Panama's Exports Continue to Thrive

• Panama achieved a record in accumulated exports as of the first quarter of 2024 (Q1 2024), with approximately $1.2Bn according to Francisco Mola Ortega, vice minister of Foreign Trade of the Ministry of Commerce and Industries (Mici).
• Without copper, Q1 2024 exports grew by 13% compared to Q1 2023. The vice minister mentioned that Panama offers seafood, meat, cardboard, packaging, and coffee. New exports include glass cleaners and degreasers.
• Data up to last February indicate that Panamanian goods exports amounted to $170.3Mn, of which $122.4Mn correspond to exports registered by the agricultural, agro-industrial, industrial and fishing sectors and $47.9Mn to value-added exports from special regimes, being the second highest value recorded since 2010.
• The performance in January and February reflected an increase of more than 9%, compared to the same period of 2023. Accumulated data suggest that the main destinations of Panamanian exports were the Netherlands, Taiwan, and the United States.
• As exports continue to grow, Panamanian companies are also looking for new markets, especially the European bloc and the Caribbean. “The Caribbean, for example, is a natural market for us and there are great possibilities for our companies in the industrial, agro-industrial, fishing and agricultural sectors...” said Eric Dormoi, National Director of Export Promotion at Mici.

(Source: Newsroom Panama)