IMPORT EXPORT
Panama import Statistics

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's economy is ranked 58th out of the world's most complicated. According to Panama customs data and trade data, Panama ranked 69th out of 226 nations in terms of total imports in 2023. 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 2023. 

According to Panama’s import data, Panama imported goods worth a total of $35.1 billion in 2023. Panama's import of goods in 2023 rose by 17% in comparison to the previous year. Panama’s total GDP is $83.38 billion, and a GDP import share of 95.91%. Panama’s trade activities play a huge role in its trade. Panama is a part of trading blocs such as WTO and CAFTA. According to Panama’s customs data, Organic chemicals are the biggest import of Panama, while China is its biggest import partner. By acquiring Panama's trade data and its significance, businesses can make informed decisions and capitalize on emerging opportunities in the Panamanian market. Let us explore more about the Panama import data along with Panama’s trade activities in 2023.

Panama Customs Import Data | Panama Trade Shipment Data

69

The country has been ranked 69th in global imports, showing a significant position in the international trade landscape.

0.1%

With a mere 0.1% share in global import trade, it becomes evident that its presence in the international import market is fairly on the rise. 

CHINA

China holds a significant role as the largest import partner of the country in terms of goods imports.

ORGANIC CHEMICALS

Organic chemicals are the major and biggest import commodities of the country, playing a vital role in its economy.

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Top 10 Imports of Panama | Panama Import Data by HS Code

Panama, a country strategically located between North and South America, has a thriving import market that sustains its economy. The top 10 imports of the country as per Panama customs data encompass a diverse range of goods, including petroleum oils, vehicles, electronics, machinery, and pharmaceutical products. The top 10 imports of Panama in 2023 according to Panama import data and Panama trade data are:

  • Organic Chemicals (HS code 29): 27.6% ($9.46 billion) 
  • Electrical machinery and equipment (HS code 85): 9.15% ($3.13 billion) 
  • Mineral fuels and oils (HS code 27): 8.52% ($2.92 billion)  
  • Nuclear reactors and machinery (HS code 84): 7.32% ($2.50 billion) 
  • Pharmaceutical products (HS code 30): 6.85% ($2.34 billion) 
  • Vehicles (HS code 87): 4.45% ($1.52 billion) 
  • Articles of apparel and clothing, not knitted (HS code 61): 3.16% ($1.08 billion) 
  • Footwear (HS code 64): 2.99% ($1.02 billion) 
  • Perfumery, cosmetics, and toilet preparations (HS code 33): 2.04% ($699.81 million)  
  • Articles of apparel and clothing, knitted (HS code 61): 1.84% ($631.90 million)
    • Partners

    Top 10 Import Partners of Panama | Panama Import Data by Country

    As for its import partners, Panama's economic ties spread across the globe. China along with The United States holds the leading position as Panama's largest import partner in 2023, followed closely by China. Panama’s top 10 import partners in 2023 according to the Panama import data include:

    Value In Percentage(%)

  • China: 38.9% (13.23 billion US$)
  • USA: 11.9% (4.07 billion US$)
  • Spain: 6.6% (2.26 billion US$)
  • Mexico: 2.8% (971.80 million US$)
  • Colombia: 1.5% (530.50 million US$)
  • Costa Rica: 1.5% (514.08 million US$)
  • Belgium: 1.5% (507.81 million US$)
  • Germany: 1.4% (487.15 million US$)
  • Brazil: 1.3% (454.04 million US$)
  • Japan: 1.3% (445.20 million US$)
    • Sample Data

    What is Panama Customs Data for imports?

    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.

    Panama customs data for imports 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, Panama imported goods worth a total of $35.1 billion in 2023. 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 or shipment data includes several fields, such as HS codes, product descriptions, quantities and prices, port names, and currency values. So, as you can see, we obtain trustworthy data from organizations, shipping businesses, and customs ports. The trade data contains a wide range of fields, such as HS codes, product descriptions, prices, quantities, origin country, importers/exporters names and addresses, destination country, and port names together with currency values. For traders and marketers, this trade data is crucial information that helps them 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 the trade data for your convenience and greater understanding so that you can see what the trade data or customs data looks like as a whole, with complete details.

    Panama Import Data
    ID 108263 DATE 2022-07-27
    DECLARATION NUMBER 2016081833305 RUC (IMPORTER ID) 8-NT-2-20143
    IMPORTER SERVICIO NACIONAL AERONAVAL 2 DIGIT CODE 88
    4 DIGIT CODE 8803 HS CODE 8803300000
    PRODUCT DESCRIPTION AIRCRAFT PARTS QUANTITY 2
    MEASURE UNIT Box NET WEIGHT 0.9
    GROSS WEIGHT 0.9 PACKAGES 2
    US FOB 3410.52 US$FREIGHT 74.03
    US$INSURANCE 51.15 US CIF 3535.7
    CUSTOMS ZONE Zona Aeroportuaria (TOCUMEN) UNLOADING PORT TOCUMEN CARGA
    TRANSPORT TYPE AIR ORIGIN COUNTRY UNITED STATES OF NORTH AMERICA
    Benefits

    Benefits of Panama 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.

    • 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. This information can help businesses make informed decisions about their import/export strategies and track Panama trade activities. 

    Panama import data can be accessed through the TradeImeX website and other various sources, such as government agencies, trade organizations, and online databases. Some popular sources include the Panama Customs Authority, the World Bank, and the United Nations trade database.

    According to recent Panama trade statistics, the top products imported into Panama include organic chemicals, refined petroleum, cars, packaged medicaments, delivery trucks, and broadcasting equipment.

    According to Panama trade records, 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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