Panama Import Export Data Complete Profile (1)

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Panama Import Export Data Complete Profile

• Panama is all about importing and exporting
  activities. If you are searching Panama Trade
  Data, then you are at the correct place. If you
  choose this data country-wise, you can collect
  that specific countrys trade statistics or
  facts. If you are looking for this data, no one
  is the best market research platform than USA
  Import Data Company.

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Panama Export Data
Panama Export Data shows Panama is mainly export
oriented and highly dependent on trade, which
represents 83.2 of GDP.

1. Panama Export Data shows Panama is mainly export
   oriented and highly dependent on trade, which
   represents 83.2 of GDP.
2. The country also has the largest trading fleet in
   the world, with 16 of the global fleet carrying
   capacity being registered in Panama. 
3. Panama mainly exports medicaments (14.6),
   oxygen-function amino-compounds (5.6),
   electrical apparatus for line telephony (4.3),
   and perfumes (3.5), while its top imports
   include petroleum oils (8.6), medicaments
   (6.7), motor vehicles (3.9), oxygen-function
   amino-compounds (3.4), and electrical apparatus
   for line telephony (2.7).
4. The free zone of Colón is the second largest free
   zone in the world after Hong Kong, demonstrating
   the countrys openness to foreign trade.

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According to IMF Foreign Trade Forecasts

1. The volume of exports of goods and services
   decreased by 14.7 in 2020 and is expected to
   increase by 17.1 in 2021.
2. The volume of imports of goods and services
   decreased by 17.4 in 2020 and is expected to
   increase by 17.6 in 2021. 
3. The unprecedented fall in volume of imports and
   exports in 2020 was due to the global economic
   crisis following the outbreak of the COVID-19
   pandemic.
4. However, despite an overall decrease in exports
   of goods, Panamanian banana exports grew in 2020

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According to the last available data from WTO

1.  Panama Import Data shows Panama imported USD
   21.4 billion worth of goods and USD 5 billion in
   services in 2019.
2. Over the same period, the country exported USD
   10.5 billion in goods and USD 13.8 million in
   services.
3. when only accounting for goods, Panama had a
   trade deficit of USD 7.8 billion. 
4. However, the country registered an overall trade
   balance (including services) of USD 934 million
   in 2019.
5. However, the trade deficit should improve in
   2020, as imports of goods are expected to
   stabilize.

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Panama- USA Trade Data Relationship

1. The relationship between the United States and
   Panama has historically been positive, despite
   occasional hiccups during the times when the U.S.
   still had control of the Panama Canal.
2. Panama felt that it was being shortchanged
   economically and humiliated politically as a
   result of the one-sided conditions created by the
   1903 HayBunau-Varilla Treaty, which gave the
   United States the right to build the canal and
   administer it while maintaining an enclave in
   perpetuity within Panamanian territory.
3. The U.S  Panama trade data Promotion Agreement,
   which entered into force on Oct. 31, 2012,
   further cemented the strong diplomatic and
   commercial bonds between our two countries.
4. The United States has always been and still is
   Panamas main trading partner.
5. The dollar has circulated freely in the country
   since the time of its independence this has been
   hugely beneficial to Panama, contributing to the
   countrys economic growth and stability.

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Panama- China Trade Data Relationship

1. China Export Data shows Chinas exports to Panama
   mostly comprise light industry products,
   textiles, fuel oil, rubber, computers, and
   communications products, while the countrys
   imports from Panama include fishmeal, scrap
   metal, cement, and leather. 
2. Chinese customs data shows that Chinas trade
   with Panama totaled 6.69 billion in 2017, with
   Chinas exports to Panama reaching 6.63 billion
   and its imports at 62 million, a year-on-year
   increase of 2.8 percent, 2.4 percent, and 67.6
   percent, respectively.
3. This suggests there is substantial room for China
   to increase its imports of Panamanian products.
4. Although Panamas market is relatively small for
   China, building a free trade zone with Panama
   would serve to expand the sources of Chinas
   imports, therefore helping with Chinas trade
   remodeling. 
5. More importantly, the trade deal would provide an
   institutional basis for bilateral trade growth
   and ensure the stable development of bilateral
   relations.

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India Panama Trade Data Relations

1. India-Panama relations are the oldest in the
   Central American region, dating back to the
   middle of the 19th Century when groups of Indians
   came to Panama to work on the construction of
   Panama Railways and later the Panama Canal in the
   early 20th Century. 
2. Panama also has a Resident Mission in New Delhi.
   India enjoys warm and cordial political relations
   with Panama. The diplomatic relations between
   India and Panama were established in 1962 and
   Panama was the first country in Central America
   to establish diplomatic relations with India.
3. Indias exports to Panama registered a hike of
   10.37 and Indias imports from Panama surged
   markedly in 201617. 
4. India Import Data shows the main items India
   imported from Panama include ships, boats, and
   floating structures teak and other wood mineral
   fuels oils and waxes metal scrap and raw
   cashew.
5. The main items of Indias exports to Panama
   consist of automobiles and accessories textiles
   pharmaceuticals articles of iron and steel
   plastic products tobacco products rubber
   products furniture items electrical and
   electronic equipments, etc

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Costa Ricas Exports to Panama Up 66

• The figure makes Panama the fourth largest
  importer of Costa Rican products in the world and
  the first in Central America, followed by
  Guatemala and Nicaragua. In the same period,
  exports to these two countries increased by 15
  and 35 respectively.
• Costa Rica Import Export Data shows the main
  products sold are medicines (14 of total),
  prepared foods (7), power cables (5), plastic
  containers (3) and paints and varnishes (3).
• Chile-Panama Free Trade Agreement (FTA)
• The Chile Import Data shows-Panama Free Trade
  Agreement (FTA) establishes that the Republic of
  Chile granted a tariff reduction on 92 of the
  exports products covered by the Chile-Panama Free
  Trade Agreement and that those export products
  could enter duty free from the first day of the
  Chile-Panama Free Trade Agreement (FTA).
• Panama Import Export Data shows Panama exports to
  Chile are baby foods, plastic products, textiles,
  kitchen products, and copper.

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Conclusion

• This article provides you with some valuable
  insights about how Panama United States, India,
  Costa Rica, China can be beneficial for the
  growth and expansion of the business. What are
  the factors that one should consider while
  assessing import and export data and how it can
  be used to form business trade policies? In my
  opinion, Panama Trade Data can be worthwhile for
  any business looking out from expanding its
  business and strategic decision making. It can
  provide some groundwork and a great understanding
  of the prospective markets and make a business
  move accordingly.
• Export trade enables one to understand the trade
  mechanics, supply chain, market\conditions, and
  market opportunities. Panama importers data aids
  one to know the exact trade conditions in the
  country, the trade policies, goods in demand,
  supply chain, etc. Investing in trade data of
  growing countries such as Panama, Sri Lanka,
  Paraguay, Costa Rica, Argentina, etc. can help
  one to cognize the international demand of local
  goods and services in the market, the speculated
  market size, trade barriers, etc.
• For more details visit A/57, 1st Floor, Om Vihar
  Phase 1, Uttam Nagar Delhi, India.Contact No. -
  919560057267Email-info_at_usaimportdata.com

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