Prepared feathers and down and articles made of feathers or of down; artificial flowers; articles of human hair 203.0 0.01 330.7-38.61
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 5,969.6 0.36 4,201.642.08
69 Ceramic products 702.0 0.04 1,416.8-50.46
70 Glass and glassware 1,309.2 0.08 1,989.0-34.18
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 13,860.3 0.83 12,348.312.24
72 Iron and steel 1,219.6 0.07 860.341.77
73 Articles of iron or steel 9,465.1 0.57 9,682.0-2.24
74 Copper and articles thereof 248.8 0.01 570.3-56.37
75 Nickel and articles thereof 17.9 0.00 15.714.11
76 Aluminum and articles thereof 9,023.5 0.54 7,423.021.56
78 Lead and articles thereof 0.0 0.00 18.7-100.00
79 Zinc and articles thereof 93.9 0.01 63.348.39
80 Tin and articles thereof 25.9 0.00 75.1-65.56
81 Other base metals; cermets; articles thereof 281.9 0.02 261.17.94
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 3,850.0 0.23 3,961.2-2.81
83 Miscellaneous articles of base metal 2,081.2 0.12 2,062.70.90
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 144,028.1 8.64 130,767.110.14
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 104,468.9 6.26 107,237.5-2.58
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 354.5 0.02 389.8-9.07
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 73,507.6 4.41 52,956.638.81
88 Aircraft, spacecraft, and parts thereof 53,233.1 3.19 34,519.554.21
89 Ships, boats and floating structures 3,649.1 0.22 2,272.860.56
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 35,695.1 2.14 39,123.1-8.76
91 Clocks and watches and parts thereof 3,037.9 0.18 3,991.1-23.88
92 Musical instruments; parts and accessories of such articles 302.8 0.02 103.9191.52
93 Arms and ammunition; parts and accessories thereof 467.3 0.03 270.672.69
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 12,998.2 0.78 17,867.4-27.25
95 Toys, games and sports requisites; parts and accessories thereof 20,700.5 1.24 28,831.9-28.20
96 Miscellaneous manufactured articles 5,227.6 0.31 5,974.7-12.51
97 Works of art, collectors’ pieces and antiques 393.9 0.02 278.541.41
99 Commodities not specified according to kind 71,967.5 4.31 57,178.025.87

US Imports from Panama

The major share of US imports from Panama in the 4th quarter of 2017 (and in the 4th quarter of 2016) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 30.03% of US total imports from Panama (33.12% in the 4th quarter of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 7.82% of US total imports from Panama (4.11% in the 4th quarter of 2016);
  • Precious metals and stones (HS code 71) - 7.44% of US total imports from Panama (5.17% in the 4th quarter of 2016);
  • Metals and products from them (HS codes 72-83) - 5.05% of US total imports from Panama (2.65% in the 4th quarter of 2016);
  • Chemical products (HS codes 28-40) - 2.57% of US total imports from Panama (3.73% in the 4th quarter of 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.20% of US total imports from Panama (1.27% in the 4th quarter of 2016).

The largest gains in US imports from Panama in the 4th quarter of 2017 over the 4th quarter of 2016 were recorded for the following product groups:

  • 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 $2.4 million;
  • Copper and articles thereof (HS code 74) - an increase of $2.3 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) - an increase of $2.2 million;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $0.9 million;
  • Lead and articles thereof (HS code 78) - an increase of $0.7 million;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - 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 $0.3 million.

The largest declines in US imports from Panama in the 4th quarter of 2017 over the 4th quarter of 2016 were recorded for the following product groups:

