Panama

On June 28, 2007, the United States and Panama signed a trade promotion agreement (TPA). Panama approved the TPA on July 11, 2007. The United States has not yet approved the TPA.

U.S.-Panama Trade Facts

Panama is currently our 53rd largest goods trading partner with $6.4 billion in total (two way) goods trade during 2010. Goods exports totaled $6.1 billion; Goods imports totaled $379 million. The U.S. goods trade surplus with Panama was $5.7 billion in 2010.

Exports

Panama was the United States' 36th largest goods export market in 2010.

U.S. goods exports to Panama in 2010 were $6.1 billion, up 41.4% ($1.8 billion) from 2009, and up 375% from 1994 (the year prior to Uruguay Round).

The top export categories (2-digit HS) in 2010 were: Mineral Fuel (oil) ($2.5 billion), Machinery ($533 million), Electrical Machinery ($427 million), Aircraft ($397 million) and Special Other (low value shipments) ($273 million).

U.S. exports of agricultural products to Panama totaled $445 million in 2010. Leading categories include: coarse grains ($70 million), soybean meal ($58 million), and snack foods ($38 million).

Imports

Panama was the United States' 93rd largest supplier of goods imports in 2010.

U.S. goods imports from Panama totaled $379 million in 2010, a 25.3% increase ($77 million) from 2009, and up 17% over the last 16 years.

The five largest import categories in 2010 were: Special Other (Returns) ($131 million), Fish and Seafood ($85 million), Precious Stones (Gold) ($60 million), and Edible Fruits and Nuts (bananas, pineapples) ($21 million), and Sugars (Cane) ($18 million).

U.S. imports of agricultural products from Panama totaled $53 million in 2010. Leading categories include: raw beet and cane sugar ($18 million), bananas and plantains ($12 million), and fresh fruit (excluding bananas) ($9 million).

Trade Balance

The U.S. goods trade surplus with Panama was $5.7 billion in 2010, a 42.6% increase ($1.7 billion) over 2010.

Investment

U.S. foreign direct investment (FDI) in Panama (stock) was $7.8 billion in 2009 (latest data available), up 25.8% from 2008.

Reported U.S. direct investment in Panama is led by the nonbank holding companies and the banking sectors.

Panama FDI in the United States (stock) was $1.0 billion in 2009 (latest data available), up 27.1% from 2008.

Reported Panama’s FDI in the U.S. is led by the manufacturing and finance/insurance sector.