Trade lane

What Panama buys from Spain.

Panama imported USD 2.2bn of manufactured and processed goods from Spain in 2024, up 326 per cent on 2022. That is 12 per cent of everything Panama imported in these lines, and Spain is its number 3 source. Below: the 50 largest lines, the fastest growing, where Spain dominates, and where another country ships the same line for less a tonne.

Trade year 2024, compared with 2022. Unit values are customs values per tonne, declared at the border, not product prices.

USD 2.2bnfrom Spain in 2024 (USD 510m in 2022)
12 per centof Panama's imports in these lines, USD 18bn from every source
55product lines worth USD 1m or more on this lane
#3Spain's rank among Panama's sources
The top 50

The largest lines on the lane, by 2024 value.

Each line shows what Panama paid Spain for it at the border, Spain's share of everything Panama imported in that line, how it changed since 2022, and the customs unit value per tonne where the weight is recorded. Together they are 93 per cent of the lane.

  1. 1

    Heterocyclic compounds: lactams: other than 6-hexanelactam (epsilon caprolactam) and clobazam (INN) and methyprylon (INN)HS 293379

    Share of Panama's imports93 per cent, 7 source countries
    Changefrom USD 144m in 2022
    Unit valuenot shown: weight missing or out of range
    USD 1.8bnin 2024
  2. 2

    Perfumes and toilet watersHS 330300

    Share of Panama's imports21 per cent, 36 source countries
    Changeup 146 per cent on 2022 (USD 18m in 2022)
    Unit valueUSD 61,169 a tonne, 726 tonnes
    USD 44min 2024
  3. 3

    Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail saleHS 300490

    Share of Panama's imports6 per cent, 64 source countries
    Changeup 15 per cent on 2022 (USD 31m in 2022)
    Unit valueUSD 74,843 a tonne, 475 tonnes
    USD 36min 2024
  4. 4

    Iron or steel: structures and parts thereof, n.e.c. in heading 7308HS 730890

    Share of Panama's imports11 per cent, 48 source countries
    Changedown 20 per cent on 2022 (USD 16m in 2022)
    Unit valueUSD 2,546 a tonne, 5,145 tonnes
    USD 13min 2024
  5. 5

    Insulated electric conductors: for a voltage not exceeding 1000 volts, not fitted with connectorsHS 854449

    Share of Panama's imports19 per cent, 49 source countries
    Changeup 202 per cent on 2022 (USD 4m in 2022)
    Unit valueUSD 8,765 a tonne, 1,477 tonnes
    USD 13min 2024
  6. 6

    Heterocyclic compounds: containing an unfused pyridine ring (whether or not hydrogenated) in the structure, n.e.c. in 2933.3HS 293339

    Share of Panama's imports97 per cent, 9 source countries
    Changefrom USD 1k in 2022
    Unit valuenot shown: weight missing or out of range
    USD 7min 2024
  7. 7

    Wine: still, in containers holding 2 litres or lessHS 220421

    Share of Panama's imports26 per cent, 27 source countries
    Changeup 1 per cent on 2022 (USD 6m in 2022)
    Unit valueUSD 6,753 a tonne, 923 tonnes
    USD 6min 2024
  8. 8

    Ceramic tiles: flags and paving, hearth or wall tiles other than those of subheadings 6907.30 and 6907.40, of a water absorption coefficient by weight not over 0.5%HS 690721

    Share of Panama's imports34 per cent, 21 source countries
    Changedown 10 per cent on 2022 (USD 7m in 2022)
    Unit valueUSD 611 a tonne, 9,959 tonnes
    USD 6min 2024
  9. 9

    Food preparations: n.e.c. in item no. 2106.10HS 210690

    Share of Panama's imports3 per cent, 55 source countries
    Changeup 93 per cent on 2022 (USD 3m in 2022)
    Unit valueUSD 15,559 a tonne, 360 tonnes
    USD 6min 2024
  10. 10

    Vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity not over 1500ccHS 870331

    Share of Panama's imports99 per cent, 4 source countries
    Changenew since 2022
    Unit valuenot shown: weight missing or out of range
    USD 5min 2024
  11. 11

    Medicaments: containing corticosteroid hormones, their derivatives or structural analogues (but not containing antibiotics), for therapeutic or prophylactic uses...HS 300432

    Share of Panama's imports14 per cent, 33 source countries
    Changeup 231 per cent on 2022 (USD 2m in 2022)
    Unit valueUSD 241,422 a tonne, 22 tonnes
    USD 5min 2024
  12. 12

    Cosmetic and toilet preparations: n.e.c. in heading no. 3304, for the care of the skin (excluding medicaments, including sunscreen or sun tan preparations)HS 330499

    Share of Panama's imports6 per cent, 52 source countries
    Changeup 36 per cent on 2022 (USD 4m in 2022)
    Unit valueUSD 13,746 a tonne, 363 tonnes
    USD 5min 2024
  13. 13

    Particle board of wood, whether or not agglomerated with resins or other organic binding substancesHS 441011

    Share of Panama's imports42 per cent, 17 source countries
    Changeup 32 per cent on 2022 (USD 4m in 2022)
    Unit valueUSD 625 a tonne, 7,642 tonnes
    USD 5min 2024
  14. 14

    Buildings: modular building units, of steelHS 940620

    Share of Panama's imports58 per cent, 12 source countries
    Changefrom USD 566k in 2022
    Unit valueUSD 3,191 a tonne, 1,490 tonnes
    USD 5min 2024
  15. 15

