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Panama

Panama ranked No. 52 in total trade value through July with a total of $4.52 billion. Exports totaled $4.27 billion and Imports totaled $252.37 million, a surplus of $4.02 billion.

January – July 2019

Top Trading Ports

Total Trade: $4.52 billion

RankPortTotal YTD
1Port of Pascagoula, Miss. $558,427,324
2Port of Houston $499,488,197
3Port Everglades, Fla. $403,775,730
4Port of Beaumont, Texas $387,200,538
5Miami International Airport $374,827,122
6Port Miami $311,540,251
7Port of Freeport, Texas $293,573,922
8Port of New Orleans $176,445,524
9Low-Valued Imports and Exports $159,909,654
10Seattle-Tacoma International Airport $102,202,278

U.S. trade with Panama rose to $4.52 billion through July

Panama’s trade with the United States rose to $4.52 billion through the first seven months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 10.55 percent above its total trade during the same time period last year. U.S. exports to Panama increased 12.43 percent while U.S. imports from Panama fell 13.87 percent. The U.S. surplus with Panama was $4.02 billion.

Through July, 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 Port of Beaumont, Texas; 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 49.17 percent of Panama’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Pascagoula, Miss. fell 17.11 percent to $558.43 million.
    Exports fell 17.11 percent to $558.43 million. There were no imports.
  • Trade with No. 2 Port of Houston rose 13.96 percent to $499.49 million.
    Exports rose 12.92 percent to $490.41 million. Imports rose 127.19 percent to $9.08 million.
  • Trade with No. 3 Port Everglades, Fla. rose 1.98 percent to $403.78 million.
    Exports rose 1.73 percent to $391.98 million. Imports rose 10.7 percent to $11.8 million.
  • Trade with No. 4 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. 5 Miami International Airport rose 1.11 percent to $374.83 million.
    Exports fell 4.13 percent to $281.88 million. Imports rose 21.19 percent to $92.95 million.

Panama ranked No. 52 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 $2.41 trillion, down 0.06 percent compared to the same period last year. The nation’s exports dropped 0.71 percent to $956.44 billion; imports climbed 0.38 percent to $1.45 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 $498.31 billion, up compared to the same period of last year when the deficit was $485.95 billion.

The top five U.S. exports to Panama by value through July were the categories of Gasoline, other fuels; Oil; Low value shipments; Civilian aircraft, parts; and Petroleum gases, other gaseous hydrocarbons, respectively. They accounted for 56.66 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 Shrimp, other crustaceans –– accounted for 66.64 percent of all inbound shipments.

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

  • Gasoline, other fuels fell 9.52 percent compared to last year to $1.38 billion.
  • Oil totaled $638.77 million. The previous year, there were no exports in this category.
  • Low value shipments rose 11.88 percent compared to last year to $159.91 million.
  • Civilian aircraft, parts rose 10.93 percent compared to last year to $148.49 million.
  • Petroleum gases, other gaseous hydrocarbons rose 1399.19 percent compared to last year to $95.01 million.

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

  • Value added to a returned import rose 0.58 percent compared to last year to $91.62 million.
  • Fish, fresh or chilled fell 17.92 percent compared to last year to $28.37 million.
  • Gold rose 53.9 percent compared to last year to $21.44 million.
  • Cane, beet sugar, solid form fell 21.05 percent compared to last year to $15.47 million.
  • Shrimp, other crustaceans fell 22.23 percent compared to last year to $11.29 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.