US trade with Panama in the first nine months of 2017

Published or Updated: May 30, 2018

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

US Trade with Panama

In the first nine months of 2017, US trade with Panama totaled $5,132.1 million, up 3.13% ($155.7 million) from the first nine months of 2016.

US exports to Panama in the first nine months of 2017 totaled $4,777.2 million, up 2.56% ($119.3 million) from the first nine months of 2016.

US imports from Panama in the first nine months of 2017 totaled $354.9 million, up 11.41% ($36.4 million) from the first nine months of 2016.

US trade surplus with Panama in the first nine months of 2017 was $4,422.3 million, a 1.91% increase ($83.0 million) over the first nine months of 2016.

Panama was the US 54th largest trading partner in the first nine months of 2017 (down from 52nd in the first nine months of 2016), accounting for 0.1763% of US total trade (down from 0.1899% in the first nine months of 2016).

Panama was the US 37th largest export market in the first nine months of 2017 (down from 34th in the first nine months of 2016), accounting for 0.4196% of US total exports (down from 0.4404% in the first nine months of 2016).

Panama was the US 91st largest supplier in the first nine months of 2017 (down from 89th in the first nine months of 2016), accounting for 0.0200% of US total imports (down from 0.0204% in the first nine months of 2016).

US Exports to Panama

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

  • Mineral products (HS codes 25-27) - 40.17% of US total exports to Panama (36.62% in the first nine months of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 24.05% of US total exports to Panama (25.79% in the first nine months of 2016);
  • Food products and agricultural raw materials (HS codes 01-24) - 13.86% of US total exports to Panama (13.94% in the first nine months of 2016);
  • Chemical products (HS codes 28-40) - 9.04% of US total exports to Panama (10.62% in the first nine months of 2016);
  • Metals and products from them (HS codes 72-83) - 3.10% of US total exports to Panama (2.67% in the first nine months of 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.34% of US total exports to Panama (1.47% in the first nine months of 2016);
  • Wood and wood products (HS codes 44-49) - 0.97% of US total exports to Panama (1.12% in the first nine months of 2016).

The largest gains in US exports to Panama in the first nine months of 2017 over the first nine months 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 $212.7 million;
  • Articles of iron or steel (HS code 73) - an increase of $45.2 million.

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

  • Aircraft, spacecraft, and parts thereof (HS code 88) - a decrease of $72.7 million;
  • Organic chemicals (HS code 29) - a decrease of $55.2 million.
US exports to Panama in the first nine months of 2017 by product groups
HS
code
Name of product group Value
of exports
in first 9 months 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in first 9 months 2016
(USD thousand)
Change
in first 9 months 2017
over first 9 months 2016
(%)
01 Live animals 5,017.2 0.11 4,570.99.76
02 Meat and edible meat offal 36,129.8 0.76 41,325.3-12.57
03 Fish and crustaceans, molluscs and other aquatic invertebrates 4,360.0 0.09 4,002.28.94
04 Dairy produce; birds eggs; natural honey; edible products of animal origin, not elsewhere specified or included 27,773.2 0.58 24,269.014.44
05 Products of animal origin, not elsewhere specified or included 1,780.3 0.04 1,740.02.32
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 453.3 0.01 465.5-2.63
07 Edible vegetables and certain roots and tubers 12,538.6 0.26 10,000.125.38
08 Edible fruit and nuts; peel of citrus fruit or melons 11,155.7 0.23 11,766.1-5.19
09 Coffee, tea, maté and spices 2,327.0 0.05 3,717.4-37.40
10 Cereals 95,020.3 1.99 90,247.55.29
11 Products of the milling industry; malt; starches; inulin; wheat gluten 1,887.9 0.04 1,910.5-1.18
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 10,805.3 0.23 17,693.2-38.93
13 Lac; gums, resins and other vegetable saps and extracts 781.9 0.02 621.825.76
14 Vegetable plaiting materials; vegetable products not elsewhere specified or included 53.6 0.00 27.992.28
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 11,358.3 0.24 10,977.93.47
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 17,104.9 0.36 16,305.94.90
17 Sugars and sugar confectionery 5,480.9 0.11 7,785.3-29.60
18 Cocoa and cocoa preparations 19,501.6 0.41 18,023.48.20
19 Preparations of cereals, flour, starch or milk; bakers’ wares 26,310.3 0.55 31,819.7-17.31
20 Preparations of vegetables, fruit, nuts or other parts of plants 33,330.0 0.70 31,088.27.21
21 Miscellaneous edible preparations 49,729.3 1.04 51,373.3-3.20
22 Beverages, spirits and vinegar 206,425.5 4.32 197,632.54.45
23 Residues and waste from the food industries; prepared animal feed 71,608.3 1.50 63,980.511.92
24 Tobacco and manufactured tobacco substitutes 11,044.1 0.23 7,731.642.84
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 3,310.6 0.07 2,859.415.78
26 Ores, slag and ash 347.2 0.01 287.420.78
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 1,915,158.7 40.09 1,702,437.112.50
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 4,145.7 0.09 5,023.4-17.47
29 Organic chemicals 38,164.6 0.80 93,353.6-59.12
30 Pharmaceutical products 72,160.8 1.51 62,624.815.23
31 Fertilizers 5,303.1 0.11 1,490.2255.86
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 26,404.8 0.55 28,377.4-6.95
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 114,814.2 2.40 124,586.5-7.84
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 20,567.2 0.43 18,570.110.75
35 Albuminoidal substances; modified starches; glues; enzymes 5,074.0 0.11 5,095.2-0.42
36 Explosives; pyrotechnic products; matches; pyrophoric alloys; certain combustible preparations 1,501.2 0.03 1,018.947.34
37 Photographic or cinematographic goods 3,244.2 0.07 3,778.2-14.13
38 Miscellaneous chemical products 31,580.5 0.66 29,752.66.14
39 Plastics and articles thereof 90,539.6 1.90 89,283.01.41
40 Rubber and articles thereof 18,458.0 0.39 31,629.9-41.64
41 Raw hides and skins (other than furskins) and leather 162.1 0.00 20.8680.15
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 22,099.4 0.46 20,428.78.18
43 Furskins and artificial fur; manufactures thereof 2,863.9 0.06 130.12,100.88
44 Wood and articles of wood; wood charcoal 8,914.7 0.19 12,715.6-29.89
