Panama’s trade deficit narrowed to PAB 1091.2 million in December 2018 from PAB 1118.8 million in the same month a year earlier. Imports fell 3.0 percent year-on-year to PAB 1131.7 million, mostly due to lower purchases of consumption goods (-1.4 percent), namely fuels and lubricants (-7.5 percent) and semi-durable (-9 percent). Also, purchases decreased for capital goods (-5.4 percent), of which transport and equipment (-16.3 percent) and agriculture (-25.4 percent); and intermediate goods (-12.2 percent), mainly raw materials and intermediate products for the industry excluding construction (-8.1 percent). Exports dropped 15.6 percent to PAB 40.5 million, as sales declined for shrimps (-30.3 percent); fish (-55.3 percent); flour and fish oil (-39.2 percent); and waste and scrap of steel, copper and aluminium (-28.9 percent). Considering 2018 as a whole, the country’s trade gap widened to PAB 12560.7 million from PAB 12064.3 million in 2017. Balance of Trade in Panama averaged -706152.82 PAB Thousand from 2003 until 2018, 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 -1018500.00 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 -1000000.00 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
2018-11-14 10:30 PM Balance of Trade PAB -952.4M PAB -1038.7M PAB -1032.5M
2018-12-18 11:00 PM Balance of Trade PAB-1,212.4M PAB -952.4M PAB -1081.9M
2019-01-16 01:20 PM Balance of Trade PAB-1091.1M PAB-1212.4M PAB -1080M
2019-02-18 01:10 PM Balance of Trade PAB-1091.2M PAB-1091.1M PAB -990M
2019-03-15 02:05 PM Balance of Trade PAB-1091.2M
2019-04-23 01:00 PM Balance of Trade
2019-05-17 01:50 PM Balance of Trade

Panama Trade Last Previous Highest Lowest Unit
Balance of Trade -1091213.80 -1091080.18 -164179.00 -1274300.00 PAB Thousand [+]
Current Account -1434.60 -838.20 247.00 -1670.40 PAB Million [+]
Current Account to GDP -6.10 -5.50 14.81 -13.10 percent [+]
Imports 1131716.10 1138889.00 1349156.80 226561.00 PAB Thousand [+]
Exports 40502.29 47809.00 181465.14 40502.29 PAB Thousand [+]
Capital Flows -2791.00 -1716.30 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 February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-1091213.80 -1091080.18 -164179.00 -1274300.00 2003 - 2018 PAB Thousand Monthly
Current Prices, NSA

Country Last Previous
Argentina 1369.00 Dec/18
Australia 3681.00 Dec/18
Brazil 2190.00 Jan/19
Canada -2060.10 Nov/18
China 391.60 Jan/19
Euro Area 16990.70 Dec/18
France -4653.00 Dec/18
Germany 13900.00 Dec/18
India -14730.00 Jan/19
Indonesia -1159.50 Jan/19
Italy 3658.00 Dec/18
Japan -55.29 Dec/18
Mexico 1836.32 Dec/18
Netherlands 3572.00 Dec/18
Russia 18856.00 Dec/18
Saudi Arabia 184673.00 Sep/18
Singapore 2415.21 Jan/19
South Africa 17167.41 Dec/18
South Korea 1336.00 Jan/19
Spain -2568800.00 Nov/18
Switzerland 1388.00 Jan/19
Turkey -2674.41 Dec/18
United Kingdom -3229.00 Dec/18
United States -49313.00 Nov/18