What is the value of US trade with Panama?
Updated annually
$3.42 billion in imports and $13.9 billion in exports in 2024. That means that the US exported $10.5 billion more to Panama than we imported from it. Benefits of trade can include higher wages and job growth, a wider variety of products available at lower prices, increased productivity, and more efficient resource allocation.
$3.42B
Value of imports from Panama to the US (2024)
$13.9B
Value of exports from the US to Panama (2024)
Exports are goods and services the US sells to other countries. Imports are goods and services the US buys from other countries. Combining the value of imports and exports shows us how much trade happens between the US and other countries.
The Bureau of Economic Analysis (BEA) provides data for 71 of the US' trading partners (though not necessarily the top 71 trading partners). The partners they track accounted for 94.3% of total trade with the US in 2024.
BEA data ranks Panama as the US’ 44th top trading partner: In 2024, the US traded $17.3 billion in goods and services with Panama. Countries with similar trade values include Hungary ($18.4B) and Norway ($17B).
In 2024, the US traded $17.3 billion in goods and services with Panama.
Total trade value (imports + exports) with the US (2024), by select countries
Another way to look at international trade is through trade balance. A nation that imports more than it exports, has a trade deficit. One that exports more than it imports has a trade surplus. Neither is inherently good or bad; trade balance is just a metric that shows the relationship between imports and exports.
The US has had a trade surplus with Panama every year from 1999 through 2024. The 2024 surplus was $10.46 billion, a decrease from 2023's surplus of $10.88 billion.
The trade surplus with Panama increased to $10.5B in 2024.
Annual trade balance with Panama, not adjusted for inflation
In 2024, 82.6% of imports from Panama to the US were services. The largest category was transport (transactions associated with moving people and property from one location to another, like passenger flights and ocean cargo shipping), accounting for $1.45 billion. The top three imports were transport, business services (like R&D, consulting, and tech services), and travel (money leaving the US by Americans spending on things like lodging, meals, transportation, and entertainment abroad). These categories accounted for $2.61 billion of total imports.
The other 17.4% were goods, with food, feeds, and beverages (goods) being the largest goods category. Food, feeds, and beverages accounted for $168 million.
Transport made up 42.4% of US imports from Panama in 2024.
US imports from Panama by category (2024)
In 2024, more US exports to Panama were goods — 75.2%. The largest export was industrial supplies and materials (items used up in the production process, like oil, chemicals, and plastic), which accounted for a value of $5.79 billion. The top three exports were industrial supplies and materials, consumer goods (goods and services purchased by individuals for personal use, like clothing and cellphones), and capital goods (tools used for the production process, like machinery and equipment). These categories accounted for $8.66 billion of exports to Panama.
The other 24.8% were services, with business services being the largest service category. Business services accounted for $876 million.
Industrial supplies and materials made up 41.8% of US exports to Panama in 2024.
US exports to Panama by category (2024)
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
Page sources
USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.