  • Commodities not specified according to kind (HS code 99) - a decrease of $4.9 million;
  • Beverages, spirits and vinegar (HS code 22) - a decrease of $1.4 million;
  • Edible fruit and nuts; peel of citrus fruit or melons (HS code 08) - a decrease of $1.0 million;
  • Edible vegetables and certain roots and tubers (HS code 07) - a decrease of $0.9 million;
  • Essential oils and resinoids; perfumery, cosmetic or toilet preparations (HS code 33) - a decrease of $0.8 million;
  • Aluminum and articles thereof (HS code 76) - a decrease of $0.7 million;
  • Sugars and sugar confectionery (HS code 17) - a decrease of $0.6 million;
  • Pharmaceutical products (HS code 30) - a decrease of $0.6 million;
  • Coffee, tea, maté and spices (HS code 09) - a decrease of $0.5 million;
  • Works of art, collectors’ pieces and antiques (HS code 97) - a decrease of $0.4 million;
  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $0.4 million;
  • Articles of apparel and clothing accessories, not knitted or crocheted (HS code 62) - a decrease of $0.4 million.
US imports from Panama in the 4th quarter of 2017 by product groups
HS
code
Name of product group Value
of imports
in Q4 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in Q4 2016
(USD thousand)
Change
in Q4 2017
over Q4 2016
(%)
01 Live animals 36.5 0.04 74.3-50.85
03 Fish and crustaceans, molluscs and other aquatic invertebrates 23,891.1 23.19 24,286.5-1.63
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 9.1 0.01 8.75.15
07 Edible vegetables and certain roots and tubers 328.2 0.32 1,244.5-73.63
08 Edible fruit and nuts; peel of citrus fruit or melons 943.3 0.92 1,991.1-52.62
09 Coffee, tea, maté and spices 93.9 0.09 621.4-84.89
11 Products of the milling industry; malt; starches; inulin; wheat gluten 15.2 0.01 20.2-24.77
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 16.2 0.02 13.421.32
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 1,602.9 1.56 1,254.227.81
17 Sugars and sugar confectionery 1,029.0 1.00 1,666.5-38.25
19 Preparations of cereals, flour, starch or milk; bakers’ wares 13.1 0.01 31.7-58.72
20 Preparations of vegetables, fruit, nuts or other parts of plants 333.4 0.32 37.3794.59
21 Miscellaneous edible preparations 62.5 0.06 33.387.85
22 Beverages, spirits and vinegar 1,045.0 1.01 2,436.6-57.11
23 Residues and waste from the food industries; prepared animal feed 1,289.3 1.25 1,230.04.83
24 Tobacco and manufactured tobacco substitutes 223.3 0.22 83.7166.66
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 11.2 0.01 14.1-20.58
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 6.0 0.01 142.5-95.79
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 0.0 0.00 8.1-100.00
29 Organic chemicals 66.0 0.06 36.083.25
30 Pharmaceutical products 0.0 0.00 551.7-100.00
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 22.4 0.02 13.665.20
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 628.8 0.61 1,442.4-56.41
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 70.2 0.07 31.5123.03
38 Miscellaneous chemical products 167.9 0.16 32.1423.73
39 Plastics and articles thereof 1,592.7 1.55 1,709.8-6.85
40 Rubber and articles thereof 100.5 0.10 118.0-14.82
41 Raw hides and skins (other than furskins) and leather 0.0 0.00 4.0-100.00
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 81.0 0.08 54.947.59
44 Wood and articles of wood; wood charcoal 155.5 0.15 166.2-6.48
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 64.1 0.06 126.5-49.35
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 9.1 0.01 50.9-82.08
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 0.3 0.00 0.310.36
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 678.2 0.66 583.116.30
61 Articles of apparel and clothing accessories, knitted or crocheted 157.6 0.15 76.4106.22
62 Articles of apparel and clothing accessories, not knitted or crocheted 315.6 0.31 669.6-52.87
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 2.9 0.00 3.1-6.99
64 Footwear, gaiters and the like; parts of such articles 82.8 0.08 5.91,297.35
65 Headgear and parts thereof 1.8 0.00 0.0
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 0.0 0.00 5.4-100.00
69 Ceramic products 61.6 0.06 122.7-49.83
70 Glass and glassware 362.8 0.35 70.3416.38
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 7,667.0 7.44 5,463.440.33
72 Iron and steel 14.7 0.01 88.8-83.44
73 Articles of iron or steel 80.8 0.08 111.8-27.73
74 Copper and articles thereof 3,009.8 2.92 689.7336.39
75 Nickel and articles thereof 44.1 0.04 0.0
76 Aluminum and articles thereof 1,250.4 1.21 1,910.4-34.54
78 Lead and articles thereof 726.4 0.71 0.0
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 62.3 0.06 0.0
83 Miscellaneous articles of base metal 12.4 0.01 3.3273.16
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 2,102.4 2.04 1,641.928.05
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 4,722.1 4.58 2,323.1103.26
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 71.7-100.00
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 62.0 0.06 2.92,045.97
88 Aircraft, spacecraft, and parts thereof 9.2 0.01 0.0
89 Ships, boats and floating structures 0.0 0.00 9.8-100.00
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 1,161.4 1.13 293.9295.10
91 Clocks and watches and parts thereof 10.5 0.01 3.9167.13
92 Musical instruments; parts and accessories of such articles 0.0 0.00 40.5-100.00
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 74.7 0.07 362.2-79.39
95 Toys, games and sports requisites; parts and accessories thereof 7.0 0.01 6.016.31
96 Miscellaneous manufactured articles 194.1 0.19 112.572.50
97 Works of art, collectors’ pieces and antiques 92.4 0.09 495.7-81.37
99 Commodities not specified according to kind 46,142.3 44.79 51,066.9-9.64
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce