The strategic location of the nation and the favorable climatic conditions fostering the agricultural sector has made the country an attractive destination for international trade. Due to several government investments in technology and renewable energy, the export portfolio has expanded a bit, reducing the resilience of traditional sectors like agriculture and manufacturing units. The signing of different free trade agreements with other countries worldwide has led the crucial export regions of Panama to get relentless access to lucrative markets without tariff barriers and trade restrictions.

The country long recognized as a crucial exporter of the global market has recorded a recent shift in the annual export valuation from 18 billion US dollars in 2020 to a staggering rate of 22 billion US dollars in 2024. The recent statistics on global trade have reported that the agricultural sector contributes a major share in the overall export revenue, accounting for almost 19% of the total annual export valuation accompanied by other globally sought essentials like textiles, miner essentials, mechanical appliances, and other food products.

The Leading Variants of Goods Exported From Panama in 2024

Panama, with its thriving export industry and well-developed transportation infrastructure, has emerged as a crucial exporter worldwide. The cost-effective pricing strategy has attracted foreign investors via the feasible exchange of goods with fewer trade barriers. According to the Panama Export Data, the top 10 leading variants of goods exported from the nation in 2024 are,

1. Refined Petroleum - The valuation of Refined Petroleum exported from Panama in 2024 - 7.8 billion US dollars.

2. Bananas - The valuation of Bananas exported from Panama in 2024 - 3.5 billion US dollars.

3. Precious Metals - The valuation of Precious Metals exported from Panama in 2024 - 2.2 billion US dollars.

4. Fish Fillets - The valuation of Fish Fillets exported from Panama in 2024 - 1.8 billion US dollars.

5. Scrap Copper - The valuation of Scrap Copper exported from Panama in 2024 - 1.2 billion US dollars.

6. Tropical Fruits - The valuation of Tropical Fruits exported from Panama in 2024 - 1 billion US dollars.

7. Medicine - The valuation of Medicine exported from Panama in 2024 - 900 million US dollars.

8. Cigars - The valuation of Cigars exported from Panama in 2024 - 800 million US dollars.

9. Coffee - The valuation of Coffee exported from Panama in 2024 - 700 million US dollars.

10. Seafood Products - The valuation of Seafood Products exported from Panama in 2024 - 600 million US dollars.

The Leading Export Trade Partners of Panama in 2024

Panama, with its strategic geographical location and proper pricing strategies, has established a stable political and trade relationship with the regions of closer geographical proximity for availing the most potential market deals. According to the Panama Trade Data, the top 10 export trade partners of the nation with which it exchanges most of its domestically produced goods in 2024 are,

1. United States - According to the USA Import Data, the valuation of the goods exported from Panama in 2024 - 6.5 billion US dollars.

Top 5 variants of goods exported

1. Bananas
2. Coffee
3. Seafood
4. Tropical fruits
5. Sugar cane

2. China - According to the China Import Data, the valuation of the goods exported from Panama in 2024 - 2.8 billion US dollars.

Top 5 variants of goods exported

1. Sugar cane
2. Pine oil
3. Scrap metal
4. Petroleum oils
5. Cigars

3. Netherlands - According to the Netherlands Import Data, the valuation of the goods exported from Panama in 2024 - 2.4 billion US dollars.

Top 5 variants of goods exported

1. Clothing and textiles
2. Pharmaceuticals
3. Precious stones and metals
4. Wood and paper products
5. Cement

4. Costa Rica - According to the Costa Rica Import Data, the valuation of the goods exported from Panama in 2024 - 1.5 billion US dollars.

Top 5 variants of goods exported

1. Lobsters
2. Cacao Beans
3. Shark Meat
4. Akoya Pearls
5. Pineapples

5. Japan - According to the Japan Import Data, the valuation of the goods exported from Panama in 2024 - 1 billion US dollars.

Top 5 variants of goods exported

1. Pineapples
2. Shrimp
3. Melons
4. Palm oil
5. Seafood products

6. Germany - According to the Germany Import Data, the valuation of the goods exported from Panama in 2024 - 870 million US dollars.

Top 5 variants of goods exported

1. Petroleum
2. Precious metals
3. Copper ore
4. Scrap metal
5. Medical equipment and supplies

7. South Korea - According to the South Korea Import Data, the valuation of the goods exported from Panama in 2024 - 620 million US dollars.

Top 5 variants of goods exported

1. Pharmaceuticals
2. Grapefruits
3. Sugar cane
4. Soap products
5. Watermelons

8. Spain - According to the Spain Import Data, the valuation of the goods exported from Panama in 2024 - 450 million US dollars.

Top 5 variants of goods exported

1. Paintings
2. Dairy products
3. Beans
4. Textiles
5. Yucca

9. Guatemala - According to the Guatemala Import Data, the valuation of the goods exported from Panama in 2024 - 345 million US dollars.

Top 5 variants of goods exported

1. Natural juices
2. Sweeteners
3. Mushrooms
4. Honey
5. Bird feathers

10. India - According to the India Import Data, the valuation of the goods exported from Panama in 2024 - 287 million US dollars.

Top 5 variants of goods exported

1. Modern electronic
2. Chocolate products
3. Sugar cane
4. Electrical machinery
5. Garments

FAQ'S

Que. What is the top export variant of Panama in 2024?
Ans. Refined petroleum is the top export variant of Panama in 2024.

Que. What is the top export trade partner of Panama in 2024?
Ans. The United States is the top export trade partner of Panama in 2024.

Que. What is the export trade value of Panama in 2024?
Ans. The export trade value of Panama in 2024 is 22 billion US dollars.

Que. Where can you get a detailed trade analysis of the export market of Panama in 2024?
Ans. By subscribing to Import Globals, you can get a detailed trade analysis of the export market of Panama in 2024.

www.importglobals.com ; info@importglobals.com