The United States-Panama Trade Promotion Agreement (TPA) was signed on June 28, 2007. Panama approved the TPA on July 11, 2007. The TPA was signed into law in the United States on October 21, 2011, and entered into force in both countries on October 31, 2012.
U.S.-Panama Trade Facts
Panama is currently our 52nd largest goods trading partner with $8.6 billion in total (two way) goods trade during 2011. Goods exports totaled $8.2 billion; Goods imports totaled $389 million. The U.S. goods trade surplus with Panama was $7.9 billion in 2011.
Panama was the United States= 32nd largest goods export market in 2011.
U.S. goods exports to Panama in 2011 were $8.2 billion, up 36.0% ($2.2 billion) from 2010, and up 413% from 2000.
The top export categories (2-digit HS) in 2011 were: Mineral Fuel (oil) ($4.0 billion), Machinery ($624 million), Aircraft ($517 million), Electrical Machinery ($478 million), and Special Other (low value shipments) ($340 million).
U.S. exports of agricultural products to Panama totaled $494 million in 2011. Leading categories include: coarse grains ($89 million), wheat ($47 million), and snack foods ($46 million).
Panama was the United States= 101st largest supplier of goods imports in 2011.
U.S. goods imports from Panama totaled $389 million in 2011, a 2.1% increase ($8 million) from 2010, and up 27% from 2000.
The five largest import categories in 2011 were: Special Other (Returns) ($127 million), Fish and Seafood ($80 million), Precious Stones (Gold) ($64 million), Sugars (Cane) ($38 million), and Edible Fruits and Nuts (bananas, pineapples) ($20 million).
U.S. imports of agricultural products from Panama totaled $72 million in 2011. Leading categories include: raw beet and cane sugar ($38 million), and bananas and plantains ($12 million).
The U.S. goods trade surplus with Panama was $7.9 billion in 2011, a 38.3% increase ($2.2 billion) over 2010.
U.S. foreign direct investment (FDI) in Panama (stock) was $5.7 billion in 2011, up 2.3% from 2010.
Reported U.S. direct investment in Panama is led by finance/insurance, mining, and wholesale trade sectors.
Panama FDI in the United States (stock) was $1.1 billion in 2011, up 15.3% from 2010.
Reported Panama’s FDI in the U.S. is led by the real estate and manufacturing sectors.