Panama, "the world's 8th largest copper exporter"

 

Panama is an emerging economy. It is currently ranked 78th largest economy. In terms of exports, it is the 112th leading exporter of goods in the world. According to the Panama import export data reports, Panama's total trade stood at $33 billion during the fiscal year 2022. Panama's top trading partners were the USA, China, Japan and South Korea. Panama makes most of its trade in mining products.

As per Panama export data reports, Panama’s total exports were recorded to be $15.5 billion in the fiscal year 2022. It was 16% more compared to the $13 billion in 2021. Panama's majority of the exports came from ores, slag and ash. In which, copper was the top exported product.

Also, Panama is the 8th largest exporter of copper ores. Panama customs data suggests that the country's overall copper exports crossed over $2.8 billion in 2022. China was the leading importer of Panama's copper with 35% share in Panama's overall copper exports. China's total copper imports from Panama were estimated around $1.5 billion in 2022. 

In terms of Panama's copper export share, China was followed by Japan (17%), Spain (12%), South Korea (11%), Germany (7), and India (6%). Other major markets were Brazil, Canada, and Bulgaria. On the other hand, Panama’s overall copper imports were estimated to be around $20K thousand dollars. These imports mostly came from China, Japan and South Korea.

Apart from ores, slag and ash, Pharmaceuticals were the second most exported products having worth over $2 billion with 12% share of Panama's total exports. Electrical Machinery, Equipment were the third most exported products by Panama with 10% share of exports. 

Electronics, Chemicals, footwear, clothing, cosmetics, perfumes, beverages were other most exported products by Panama during the fiscal year 2022. The most favoured destinations for Panama’s total exports were China, Venezuela, Costa Rica, Dominican Republic, Honduras and Japan.

Gainway Metal Recycling Corporation was the top scrap metal exporting company from Panama in 2022. Bering motors, DHL aero expreso, CIBO, Interbahn global, kwinana tech internations, PILSA and Live well pharmaceuticals were the top import export companies from Panama.

As per the Panama import data reports, Panama's overall imports increased from $8 billion in 2020 to $15 billion in 2022. Mineral fuels and oils were the most imported goods by Panama with imports worth over $3.2 Billion in 2022. Vehicle cars and parts were second most imported products with over $755 million worth value. 

Medicines were the third most imported goods followed by petroleum gas, telephones, corn, data processing systems, plastics and its articles. USA and China are the two largest exporters of goods to Panama with over 25% and 11% respectively. Whereas, Mexico, Costa Rica, Colombia, Spain, Japan, Brazil and Guatemala are other popular exporters to Panama. 

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