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Panama import

Panama Import Data

The Republic of Panama is another name for Panama. Panama is a transcontinental country that includes both the northern and central regions of South and North America. Costa Rica, Colombia, the Caribbean Sea, and the Pacific Ocean are the two nations with which the nation has boundaries. Panama imported services valued at about $5.12 billion worldwide. Panama's economy is ranked 58th out of the world's most complicated. According to import data, Panama ranked 62nd out of 226 nations in terms of total imports in 2022. Panama imported goods worth a total of $29.24 billion in 2022. Panama's imports of goods rose by 14.3% in comparison to 2021. In 2022, imports of goods increased by $1.91 billion. Panama import data helps analyze market trends by identifying the most imported products, their source countries, and changes in demand. By understanding consumer preferences, businesses can adjust their business strategies to cater effectively to the local market. Let us into the realm of Panama import data, focusing on the year 2022. By acquiring this import data and its significance, businesses can make informed decisions and capitalize on emerging opportunities in the Panamanian market.

Panama Import Data | Panama Customs Data

68

The country has been ranked 68th in global imports, showing a significant position in the international trade landscape.

0.09%

With a mere 0.09% share in global import trade, it becomes evident that its presence in the international import market is fairly on the rise.

FREE ZONES

Free zones hold a significant role as the largest import partner of the country in terms of goods imports.

PETROLEUM OILS AND WASTE OILS

Petroleum oils and waste oils are the major and biggest import commodities of the country, playing a vital role in its economy.

import

Top 10 Imports of Panama

Panama, a country strategically located between North and South America, has a thriving import market that sustains its economy. The top 10 imports of Panama encompass a diverse range of goods, including petroleum oils, vehicles, electronics, machinery, and pharmaceutical products. The top 10 imports of Panama in 2022 according to its import data are:

  • Petroleum oils and waste oils: 20% ($3.16 billion)
  • Motor cars and other motor vehicles: 4.93% ($751 million)
  • Medicaments: 4.15% ($632 million) 
  • Petroleum gases and other gaseous hydrocarbons: 1.83% ($279 million)
  • Electrical apparatus: 1.35% ($206 million)
  • Maize (corn): 1.32% ($202 million)
  • Food preparations: 1.11% ($170 million)
  • Preparations of a kind used in animal feeding: 1.06% ($161 million)
  • Automatic data processing machines: 1.01% ($154 million) 
  • Articles for the conveyance or packing of goods, stoppers, lids, caps: 0.973% ($148 million)
    • Partners

    Top 10 Import Partners of Panama

    As for its import partners, Panama's economic ties spread across the globe. Free zones along with The United States hold the leading position as Panama's largest import partner in 2022, followed closely by China. Panama’s top 10 import partners in 2022 include:

    Value In Percentage(%)

  • Free Zones: 26% (4.02 billion US$)
  • USA: 24% (3.68 billion US$)
  • China: 10.8% (1.64 billion US$)
  • Mexico: 4.28% (653 million US$)
  • Costa Rica: 3.26% (497 million US$)
  • Colombia: 2.99% (455 million US$)
  • Brazil: 2.21% (336 million US$)
  • Spain: 1.99% (304 million US$)
  • Guatemala: 1.76% (269 million US$)
  • Japan: 1.66% (253 million US$)
    • Sample Data

    What is Panama Import Data?

    We obtain trustworthy data from organizations, shipping businesses, and customs ports. This Trade Data contains a wide range of fields, such as HS codes, product descriptions, prices, quantities, origin country, destination country, and port names together with currency values. For traders and marketers, this trade data is crucial information that helps them to make informed decisions. From the HS codes and product descriptions to the quantity and cost of each product, everything can be obtained through this trade data. We have included a sample of this trade data for your convenience and greater understanding so that you can see what the trade data looks like as a whole, with complete details.

    So, as you can see that in this report, we also include the importers’/exporter's names and address details. In this comprehensive customs database, we ensure that every detail is meticulously recorded, which makes this trade data efficient for businesses worldwide. Panama import data refers to the comprehensive information compiled by customs authorities about imported goods into Panama. It includes details such as product description, quantity, value, country of origin, and import information. This data is collected at every port and border entry point, ensuring transparency, accountability, and compliance with customs regulations. According to Panama's customs data for imports, Panama imported goods worth a total of $15.2 billion in 2022. The information we provide you on import data and shipment data from Panama is highly helpful and informative. All of the information in our database is derived from recently updated shipping bills, invoices, and other crucial transaction documents. We obtain trustworthy data from institutions, other shipping firms, and Panama's customs ports. Panama's import data includes several fields, such as HS codes, product descriptions, quantities and prices, port names, and currency values.

    Benefits

    Benefits of Panama’s Import Data

  • Create prospects from the Panama import market using your ideas.
  • Discover Panama's current product demand.
  • Monitor your rivals and outperform them.
  • Make your marketing strategy based on data.
  • Expand your market presence in Panama.
  • Set future objectives and maximize earnings.
  • You’ll receive the name and address of the importer/exporter in our reports.

    • Frequently Asked Questions!!

    Panama import data refers to the information and statistics on goods and products that are brought into the country from other countries.

    Panama import data is important because it provides valuable insights into the country's trade activities, including the types of goods being imported, their origin, and their value.

    Panama import data can be accessed through the TradeImeX website and other various sources, such as government agencies, trade organizations, and online databases.

    According to recent import data, the top products imported into Panama include refined petroleum, cars, packaged medicaments, delivery trucks, and broadcasting equipment.

    The majority of Panama's imports come from the United States, China, Mexico, and Colombia. Other significant trading partners include Japan, Germany, and Brazil.

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