Countries

Panama: trade by HS code

  • US$4bnExports 2024
  • US$45bnImports 2024
  • 3,450HS6 · Exports

In 2024, exports from Panama came to US$4bn and imports to US$45bn.

Its main exports were bananas (other than plantains) (0803.90), tankers (8901.20) and cargo ships and other goods vessels (8901.90).

Its largest customer was the United States and its largest supplier China.

In the 12 months to August 2026, the UK imported goods worth £22.2m from Panama (-27% on the year before), above all bananas (other than plantains), watermelons and fish oil (non-liver), and exported £181.1m to it.

Under Central America and the UK–Panama agreement, 93% of the UK tariff lines are duty-free for goods from Panama that meet the rules of origin.

Panama and the UK

UK imports£22.2m-27% · last 12 months
UK exports£181.1m-30% · last 12 months
Duty-free access to the UK93%share of tariff lines at 0% under a preference

Agreement or scheme: Central America · UK–Panama agreement

What the UK imports from Panama

  1. 0803.90Bananas (other than plantains)£7.1m
  2. 0807.11Watermelons£4.6m
  3. 1504.20Fish oil (non-liver)£4.5m
  4. 4011.10New car tyres£1.9m
  5. 1515.90Other vegetable oils (incl. jojoba)£662.5k
  6. 9701.21Paintings over 100 years old£509k
  7. 2208.40Rum£505.6k
  8. 0901.11Green coffee (not decaffeinated)£393.2k
  9. 0807.19Melons (other than watermelons)£279.7k
  10. 2208.70Liqueurs and cordials£262.6k

Data up to August 2026 (provisional) · HMRC

Panama and the EU

EU imports€568.6m-31% · last 12 months
EU exports€3.1bn-29% · last 12 months
Duty-free access to the EU90%share of tariff lines at 0% under a preference

Agreement or scheme: Central America · EU–Panama agreement

What the EU imports from Panama

  1. 8901.90Cargo ships and other goods vessels€185.3m
  2. 8901.20Tankers€67.3m
  3. 7108.12Unwrought gold (non-monetary)€52.3m
  4. 0803.90Bananas (other than plantains)€44.5m
  5. 1504.20Fish oil (non-liver)€32.9m
  6. 4011.10New car tyres€25.1m
  7. 0807.11Watermelons€22.6m
  8. 2933.79Other lactams€17.7m
  9. 2208.40Rum€13.1m
  10. 1511.10Crude palm oil€12.7m

Data up to August 2026 (provisional) · Eurostat Comext

Top exports

  1. 0803.90Bananas (other than plantains)US$261m
  2. 8901.20TankersUS$202m
  3. 8901.90Cargo ships and other goods vesselsUS$164m
  4. 8906.90Other vessels (not warships)US$149m
  5. 3004.90Other medicines, dosed or for retail saleUS$127m
  6. 1504.20Fish oil (non-liver)US$89m
  7. 7108.12Unwrought gold (non-monetary)US$88m
  8. 0306.17Frozen shrimps and prawnsUS$80m
  9. 0303.42Yellowfin tuna (Thunnus albacares)US$65m
  10. 7112.91Gold waste and scrapUS$59m
  11. 7612.90Aluminium cans and containers (other)US$56m
  12. 7204.49Other ferrous scrapUS$53m
  13. 8905.20Floating drilling and production platformsUS$48m
  14. 1701.13Raw cane sugar (non-centrifugal)US$47m
  15. 8905.90Other special vessels (dredgers, floating cranes)US$46m
  16. 7404.00Copper scrapUS$46m
  17. 0302.89Other fresh or chilled fish (whole)US$45m
  18. 2208.40RumUS$43m
  19. 1511.10Crude palm oilUS$43m
  20. 8517.13SmartphonesUS$42m

Top imports

  1. 2709.00Crude oilUS$11bn
  2. 8901.90Cargo ships and other goods vesselsUS$6bn
  3. 2933.79Other lactamsUS$2bn
  4. 8901.20TankersUS$1bn
  5. 3004.90Other medicines, dosed or for retail saleUS$586m
  6. 8905.90Other special vessels (dredgers, floating cranes)US$315m
  7. 8471.30Laptops and portable computers (max 10 kg)US$312m
  8. 8703.22Petrol cars, 1000-1500 ccUS$310m
  9. 6402.99Rubber and plastic shoes (not ankle-covering)US$305m
  10. 7113.19Precious metal jewellery (other than silver)US$290m
  11. 8703.23Petrol cars, 1500-3000 ccUS$212m
  12. 3303.00Perfumes and eau de toiletteUS$208m
  13. 6204.62Women's cotton trousers and shortsUS$195m
  14. 2106.90Other food preparationsUS$184m
  15. 8517.79Telephone and network equipment partsUS$184m
  16. 3002.15Immunological products, dosed or retailUS$178m
  17. 2941.90Other antibioticsUS$171m
  18. 8415.10Wall, window and split air conditionersUS$151m
  19. 2208.30WhiskyUS$148m
  20. 6203.42Men's cotton trousers and shortsUS$148m

Main buyers from Panama

  1. United States US$444m
  2. Denmark US$221m
  3. Netherlands US$203m
  4. Costa Rica US$177m
  5. Thailand US$158m
  6. Türkiye US$153m
  7. South Korea US$147m
  8. Taiwan US$109m
  9. Guatemala US$82m
  10. Japan US$75m

Main suppliers of Panama

  1. China US$8bn
  2. Ecuador US$5bn
  3. United States US$5bn
  4. Japan US$4bn
  5. Colombia US$4bn
  6. Spain US$2bn
  7. South Korea US$1bn
  8. Mexico US$581m
  9. Costa Rica US$506m
  10. Germany US$352m

Questions and answers

What does Panama export most?

In 2024, its largest export at the six-digit level was bananas (other than plantains) (HS 0803.90), worth US$261m.

Does the UK have a trade agreement with Panama?

Yes: goods from Panama can enter at preferential rates under Central America and the UK–Panama agreement, duty-free on 93% of tariff lines, provided they meet the rules of origin and come with proof of origin.