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Panama

Panama ranked No. 51 in total trade value through June with a total of $4.07 billion. Exports totaled $3.86 billion and Imports totaled $209.37 million, a surplus of $3.65 billion.

January – June 2019

Top Trading Ports

Total Trade: $4.07 billion

RankPortTotal YTD
1Port of Pascagoula, Miss. $511,343,677
2Port of Houston $425,688,044
3Port of Beaumont, Texas $387,200,538
4Port Everglades, Fla. $352,930,041
5Miami International Airport $318,530,090
6Port of Freeport, Texas $292,485,758
7Port Miami $267,915,004
8Port of New Orleans $153,021,931
9Low-Valued Imports and Exports $144,724,928
10Seattle-Tacoma International Airport $102,195,146

U.S. trade with Panama rose to $4.07 billion through June

Panama’s trade with the United States rose to $4.07 billion through the first six months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 13 percent above its total trade during the same time period last year. Panama’s exports increased 15.41 percent while imports fell 18.42 percent. The U.S. surplus with Panama was $3.65 billion.

Through June, 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 of Beaumont, Texas; No. 4 Port Everglades, Fla.; and No. 5 Miami International Airport. During the same period the previous year, the top five 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. In the current time period, the top five accounted for 49.01 percent of Panama’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Pascagoula, Miss. fell 12.33 percent to $511.34 million.
    Exports fell 12.33 percent to $511.34 million. There were no imports.
  • Trade with No. 2 Port of Houston rose 9.77 percent to $425.69 million.
    Exports rose 8.53 percent to $417.67 million. Imports rose 172.26 percent to $8.01 million.
  • Trade with No. 3 Port of Beaumont, Texas rose 686.31 percent to $387.2 million.
    Exports rose 686.31 percent to $387.2 million. There were no imports.
  • Trade with No. 4 Port Everglades, Fla. rose 2.42 percent to $352.93 million.
    Exports rose 2.37 percent to $342.52 million. Imports rose 4.07 percent to $10.41 million.
  • Trade with No. 5 Miami International Airport fell 0.96 percent to $318.53 million.
    Exports fell 5.06 percent to $244.99 million. Imports rose 15.68 percent to $73.54 million.

Panama ranked No. 51 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 $2.06 trillion, down 0.14 percent compared to the same period last year. The nation’s exports dropped 0.75 percent to $823.61 billion; imports climbed 0.28 percent to $1.24 trillion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $412.15 billion, up compared to the same period of last year when the deficit was $402.47 billion.

The top five U.S. exports to Panama by value through June were the categories of Gasoline, other fuels; Oil; Low value shipments; Civilian aircraft, parts; and Petroleum gases, other gaseous hydrocarbons, respectively. They accounted for 58.8 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; Gold; Cane, beet sugar, solid form; and Misc. engines and motors, parts –– accounted for 67.21 percent of all inbound shipments.

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

  • Gasoline, other fuels fell 7.54 percent compared to last year to $1.25 billion.
  • Oil totaled $638.77 million. The previous year, there were no exports in this category.
  • Low value shipments rose 14.85 percent compared to last year to $144.72 million.
  • Civilian aircraft, parts rose 11.42 percent compared to last year to $142.66 million.
  • Petroleum gases, other gaseous hydrocarbons rose 1400.15 percent compared to last year to $95 million.

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

  • Value added to a returned import rose 2.07 percent compared to last year to $80.18 million.
  • Fish, fresh or chilled fell 16.56 percent compared to last year to $23.18 million.
  • Gold rose 22.75 percent compared to last year to $15.07 million.
  • Cane, beet sugar, solid form fell 24.47 percent compared to last year to $14.79 million.
  • Misc. engines and motors, parts rose 67.7 percent compared to last year to $7.51 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.