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 Fact

Panama is currently our 57th largest goods trading partner with $5.3 billion in total (two way) goods trade during 2008. Goods exports totaled $4.9 billion; Goods imports totaled $379 million. The U.S. goods trade surplus with Panama was $4.5 billion in 2008.

Exports

Panama was the United States' 40th largest goods export market in 2008.

U.S. goods exports to Panama in 2008 were $4.9 billion, up 30.7% ($1.1 billion) from 2007, and up 283% from 1994 (the year prior to Uruguay Round).

The top export categories (2-digit HS) in 2008 were: Mineral Fuel (oil) ($1.8 billion), Machinery ($523 million), Electrical Machinery ($329 million), Vehicles (not railway) ($227 million) and Special Other (low value shipments) ($218 million).

U.S. exports of agricultural products to Panama totaled $430 million in 2008. Leading categories include: coarse grains ($91 million), soybean meal ($59 million), and wheat ($42 million).

Imports

Panama was the United States' 97th largest supplier of goods imports in 2008.

U.S. goods imports from Panama totaled $379 million in 2008, a 3.8% increase ($14 million) from 2007, and up 17% over the last 14 years.

The five largest import categories in 2008 were: Fish and Seafood ($97 million), Special Other (Returns) ($95 million), Precious Stones (Gold) ($44 million), Mineral Fuel (oil) ($35 million), and Sugars (Cane) ($16 million)

U.S. imports of agricultural products from Panama totaled $55 million in 2008. Leading categories include: raw beet and cane sugar ($16 million), coffee (unroasted) ($14 million), and fresh fruit (excluding bananas) ($10 million).

Trade Balance

The U.S. goods trade surplus with Panama was $4.5 billion in 2008, a 33.6% increase ($1.1 billion) over 2007.

Investment

U.S. foreign direct investment (FDI) in Panama (stock) was $6.2 billion in 2007, up 32.4% from 2006.

Reported U.S. direct investment in Panama is led by the wholesale trade and finance sectors.

Panama FDI in the United States (stock) was $12.9 billion in 2007, up 5.9% from 2006.