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.
Panama Trade Summary
U.S. goods and services (exports plus imports) trade with Panama totaled an estimated $15.4 billion in 2025, down 8.4 percent ($1.4 billion) from 2024.
U.S. goods trade (exports plus imports) with Panama totaled an estimated $9.6 billion in 2025. U.S. goods exports to Panama in 2025 were $8.9 billion, down 16.5 percent ($1.8 billion) from 2024. U.S. goods imports from Panama totaled $659.5 million in 2025, up 19.3 percent ($106.6 million) from 2024. The U.S. goods trade surplus with Panama was $8.3 billion in 2025, an 18.4 percent decrease ($1.9 billion) over 2024.
U.S. services trade (exports plus imports) with Panama totaled an estimated $5.8 billion in 2025. U.S. services exports to Panama in 2025 were $3.8 billion, up 8.8 percent ($305.0 million) from 2024. U.S. services imports from Panama in 2025 were $2.1 billion, down 3.1 percent ($66.0 million) from 2024. The U.S. services trade surplus with Panama was $1.7 billion in 2025, a 27.8 percent increase ($371.0 million) over 2024.
