Panama’s trade deficit narrowed to PAB 1036.9 million in July 2019 from PAB 1070.6 million in the corresponding month of the previous year. Exports jumped 35.7 percent over a year earlier to PAB 77.4 million, driven by higher sales of fish oil (213 percent); banana (13.5 percent); coffee (123 percent); wood (60.9 percent) and others (28.7 percent). Imports fell 1.2 percent to PAB 1114.4 million, mainly due to lower purchases of consumption goods (-8.4 percent), namely non-durable (-3.4 percent), semi-durable (-1.4 percent), and fuels & lubricants (-17.9 percent); and capital (-0.7 percent), in particular transport equipment & telecommunication (-1.2 percent), agricultural (-21.5 percent) and other capital goods (-12.3 percent). Balance of Trade in Panama averaged -717911.42 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 -1019000.00 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 -1057700.00 in 12 months time. In the long-term, the Panama Balance of Trade is projected to trend around -1114000.00 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
2019-06-21 02:30 PM Balance of Trade Apr PAB-1092.4M PAB-956.7M PAB -975M
2019-07-19 02:00 PM Balance of Trade May PAB-1038.1M PAB-1092.4M
2019-08-19 04:50 PM Balance of Trade Jun PAB-1006.6M PAB-1038.1M PAB-1060M
2019-09-17 02:50 PM Balance of Trade Jul PAB-1036.9M PAB-1105M PAB-980M
2019-10-16 02:00 PM Balance of Trade Aug PAB-1036.9M PAB-1060M
2019-11-14 10:30 PM Balance of Trade Sep PAB -1019M
2019-12-04 06:00 PM Balance of Trade Oct

Panama Trade Last Previous Highest Lowest Unit
Balance of Trade -1036956.95 -1104990.45 -164179.00 -1274300.00 PAB Thousand [+]
Current Account -1713.40 -1782.00 247.00 -2059.40 PAB Million [+]
Current Account to GDP -8.50 -7.90 14.81 -13.50 percent [+]
Imports 1114362.10 1161410.80 1349156.80 226561.00 PAB Thousand [+]
Exports 77405.13 56420.40 181465.14 40502.29 PAB Thousand [+]
Capital Flows -1323.70 -1129.50 2195.90 -2441.10 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 18.20 1648.30 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 September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-1036956.95 -1104990.45 -164179.00 -1274300.00 2003 - 2019 PAB Thousand Monthly
Current Prices, NSA

Country Last Previous
Argentina 951.00 Jul/19
Australia 7268.00 Jul/19
Brazil 3280.00 Aug/19
Canada -1124.40 Jul/19
China 348.30 Aug/19
Euro Area 24789.70 Jul/19
France -4607.00 Jul/19
Germany 21449.00 Jul/19
India -13450.00 Aug/19
Indonesia 85.10 Aug/19
Italy 7630.87 Jul/19
Japan -136.30 Aug/19
Mexico -1117.00 Jul/19
Netherlands 4127.00 Jul/19
Russia 11224.00 Jul/19
Saudi Arabia 131636.00 Mar/19
Singapore 3787.85 Aug/19
South Africa -2880.82 Jul/19
South Korea 1723.00 Aug/19
Spain -1532700.00 Jun/19
Switzerland 2671.16 Jul/19
Turkey -3191.93 Jul/19
United Kingdom -219.00 Jul/19
United States -53989.00 Jul/19