Panama’s trade deficit narrowed to PAB 963.8 million in December 2019 from PAB 1091.2 million in the same of the previous year. Exports jumped 18.5 percent over a year earlier to PAB 48.0 million, driven by higher sales of banana (6.8 percent); fish oil & flour (303.5 percent); meat (319.1 percent); and shrimp (6.2 percent). Imports declined 10.6 percent to PAB 1011.8 million, mainly due to lower purchases of consumption goods (-3.1 percent), in particular non-durable products (-4.2 percent), semi-durable (-2.6 percent), and fuels & lubricants (-2.1 percent); intermediate (-15.5 percent), namely raw materials & industrial intermediate goods (-9.5 percent) and construction materials (-34 percent); and capital (-19.9 percent), of which construction (-28.8 percent) and other capital goods (-3.8 percent). Considering full 2019, the country’s trade gap widened to USD 12123.1 million from USD 12560.7 million in 2018.
Balance of Trade in Panama averaged -724039.85 PAB Thousand from 2003 until 2019, reaching an all time high of -164179 PAB Thousand in February of 2005 and a record low of -1274303 PAB Thousand in October of 2014. This page provides - Panama Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Instituto Nacional de Estadística y Censo - Panamá
Balance of Trade in Panama is expected to be -1011600.00 PAB Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Panama to stand at -1035000.00 in 12 months time. In the long-term, the Panama Balance of Trade is projected to trend around -1035000.00 PAB Thousand in 2021 and -1114000.00 PAB Thousand in 2022, according to our econometric models.