Panama’s trade deficit narrowed to PAB 956.7 million in March 2019 from PAB 1022.6 million in the corresponding month of the previous year. Imports fell 6.6 percent year-on-year to PAB 1017.3 million, mainly due to lower purchases of consumption goods (-11.4 percent), namely non-durable (-10.6 percent), semi-durable (-10.8 percent) and fuels & lubricants (-14.7 percent). Also, imports of intermediate goods dropped (-16.3 percent), of which raw materials and intermediate products for industry (-22.8 percent) and construction materials (-34.1 percent). Meanwhile, purchases increased for capital goods (11.3 percent), boosted by transport & communications (55.8 percent) and other capital goods (9.2 percent). Exports decreased 9.1 percent to PAB 60.7 million, as sales went down for bananas (-5.7 percent); fish (-40.5 percent); shrimps (-82.4 percent); and waste steel, copper & aluminium (-9.6 percent). Balance of Trade in Panama averaged -709460.36 PAB Thousand from 2003 until 2019, reaching an all time high of -164179 PAB Thousand in February of 2005 and a record low of -1274300 PAB Thousand in October of 2014.

Balance of Trade in Panama is expected to be -978000.00 PAB Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Panama to stand at -1011600.00 in 12 months time. In the long-term, the Panama Balance of Trade is projected to trend around -1035000.00 PAB Thousand in 2020, according to our econometric models.

Panama Balance of Trade
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-18 01:10 PM Balance of Trade PAB-1091.2M PAB-1091.1M PAB -990M
2019-03-26 03:00 PM Balance of Trade PAB-1067.7M PAB-1091.2M PAB -1120M
2019-04-17 02:00 PM Balance of Trade PAB-986.2M PAB-1067.7M PAB -985M
2019-05-15 02:50 PM Balance of Trade PAB-956.7M PAB-986.2M PAB -1018.5M
2019-06-21 01:20 PM Balance of Trade PAB-956.7M
2019-08-07 01:00 PM Balance of Trade
2019-08-21 02:45 PM Balance of Trade

Panama Trade Last Previous Highest Lowest Unit
Balance of Trade -956672.00 -986229.84 -164179.00 -1274300.00 PAB Thousand [+]
Current Account -1041.80 -1585.60 247.00 -1670.40 PAB Million [+]
Current Account to GDP -8.50 -7.90 14.81 -13.50 percent [+]
Imports 1017323.00 1038882.90 1349156.80 226561.00 PAB Thousand [+]
Exports 60651.00 52653.09 181465.14 40502.29 PAB Thousand [+]
Capital Flows -920.00 -2791.00 2195.90 -2791.00 PAB Million [+]
Remittances 443.70 426.10 652.00 220.00 USD Million [+]
Terrorism Index 0.08 0.15 0.66 0.00 [+]
Foreign Direct Investment 1343.30 1520.10 1685.10 -306.70 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category

Panama Balance of Trade

Panama's lack of mineral resources such as crude oil results in a trade deficits on a consistent basis. The imports of mineral products alone are larger than the country's total exports. Panama mainly exports salmon, banana and gold. Panama's major trade partner is the United States (30 percent of the exports and 28 percent of the imports). Others include China and Costa Rica. This page provides - Panama Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Panama Balance of Trade - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-956672.00 -986229.84 -164179.00 -1274300.00 2003 - 2019 PAB Thousand Monthly
Current Prices, NSA

Country Last Previous
Argentina 1183.00 Mar/19
Australia 4949.00 Mar/19
Brazil 6060.00 Apr/19
Canada -3211.20 Mar/19
China 138.39 Apr/19
Euro Area 22532.90 Mar/19
France -5324.00 Mar/19
Germany 22683.00 Mar/19
India -15330.00 Apr/19
Indonesia -2501.90 Apr/19
Italy 4625.00 Mar/19
Japan 528.50 Mar/19
Mexico 1429.00 Mar/19
Netherlands 5330.00 Mar/19
Russia 15537.00 Mar/19
Saudi Arabia 180059.00 Dec/18
Singapore 2782.79 Apr/19
South Africa 5004.63 Mar/19
South Korea 4120.00 Apr/19
Spain -2352600.00 Mar/19
Switzerland 2494.00 Mar/19
Turkey -2136.73 Mar/19
United Kingdom -5408.00 Mar/19
United States -50000.00 Mar/19