45 Cork and articles of cork 26.4 0.00 19.436.14
46 Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork 83.7 0.00 62.533.89
47 Pulp of wood or of other fibrous cellulosic material; waste and scrap of paper or paperboard 1,108.4 0.02 1,837.6-39.68
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 30,632.5 0.64 30,272.61.19
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 5,697.1 0.12 7,455.1-23.58
50 Silk 52.8 0.00 4.01,216.04
51 Wool, fine or coarse animal hair; horsehair yarn and woven fabric 377.4 0.01 208.680.95
52 Cotton 191.8 0.00 818.7-76.58
53 Other vegetable textile fibers; paper yarn and woven fabric of paper yarn 207.7 0.00 65.1219.02
54 Man-made filaments 884.6 0.02 1,077.4-17.90
55 Man-made staple fibers 339.5 0.01 720.7-52.90
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 2,636.5 0.06 2,109.724.97
57 Carpets and other textile floor coverings 1,788.1 0.04 2,650.3-32.53
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 288.0 0.01 406.5-29.16
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 2,206.9 0.05 1,977.511.61
60 Knitted or crocheted fabrics 232.7 0.00 256.2-9.20
61 Articles of apparel and clothing accessories, knitted or crocheted 12,637.8 0.26 11,638.78.58
62 Articles of apparel and clothing accessories, not knitted or crocheted 15,345.6 0.32 20,026.5-23.37
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 11,332.2 0.24 11,915.4-4.89
64 Footwear, gaiters and the like; parts of such articles 13,046.3 0.27 11,139.117.12
65 Headgear and parts thereof 1,669.9 0.03 1,390.220.12
66 Umbrellas, sun umbrellas, walking sticks, seatsticks, whips, riding-crops and parts thereof 159.7 0.00 217.0-26.39
67 Prepared feathers and down and articles made of feathers or of down; artificial flowers; articles of human hair 535.1 0.01 1,672.6-68.01
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 17,440.3 0.37 13,676.427.52
69 Ceramic products 2,524.0 0.05 2,476.51.92
70 Glass and glassware 4,927.3 0.10 6,426.9-23.33
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 22,929.9 0.48 33,075.5-30.67
72 Iron and steel 2,937.7 0.06 6,887.1-57.34
73 Articles of iron or steel 110,142.2 2.31 64,963.369.55
74 Copper and articles thereof 1,504.9 0.03 2,383.3-36.86
75 Nickel and articles thereof 99.0 0.00 68.744.14
76 Aluminum and articles thereof 13,520.1 0.28 21,746.4-37.83
78 Lead and articles thereof 233.9 0.00 215.18.75
79 Zinc and articles thereof 295.8 0.01 273.98.00
80 Tin and articles thereof 148.6 0.00 40.0271.36
81 Other base metals; cermets; articles thereof 333.2 0.01 4,722.4-92.94
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 12,256.7 0.26 15,134.9-19.02
83 Miscellaneous articles of base metal 6,556.1 0.14 8,147.2-19.53
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 413,169.2 8.65 424,397.8-2.65
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 287,656.6 6.02 287,045.10.21
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 1,821.7 0.04 1,750.34.08
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 191,514.1 4.01 180,021.26.38
88 Aircraft, spacecraft, and parts thereof 121,368.0 2.54 194,099.1-37.47
89 Ships, boats and floating structures 28,479.1 0.60 15,199.687.37
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 105,053.7 2.20 98,594.46.55
91 Clocks and watches and parts thereof 8,618.3 0.18 10,299.6-16.32
92 Musical instruments; parts and accessories of such articles 477.0 0.01 886.6-46.20
93 Arms and ammunition; parts and accessories thereof 1,027.7 0.02 1,466.2-29.91
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 32,163.3 0.67 35,808.1-10.18
95 Toys, games and sports requisites; parts and accessories thereof 37,250.6 0.78 37,687.0-1.16
96 Miscellaneous manufactured articles 14,206.8 0.30 14,048.91.12
97 Works of art, collectors’ pieces and antiques 665.0 0.01 725.4-8.32
99 Commodities not specified according to kind 189,630.2 3.97 185,133.52.43

