Panama recorded a trade deficit of 534038 PAB Thousand in August of 2020. source: Instituto Nacional de Estadística y Censo - Panamá

Balance of Trade in Panama averaged -718906.43 PAB Thousand from 2003 until 2020, reaching an all time high of -164179 PAB Thousand in February of 2005 and a record low of -1274303.28 PAB Thousand in October of 2014. This page provides - Panama Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Panama Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.

Balance of Trade in Panama is expected to be -1085000.00 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 -1085000.00 in 12 months time. In the long-term, the Panama Balance of Trade is projected to trend around -1114000.00 PAB Thousand in 2021, according to our econometric models.

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Panama Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-600667.00 -534038.00 -164179.00 -1274303.28 2003 - 2020 PAB Thousand Monthly
Current Prices, NSA

Calendar GMT Actual Previous Consensus TEForecast
2020-09-01 02:00 PM Jun PAB -466.6M PAB-448.5M PAB -450M
2020-09-16 04:00 PM Jul PAB -504.1M PAB -466.6M
2020-10-16 04:00 PM Aug PAB -534.0M PAB -504.1M
2020-11-18 05:30 PM Sep PAB -600.7M PAB -534.0M PAB -650M
2020-12-15 02:00 PM Oct PAB -600.7M
2021-01-15 10:00 PM Nov
2021-02-12 05:50 PM Dec
2021-06-04 02:00 PM Feb

News Stream
Panama Trade Gap Narrows in December
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.
Panama Trade Deficit Narrows in November
Panama’s trade deficit narrowed to PAB 880.7 million in November 2019 from PAB 1,091 million in the corresponding month of the previous year. Exports jumped 14.4 percent from a year ago to PAB 54.7 million nudged by banana sales (+23.4 percent), while imports dropped for the fourth straight month by 17.9 percent to PAB 935.4 million, dragged by a 28.4 percent plunge in purchases of capital goods.
Panama Trade Gap Narrows in October
Panama’s trade deficit narrowed to PAB 1,104.4 million in October 2019 from PAB 1,212.4 million in the corresponding month of the previous year. Exports jumped 19.1 percent from a year ago to PAB 63.7 million while imports dropped for the fourth straight month by 7.7 percent to PAB 1,168 million.

Panama Balance of Trade
Panama's lack of mineral resources such as crude oil results in a trade deficits on a consistent basis. The imports of mineral products alone are larger than the country's total exports. Panama mainly exports salmon, banana and gold. Panama's major trade partner is the United States (30 percent of the exports and 28 percent of the imports). Others include China and Costa Rica.