Panama is experiencing a promising upward trend in its export sector, reporting a notable 7% increase from January to October 2024 compared to the same period last year. The Ministry of Commerce and Industry (MICI) is optimistic that total export values will surpass $1.25 billion by year-end, reflecting a robust 5% growth from 2023. Eric Dormoi, National Director of Export Promotion at MICI, attributed this success to strategic diversification and the added value of Panamanian products, which have greatly enhanced the country’s trade performance.

 

Bananas continue to be a flagship export, with the United States, the Netherlands, and various Asian nations serving as primary markets. This strong demand showcases Panama’s vital role in the global agricultural trade, reinforcing its position as a key supplier in the industry. Moreover, the industrial and agro-industrial sectors are gaining traction in the Caribbean market, further expanding Panama’s trade opportunities.

 

Ricardo García Salas, president of the Non-Traditional Agro-Exporters Group of Panama (Gantrap), spotlighted watermelon as the leading non-traditional export. Other fruits, such as pineapple and squash, are also on the rise, highlighting the growing diversity of Panama’s agricultural exports. Additionally, crops like melon and papaya are gaining popularity, while ginger and cassava continue to complement Panama’s export portfolio.

 

This upward trajectory in exports not only reflects Panama’s dedication to enhancing its trade relationships but also signals a bright future for its economy, driven by innovation and diversification.

 

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