US Imports from Panama

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

  • Food products and agricultural raw materials (HS codes 01-24) - 33.37% of US total imports from Panama (40.36% in the first nine months of 2016);
  • Precious metals and stones (HS code 71) - 7.34% of US total imports from Panama (7.97% in the first nine months of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 6.39% of US total imports from Panama (5.99% in the first nine months of 2016);
  • Metals and products from them (HS codes 72-83) - 4.31% of US total imports from Panama (2.97% in the first nine months of 2016);
  • Chemical products (HS codes 28-40) - 3.01% of US total imports from Panama (3.22% in the first nine months of 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.36% of US total imports from Panama (0.95% in the first nine months of 2016).

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

  • Commodities not specified according to kind (HS code 99) - an increase of $37.0 million;
  • Copper and articles thereof (HS code 74) - an increase of $5.8 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 $4.7 million;
  • Plastics and articles thereof (HS code 39) - an increase of $2.0 million;
  • Articles of apparel and clothing accessories, not knitted or crocheted (HS code 62) - an increase of $1.8 million;
  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $1.2 million.

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

  • Tobacco and manufactured tobacco substitutes (HS code 24) - a decrease of $4.5 million;
  • Sugars and sugar confectionery (HS code 17) - a decrease of $3.2 million;
  • Edible fruit and nuts; peel of citrus fruit or melons (HS code 08) - a decrease of $2.0 million;
  • Edible vegetables and certain roots and tubers (HS code 07) - a decrease of $1.7 million;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $1.3 million;
  • Beverages, spirits and vinegar (HS code 22) - 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 $1.2 million.
US imports from Panama in the first nine months of 2017 by product groups
HS
code
Name of product group Value
of imports
in first 9 months 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in first 9 months 2016
(USD thousand)
Change
in first 9 months 2017
over first 9 months 2016
(%)
01 Live animals 24.6 0.01 11.7109.80
03 Fish and crustaceans, molluscs and other aquatic invertebrates 71,888.4 20.26 70,647.21.76
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 5.6 0.00 22.8-75.37
07 Edible vegetables and certain roots and tubers 470.4 0.13 2,194.9-78.57
08 Edible fruit and nuts; peel of citrus fruit or melons 4,052.1 1.14 6,014.7-32.63
09 Coffee, tea, maté and spices 6,381.3 1.80 6,650.2-4.04
10 Cereals 0.0 0.00 9.1-100.00
11 Products of the milling industry; malt; starches; inulin; wheat gluten 66.3 0.02 0.0
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 217.7 0.06 182.919.04
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 4,512.6 1.27 4,819.6-6.37
17 Sugars and sugar confectionery 23,889.8 6.73 27,057.4-11.71
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 779.1 0.22 78.8888.38
21 Miscellaneous edible preparations 611.3 0.17 187.5226.10
22 Beverages, spirits and vinegar 1,947.7 0.55 3,200.0-39.13
23 Residues and waste from the food industries; prepared animal feed 3,432.4 0.97 2,659.529.06
24 Tobacco and manufactured tobacco substitutes 93.0 0.03 4,607.3-97.98
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 43.0 0.01 1,387.7-96.90
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 53.1 0.01 90.0-41.00
30 Pharmaceutical products 328.3 0.09 548.4-40.14
31 Fertilizers 0.0 0.00 111.8-100.00
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 29.4 0.01 253.5-88.39
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 3,140.3 0.88 3,277.3-4.18
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 0.02 174.1-65.33
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 298.9 0.08 173.472.41
39 Plastics and articles thereof 6,664.3 1.88 4,694.841.95
40 Rubber and articles thereof 97.9 0.03 784.6-87.53
41 Raw hides and skins (other than furskins) and leather 11.6 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) 42.9 0.01 127.4-66.36
44 Wood and articles of wood; wood charcoal 278.2 0.08 329.7-15.62
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 191.2 0.05 300.7-36.42
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 114.8 0.03 670.3-82.88
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 5.0 0.00 0.5846.10
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 2,512.9 0.71 2,142.917.26
60 Knitted or crocheted fabrics 0.6 0.00 5.9-89.81
61 Articles of apparel and clothing accessories, knitted or crocheted 101.3 0.03 283.7-64.29
62 Articles of apparel and clothing accessories, not knitted or crocheted 2,081.4 0.59 286.0627.72
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 19.9 0.01 88.5-77.57
64 Footwear, gaiters and the like; parts of such articles 74.0 0.02 57.129.67
65 Headgear and parts thereof 13.4 0.00 8.262.07
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 0.0 0.00 452.2-100.00
69 Ceramic products 155.7 0.04 192.7-19.18
70 Glass and glassware 311.4 0.09 409.3-23.93
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 26,048.8 7.34 25,373.52.66
72 Iron and steel 233.6 0.07 804.6-70.96
73 Articles of iron or steel 280.7 0.08 280.10.24
74 Copper and articles thereof 6,722.3 1.89 899.8647.06
76 Aluminum and articles thereof 6,296.0 1.77 5,942.55.95
78 Lead and articles thereof 1,675.5 0.47 879.590.51
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 54.4 0.02 550.1-90.11
83 Miscellaneous articles of base metal 21.1 0.01 91.5-76.93
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 5,516.4 1.55 5,786.2-4.66
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 14,905.5 4.20 10,209.945.99
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 7.3-100.00
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 462.7 0.13 213.5116.73
88 Aircraft, spacecraft, and parts thereof 5.1 0.00 0.0
89 Ships, boats and floating structures 146.4 0.04 20.8603.83
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 1,655.0 0.47 2,838.4-41.69
91 Clocks and watches and parts thereof 17.9 0.01 201.5-91.10
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 155.8 0.04 366.6-57.49
95 Toys, games and sports requisites; parts and accessories thereof 34.3 0.01 65.3-47.51
96 Miscellaneous manufactured articles 254.2 0.07 432.0-41.17
97 Works of art, collectors’ pieces and antiques 956.8 0.27 437.7118.61
99 Commodities not specified according to kind 154,375.6 43.50 117,408.931.49
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce