Panama's major exports encompass refined petroleum, bananas, fish and seafood, precious metals, scrap metal, medical instruments and devices, processed foods, fruits and vegetables, wood products, and pharmaceuticals. These commodities contribute significantly to Panama's economy, supporting employment and driving economic growth. Panama's closest trading partners vary across industries, with the United States, Costa Rica, and the Netherlands playing crucial roles in its export market.
Refined Petroleum
Refined petroleum products constitute the largest share of Panama's exports. The country has a strategic location for oil transshipment and storage facilities. With an estimated export value of $1.5 billion, Panama's primary trading partners for refined petroleum include the United States, Costa Rica, and Jamaica.
Bananas
Bananas are a significant agricultural export from Panama. The country has fertile land and favorable climatic conditions for banana cultivation. The export volume for bananas is substantial, with an approximate value of $800 million. Panama's closest trading partners for banana exports include the United States, the Netherlands, and Germany.
Fish and Seafood
Panama exports a variety of fish and seafood products, including fresh fish, shrimp, and canned seafood. The export value for fish and seafood is around $600 million. Panama's primary trading partners in this sector include the United States, Spain, and Italy.
Precious Metals (including gold and silver)
Panama exports precious metals, including gold and silver. The country has mining operations that contribute to its export volume. The export value for precious metals is approximately $400 million. Panama's closest trading partners for precious metal exports include Switzerland, the United States, and Canada.
Scrap Metal
Panama exports scrap metal, including iron and steel scraps. The export volume for scrap metal is substantial, with an estimated value of $300 million. Panama's primary trading partners for scrap metal exports include Turkey, China, and India.
Medical Instruments and Devices
Panama exports medical instruments and devices, including surgical equipment and diagnostic tools. The export value for medical instruments is around $250 million. Panama's closest trading partners in this sector include the United States, Mexico, and Colombia.
Processed Foods
Panama exports various processed food products, including beverages, canned goods, and processed fruits and vegetables. The export value for processed foods is approximately $200 million. Panama's primary trading partners for processed food exports include the United States, Costa Rica, and Colombia.
Fruits and Vegetables
Panama exports a range of fresh and processed fruits and vegetables, including pineapples, melons, and tomatoes. The export value for fruits and vegetables is around $150 million. Panama's closest trading partners in this sector include the United States, the Netherlands, and Costa Rica.
Wood Products
Panama exports wood products, including lumber, plywood, and furniture. The export value for wood products is approximately $100 million. Panama's primary trading partners for wood exports include the United States, Costa Rica, and the Dominican Republic.
Pharmaceuticals
Panama exports pharmaceutical products, including medicines and vaccines. The export value for pharmaceuticals is around $80 million. Panama's closest trading partners in this sector include the United States, Colombia, and Costa Rica.
Related Information
