Panama
U.S. Trade with Panama in 2023
Export Market Rank
#27 Among U.S. Agricultural Export Markets
Total Export Value
$866.89 Million
3-Year Average
$926.04 Million
Compound Average Growth
2.4% (2014-2023)
Total Export Value 2014 - 2023
Export Value by Commodity 2023
Top 10 Exports to Panama in 2023
| Commodity | Total Value (USD) | Total Volume (Metric Tons) | 10-Year Average Value (USD) | 10-Year Growth |
|---|---|---|---|---|
| Soybean Meal | $94.67 Million | 181,787 | $84.08 Million | 16% |
| Corn | $94.13 Million | 330,439 | $92.21 Million | 12% |
| Dairy Products | $87.97 Million | 19,297 | $62.02 Million | 79% |
| Wheat | $41.26 Million | 100,242 | $38.12 Million | 21% |
| Baked Goods | $39.7 Million | 12,468 | $35.94 Million | 25% |
| Pork & Pork Products | $39.53 Million | 13,843 | $40.05 Million | 44% |
| Food Preparations | $39.4 Million | 8,024 | $37.45 Million | 16% |
| Poultry Meat & Prods. (excl. eggs) | $39.04 Million | 19,078 | $34.88 Million | 43% |
| Beer | $29.08 Million | --- | $28.94 Million | 26% |
| Processed Vegetables | $27.85 Million | 17,001 | $25.9 Million | 25% |
Data and Analysis
Changes to Panama's import requirements reflected in this report are for beef, pork, poultry, dairy products, and prior notifications of imported food. A new law establishes the inspections and food safety regulations for food products.
Panama recognizes the certificates and standards of the U.S. regulatory and sanitary inspection system, based on the United States – Panama Agreement regarding certain sanitary and phytosanitary measures and technical standards affecting trade in agricultural products, of December 20, 2006, simplifying requirements for the importation of U.S. food and feed products.
This report provides information to U.S. exporters of agricultural and related products on how to do business with the Food Processing industry in Panama. It is primarily a service – based economy, but food processing is one of its top industries.
News and Features
USDA's Under Secretary for Trade and Foreign Agricultural Affairs Alexis Taylor arrived in Panama City today to launch an agribusiness trade mission. Taylor and a delegation of representatives from agribusiness and farm organizations and state departments of agriculture look to develop stronger ties and build economic partnerships between the United States and Panama and markets throughout CAFTA-DR region.
USDA's Under Secretary for Trade and Foreign Agricultural Affairs Alexis M. Taylor will lead a delegation of 26 agribusinesses and farm organizations to Panama City, Panama, from March 19 to 23.
The U.S. Department of Agriculture’s Foreign Agricultural Service is accepting applications from U.S. exporters for a regional trade mission to Panama from March 19-23, 2023.