Panama world map

Trade in Panama

Panama was the world’s 78th largest exporter of goods and 54th largest exporter of commercial services in 2021. Export values were $13.2 and $10.7 billion USD respectively. Panama’s top export category was manufactures, followed by agricultural products, and fuels and mining products. In 2020, Panama’s main export destination markets for goods and services trade were to the United States, Costa Rica and Colombia, with trade representing 74.08 per cent of GDP. In terms of imports, Panama’s import values were $20.6 and $4.2 billion USD respectively in 2021. Panama’s top import category was manufactures, followed by agricultural products and fuels and mining products. Leading import partners were China, the United States and Mexico. Panama is part of 18 different Regional Trade Agreements, such as Canada – Panama, and Central American Common Market (CACM).
Regional Trade Agreements Database

General Information

This section includes general information on the economy, legal system, official languages and links to additional demographic information.

Official Name

Republic of Panama

Abbreviation

PA

Capital

Panama City

WTO Membership Date

6 September 1997

Legal System

civil law system; judicial review of legislative acts in the Supreme Court of Justice

Language

Spanish

Number of Time Zone(s)

1

Additional Information

Financial Information

This section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance.

Currency

Panamanian balboa

Exchange Rate

Google Finance Currencies

GTFP Confirming Banks

Through the IFC's Global Trade Finance Program (GTFP) bank network, local financial institutions can establish working partnerships with a vast number of major international banks in the Program that can broaden access to finance and reduce cash collateral requirements. This extends and complements the capacity of banks to deliver trade finance by providing risk mitigation on a per-transaction basis in challenging markets where trade lines may be limited.
  • Banco Bilbao Vizcaya Argentaria Panama SA - Panama City, Panama - SWIFT: BBVAPAPAXXX

  • Banco Latinamericano de Exportaciones SA - Panama City, Panama - SWIFT: BLAEPAPA

  • Banco Pichincha Panama SA - Panama City, Panama - SWIFT: PICHPAPA

  • Bank of China Panama - Panama City, Panama - SWIFT: BKCHPAPA

Contact Information

This section includes contact information for business support organizations and national resources.

Business Support Organizations

  • National Authority for Export and Investment Promotion

    Trade and investment promotion agency

    [email protected]

Government MSME Agency

  • Banco Nacional de Panamá

  • Comprehensive Credit Programme for the Defence of the Production Sector and Employment

    -

  • Micro, Small and Medium-Sized Enterprise Authority (AMPYME)

  • Ministry of the Economy and Finance

  • National Secretariat of Science, Technology and Innovation (SENACYT)

Copyright Offices

  • National Directorate of Copyright

  • Ministry of Culture

Industrial Property Offices

  • Directorate General of the Industrial Property Registry

  • Ministry of Commerce and Industries (DIGERPI)

SPS Enquiry Points

Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements.
  • Ministerio de Desarrollo Agropecuario

    Dr. Pablo Moreno

    Jefe del Departamento de Trámites de Importación y Exportación

    Dirección de Sanidad Vegetal

    Phone: +(507) 524 2220

    Website: http://www.mida.gob.pa

    Altos de Curundú, calle Manuel E. Melo, Edificio 575, Piso 1

    Apartado postal 0816-01611

    [email protected]
  • Ministerio de Desarrollo Agropecuario
    Ing. Pablo Rodríguez
    Director Nacional
    Dirección Nacional de Sanidad Vegetal
    Phone: +(507) 266 0472
    Website: http://www.mida.gob.pa

    Altos de Curundú, calle Manuel E. Melo, Edificio 575, Piso 1
    Apartado postal 0816-01611

    [email protected]

TBT Enquiry Points

Technical Barriers to Trade (TBT) enquiry points are government agencies designated to answer questions about trade requirements.
  • Dirección General de Normas y Tecnología Industrial (DGNTI)
    Ministerio de Comercio e Industrias
    Phone: +(507) 360 0716; +(507)360 0700; +(507)370 0600
    Website: http://www.mici.gob.pa

    Av. Ricardo J. Alfaro
    Edificio Plaza Edison
    Tercer Piso
    Panama

    [email protected]

Additional Information

ePing alert

Last Reviewed: June, 2023

Businesses & Entrepreneurs

Find a concise overview of key aspects of international trade for micro, small, and medium-sized enterprises with our Businesses & Entrepreneurs Guides.

Policymakers & Researchers

Find a concise overview of key aspects of trade and MSME-related policymaking with our dedicated library of Policymakers & Researchers Guides.

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