2022
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GDP
$76.5BCURRENT US$
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2012-2022
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GDP GROWTH
89.3%CURRENT US$
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2022
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 GDP
$1.4TCURRENT US$
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2012-2022
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GDP GROWTH
5.49%CURRENT US$
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2022
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GDP PC 
$17,358CURRENT US$
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2012-2022
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GDP PC GROWTH
61.2%CURRENT US$
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2022
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GDP PC
$29,350CURRENT US$
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2012-2022
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GDP PC GROWTH
3.63%CURRENT US$
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About

Panama-Spain In 2022, Panama exported $306M to Spain. The main products that Panama exported to Spain are Copper Ore ($220M), Non-fillet Frozen Fish ($33M), and Additive manufacturing machines ($14.6M). During the last 27 years the exports of Panama to Spain have increased at an annualized rate of 5.41%, from $73.7M in 1995 to $306M in 2022.

In 2022, Panama did not export any services to Spain.

Spain-Panama In 2022, Spain exported $614M to Panama. The main products that Spain exported to Panama were Nitrogen Heterocyclic Compounds ($161M), Refined Petroleum ($73M), and Packaged Medicaments ($34.5M). During the last 27 years the exports of Spain to Panama have increased at an annualized rate of 7.79%, from $81M in 1995 to $614M in 2022.

In 2022, Spain did not export any services to Panama.

Comparison In 2022,  Panama ranked 56 in the Economic Complexity Index (ECI 0.17), and 119 in total exports ($6.62B). That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Panama exported $306M to Spain. The main products exported from Panama to Spain were Copper Ore ($220M), Non-fillet Frozen Fish ($33M), and Additive manufacturing machines ($14.6M). During the last 27 years the exports of Panama to Spain have increased at an annualized rate of 5.41%, from $73.7M in 1995 to $306M in 2022.

In 2022, Spain exported $614M to Panama. The main products exported from Spain to Panama were Nitrogen Heterocyclic Compounds ($161M), Refined Petroleum ($73M), and Packaged Medicaments ($34.5M). During the last 27 years the exports of Spain to Panama have increased at an annualized rate of 7.79%, from $81M in 1995 to $614M in 2022.

Exports from Panama (Flag) to Spain (Flag) (2022)

Exports from Spain (Flag) to Panama (Flag) (2022)

Latest Data

Trade between Panama (Flag) and Spain (Flag)

Panama Exports

Spain Exports

Market Competitiveness

Color
Panama
Top Destination
China$1.14B
Spain
Top Destination
France$65.2B

This map shows whether countries import more from Panama or Spain. Each country is colored based on the difference in imports they receive from Panama and Spain or the difference in the growth in imports.

In 2021, countries that imported more from Panama than Spain were Guyana ($49.6M), Aruba ($43.4M), and Jamaica ($99.7M).

In 2021, countries that imported more from Spain than Panama were France ($65.2B), Germany ($39.2B), and Portugal ($34.9B).

Difference in imports from Spain (Flag) and Panama (Flag) (2022)

Comparative Advantage Panama - Spain

Flow
Scale

This chart compares trade between Panama and Spain by product, considering products traded by both, Panama and Spain.

During 2022, Panama had a large net trade with Spain in the exports of Mineral Products ($220M), Animal Products ($35.5M), and Machines ($17.9M).

During 2022, Spain had a large net trade with Panama in the exports of Chemical Products ($251M), Machines ($78.9M), and Mineral Products ($74.6M).

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Panama has comparative advantage over Spain. Similarly, the more yellow a dot/product is, the more Spain has comparative advantage over Panama.

Product Space of Panama (Flag) and Spain (Flag) (2022)

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