Panama's trade deficit increased to PAB 1091.1 million in November 2018 from PAB 1045.7 million in the same month of the previous year. Imports surged 4.1 percent to PAB 1138.9 million, boosted by purchases of consumption goods (7.8 percent) and intermediate goods (1.9 percent). On the other hand, imports fell for capital goods (-0.9 percent), namely equipment for agriculture (-34.1 percent) and construction (-19.8 percent). Meantime, exports fell 1.3 percent to PAB 47.8 million, mainly dragged down by lower shipments of fish (-17.6 percent); shrimp (-33.1 percent); wood (-38.5 percent); clothing (-62.5 percent); coffee (-43.1 percent) and sugar (-51.7 percent). In contrast, overseas sales jumped for fish oil (93.8 percent) and other sea products (195 percent). Balance of Trade in Panama averaged -704136.80 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
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Calendar GMT Actual Previous Consensus TEForecast
2018-10-16 02:00 PM Balance of Trade PAB -1038.7M PAB -1070.6M PAB -1175M
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
2019-02-19 02:45 PM Balance of Trade PAB-1091.1M PAB -990M
2019-03-15 02:05 PM Balance of Trade
2019-04-23 01:00 PM Balance of Trade

Panama Trade Last Previous Highest Lowest Unit
Balance of Trade -1091080.18 -1212426.86 -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 1138889.00 1265881.00 1349156.80 226561.00 PAB Thousand [+]
Exports 47809.00 53454.00 181465.14 43588.00 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 0.15 0.00 0.66 0.00 [+]
Foreign Direct Investment 1365.90 954.90 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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-1091080.18 -1212426.86 -164179.00 -1274300.00 2003 - 2018 PAB Thousand Monthly
Current Prices, NSA

Country Last Previous
Argentina 979.00 Nov/18
Australia 1925.00 Nov/18
Brazil 6639.00 Dec/18
Canada -2060.10 Nov/18
China 570.60 Dec/18
Euro Area 18967.90 Nov/18
France -5099.00 Nov/18
Germany 20500.00 Nov/18
India -13080.00 Dec/18
Indonesia -1102.00 Dec/18
Italy 3843.00 Nov/18
Japan -737.30 Nov/18
Mexico -2382.00 Nov/18
Netherlands 6983.00 Nov/18
Russia 19697.00 Oct/18
Saudi Arabia 184673.00 Sep/18
Singapore 1943.12 Dec/18
South Africa 3494.40 Nov/18
South Korea 4558.00 Dec/18
Spain -3836500.00 Oct/18
Switzerland 3071.48 Nov/18
Turkey -651.36 Nov/18
United Kingdom -2904.00 Nov/18
United States -55488.00 Oct/18