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Panama

Panama ranked No. 51 in total trade value through May with a total of $3.43 billion. Exports totaled $3.25 billion and Imports totaled $174.38 million, a surplus of $3.08 billion.

January – May 2019

Top Trading Ports

Total Trade: $3.43 billion

RankPortTotal YTD
1Port of Pascagoula, Miss. $431,587,803
2Port of Beaumont, Texas $387,200,538
3Port of Houston $385,814,023
4Port Everglades, Fla. $295,681,169
5Miami International Airport $257,874,819
6Port Miami $226,775,664
7Port of Freeport, Texas $191,055,095
8Low-Valued Imports and Exports $122,698,102
9Port of New Orleans $121,856,368
10Seattle-Tacoma International Airport $102,150,936

U.S. trade with Panama rose to $3.43 billion through May

Panama’s trade with the United States rose to $3.43 billion through the first five months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 14.49 percent above its total trade during the same time period last year. U.S. exports to Panama increased 16.94 percent while U.S. imports from Panama fell 17.63 percent. The U.S. surplus with Panama was $3.08 billion.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Pascagoula, Miss.; No. 2 Port of Beaumont, Texas; No. 3 Port of Houston; 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 51.32 percent of Panama’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Pascagoula, Miss. fell 9.79 percent to $431.59 million.
    Exports fell 9.79 percent to $431.59 million. There were no imports.
  • Trade with No. 2 Port of Beaumont, Texas rose 724.15 percent to $387.2 million.
    Exports rose 724.15 percent to $387.2 million. There were no imports.
  • Trade with No. 3 Port of Houston rose 26.6 percent to $385.81 million.
    Exports rose 25.33 percent to $378.87 million. Imports rose 183.99 percent to $6.94 million.
  • Trade with No. 4 Port Everglades, Fla. rose 2.55 percent to $295.68 million.
    Exports rose 2.57 percent to $286.98 million. Imports rose 1.88 percent to $8.7 million.
  • Trade with No. 5 Miami International Airport fell 4.84 percent to $257.87 million.
    Exports fell 8.91 percent to $201.23 million. Imports rose 13.09 percent to $56.65 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. 54.

Meanwhile, total U.S. trade with the world increased to $1.71 trillion, up 0.56 percent compared to the same period last year. The nation’s exports climbed 0.12 percent to $685.55 billion; imports climbed 0.86 percent to $1.03 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 $342.77 billion, up compared to the same period of last year when the deficit was $334.82 billion.

The top five U.S. exports to Panama by value through May were the categories of Gasoline, other fuels; Oil; Civilian aircraft, parts; Low value shipments; and Rum, gin, vodka, other liquors, respectively. They accounted for 58.98 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; Cane, beet sugar, solid form; Gold; and Misc. engines and motors, parts –– accounted for 69.49 percent of all inbound shipments.

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

  • Gasoline, other fuels fell 3.49 percent compared to last year to $1.07 billion.
  • Oil totaled $537.34 million. The previous year, there were no exports in this category.
  • Civilian aircraft, parts rose 8.44 percent compared to last year to $129.92 million.
  • Low value shipments rose 17.78 percent compared to last year to $122.7 million.
  • Rum, gin, vodka, other liquors fell 38.28 percent compared to last year to $57.04 million.

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

  • Value added to a returned import rose 9.29 percent compared to last year to $71.64 million.
  • Fish, fresh or chilled fell 20.4 percent compared to last year to $17.59 million.
  • Cane, beet sugar, solid form rose 36.54 percent compared to last year to $14.52 million.
  • Gold rose 8.32 percent compared to last year to $10.41 million.
  • Misc. engines and motors, parts rose 143.2 percent compared to last year to $7.02 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.