Panama
South & Central America and the Caribbean
Trade in Panama
| Panama was the world’s 84th largest exporter of goods and 49th largest exporter of commercial services in 2022. Export values were $15.28 billion and $15.98 billion USD respectively. Panama’s top export category was Manufactures, followed by Machinery and transport equipment, and Chemicals. In 2022, Panama’s main export destination markets for goods and services trade were to United States, Costa Rica and Colombia. In terms of imports, Panama is the world’s 73rd largest importer of goods and 77th largest importer of commercial services. Import values were $29.25 billion and $5.99 billion USD respectively in 2022. Panama’s top import category was Manufactures, followed by Chemicals and Machinery and transport equipment. Leading import partners were China, United States and Mexico. Panama is part of 18 different Regional Trade Agreements, including Canada – Panama and Central American Common Market (CACM). |
General InformationThis section includes general information on the economy, legal system, official languages and links to additional demographic information. |
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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 InformationThis section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance. |
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Currency |
Panamanian balboa |
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Exchange Rate |
Google Finance Currencies |
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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. |
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Contact InformationThis section includes contact information for business support organizations and national resources. |
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Business Support Organizations |
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Government MSME Agency |
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Copyright Offices |
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Industrial Property Offices |
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SPS Enquiry Points Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements. |
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TBT Enquiry Points Technical Barriers to Trade (TBT) enquiry points are government agencies designated to answer questions about trade requirements. |
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Additional Information |
ePing alert |
Last Reviewed: June, 2024
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