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Panama

Panama ranked No. 54 in total trade value through October with a total of $6.04 billion. Exports totaled $5.64 billion and Imports totaled $397.41 million, a surplus of $5.24 billion.

January – October 2018

Top Trading Ports

Total Trade: $6.04 billion

RankPortTotal YTD
1Port of Pascagoula, Miss. $909,896,556
2Port of Houston $712,366,829
3Port Everglades, Fla. $596,055,531
4Miami International Airport $547,848,257
5Port Miami $512,083,053
6Port of New Orleans $289,551,465
7Low-Valued Imports and Exports $210,429,482
8Port of Savannah, Ga. $192,724,759
9Seattle-Tacoma International Airport $191,528,244
10Port of New York $164,166,497

U.S. trade with Panama rose to $6.04 billion through October

Panama’s trade with the United States rose to $6.04 billion through the first 10 months of 2018, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 5.7 percent above its total trade during the same time period last year. Panama’s exports increased 5.79 percent while imports rose 4.47 percent. The U.S. surplus with Panama was $5.24 billion.

Through October, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Pascagoula, Miss.; No. 2 Port of Houston; No. 3 Port Everglades, Fla.; No. 4 Miami International Airport; and No. 5 Port Miami. During the same period the previous year, the top five were No. 1 Port of Houston No. 2 Port of Pascagoula, Miss. No. 3 Port Miami No. 4 Miami International Airport and No. 5 Port Everglades, Fla.. In the current time period, the top five accounted for 54.3 percent of Panama’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Pascagoula, Miss. rose 16.52 percent to $909.9 million.
    Exports rose 16.52 percent to $909.9 million. There were no imports.
  • Trade with No. 2 Port of Houston fell 12.72 percent to $712.37 million.
    Exports fell 12.96 percent to $704.87 million. Imports rose 18.04 percent to $7.5 million.
  • Trade with No. 3 Port Everglades, Fla. rose 32.42 percent to $596.06 million.
    Exports rose 38.09 percent to $581.1 million. Imports fell 48.94 percent to $14.96 million.
  • Trade with No. 4 Miami International Airport fell 3.17 percent to $547.85 million.
    Exports fell 2.15 percent to $432.37 million. Imports fell 6.84 percent to $115.47 million.
  • Trade with No. 5 Port Miami fell 20.86 percent to $512.08 million.
    Exports fell 23.09 percent to $439.87 million. Imports fell 3.95 percent to $72.22 million.

Panama ranked No. 54 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 55.

Meanwhile, total U.S. trade with the world increased to $3.51 trillion, up 9.44 percent compared to the same period last year. The nation’s exports climbed 8.95 percent to $1.39 trillion; imports climbed 9.77 percent to $2.12 trillion. The nation’s top five countries so far this year, by value, are China; Canada; Mexico; Japan and Germany. The overall trade deficit was $732.48 billion, up compared to the same period of last year when the deficit was $657.79 billion.

The top five U.S. exports to Panama by value through October were the categories of Gasoline, other fuels; Civilian aircraft, parts; Low value shipments; Rum, gin, vodka, other liquors; and Motor vehicles for transporting people, respectively. They accounted for 52.09 percent of total exports to Panama.

The value of the top five categories of U.S. imports from Panama –– Value added to a returned import; Fish, fresh or chilled; Gasoline, other fuels; Shrimp, other crustaceans; and Cane, beet sugar, solid form –– accounted for 66.4 percent of all inbound shipments.

Looking more closely at U.S. exports to Panama:

  • Gasoline, other fuels rose 12.99 percent compared to last year to $2.17 billion.
  • Civilian aircraft, parts rose 101.5 percent compared to last year to $261.13 million.
  • Low value shipments rose 6.7 percent compared to last year to $210.43 million.
  • Rum, gin, vodka, other liquors fell 0.97 percent compared to last year to $187.65 million.
  • Motor vehicles for transporting people rose 3.32 percent compared to last year to $105.84 million.

Looking more closely at U.S. imports from Panama:

  • Value added to a returned import fell 20.44 percent compared to last year to $132.26 million.
  • Fish, fresh or chilled rose 11.65 percent compared to last year to $48.62 million.
  • Gasoline, other fuels rose 93446 percent compared to last year to $40.1 million.
  • Shrimp, other crustaceans fell 10.07 percent compared to last year to $22.69 million.
  • Cane, beet sugar, solid form fell 14.81 percent compared to last year to $20.2 million.

In the latest annual figures available, Panama recorded $6.89 billion in trade with the United States. At year’s end, its were Miami; Houston; Mobile; New Orleans; and Los Angeles. Total U.S. exports to Panama were $ 6.45 billion and imports from Panama were $442.43 million. The U.S. surplus with Panama was $6 billion.