    Food preparations: bakers' wares n.e.c. in heading no. 1605, whether or not containing cocoa: communion wafers, empty cachets suitable for pharmaceutical use, sealing...HS 190590

    Share of Panama's imports5 per cent, 48 source countries
    Changeup 18 per cent on 2022 (USD 3m in 2022)
    Unit valueUSD 3,435 a tonne, 1,196 tonnes
    USD 4min 2024
  16. 16

    Dog or cat food: (not put up for retail sale), used in animal feedingHS 230990

    Share of Panama's imports4 per cent, 31 source countries
    Changedown 22 per cent on 2022 (USD 5m in 2022)
    Unit valueUSD 2,345 a tonne, 1,594 tonnes
    USD 4min 2024
  17. 17

    Beer: made from maltHS 220300

    Share of Panama's imports5 per cent, 36 source countries
    Changeup 187 per cent on 2022 (USD 1m in 2022)
    Unit valueUSD 1,004 a tonne, 3,365 tonnes
    USD 3min 2024
  18. 18

    Furniture incorporating refrigerating or freezing equipment: for storage and display, n.e.c. in item no. 8418.1, 8418.2, 8418.3 or 8418.4 (chests, cabinets, display...HS 841850

    Share of Panama's imports14 per cent, 25 source countries
    Changefrom USD 440k in 2022
    Unit valueUSD 11,304 a tonne, 292 tonnes
    USD 3min 2024
  19. 19

    Buildings: prefabricated, not of woodHS 940690

    Share of Panama's imports26 per cent, 21 source countries
    Changeup 134 per cent on 2022 (USD 1m in 2022)
    Unit valueUSD 5,422 a tonne, 566 tonnes
    USD 3min 2024
  20. 20

    Vegetable preparations: olives, prepared or preserved otherwise than by vinegar or acetic acid, not frozenHS 200570

    Share of Panama's imports78 per cent, 12 source countries
    Changeup 8 per cent on 2022 (USD 3m in 2022)
    Unit valueUSD 3,352 a tonne, 869 tonnes
    USD 3min 2024
  21. 21

    Iron or steel: articles n.e.c. in heading 7326HS 732690

    Share of Panama's imports5 per cent, 71 source countries
    Changeup 10 per cent on 2022 (USD 2m in 2022)
    Unit valueUSD 5,049 a tonne, 491 tonnes
    USD 2min 2024
  22. 22

    Boards, panels, consoles, desks and other bases: for electric control or the distribution of electricity, (other than switching apparatus of heading no. 8517), for a...HS 853720

    Share of Panama's imports11 per cent, 33 source countries
    Changefrom USD 323k in 2022
    Unit valueUSD 33,490 a tonne, 71 tonnes
    USD 2min 2024
  23. 23

    Printed matter: books, brochures, leaflets and similar printed matter n.e.c. in item no. 4901.10 or 4901.91HS 490199

    Share of Panama's imports9 per cent, 54 source countries
    Changeup 27 per cent on 2022 (USD 2m in 2022)
    Unit valueUSD 12,817 a tonne, 181 tonnes
    USD 2min 2024
  24. 24

    Games: operated by coins, banknotes, bank cards, tokens or by other means of payment, other than billiard articles and accesssories, and automatic bowling alley equipmentHS 950430

    Share of Panama's imports16 per cent, 26 source countries
    Changeup 103 per cent on 2022 (USD 1m in 2022)
    Unit valueUSD 39,027 a tonne, 57 tonnes
    USD 2min 2024
  25. 25

    Vegetable preparations: tomatoes, (other than whole or in pieces), prepared or preserved otherwise than by vinegar or acetic acidHS 200290

    Share of Panama's imports19 per cent, 15 source countries
    Changefrom USD 33k in 2022
    Unit valueUSD 1,767 a tonne, 1,206 tonnes
    USD 2min 2024
  26. 26

    Boards, panels, consoles, desks and other bases: for electric control or the distribution of electricity, (other than switching apparatus of heading no. 8517), for a...HS 853710

    Share of Panama's imports5 per cent, 68 source countries
    Changeup 69 per cent on 2022 (USD 1m in 2022)
    Unit valueUSD 65,629 a tonne, 32 tonnes
    USD 2min 2024
  27. 27

    Vermouth and other wine of fresh grapes, flavoured with plants or aromatic substances, in containers holding 2 litres or lessHS 220510

    Share of Panama's imports78 per cent, 14 source countries
    Changedown 4 per cent on 2022 (USD 2m in 2022)
    Unit valueUSD 1,711 a tonne, 1,210 tonnes
    USD 2min 2024
  28. 28

    Engines: parts for internal combustion piston engines (excluding spark-ignition)HS 840999

    Share of Panama's imports2 per cent, 61 source countries
    Changeup 86 per cent on 2022 (USD 1m in 2022)
    Unit valueUSD 57,689 a tonne, 35 tonnes
    USD 2min 2024
  29. 29

    Ceramic tiles: flags and paving, hearth or wall tiles other than those of subheadings 6907.30 and 6907.40, of a water absorption coefficient by weight over 10%HS 690723

    Share of Panama's imports45 per cent, 17 source countries
    Changedown 49 per cent on 2022 (USD 4m in 2022)
    Unit valueUSD 537 a tonne, 3,747 tonnes
    USD 2min 2024
  30. 30

    Medicaments: containing antibiotics (other than penicillins, streptomycins or their derivatives), for therapeutic or prophylactic uses, packaged for retail saleHS 300420

    Share of Panama's imports5 per cent, 43 source countries
    Changeup 21 per cent on 2022 (USD 2m in 2022)
    Unit valueUSD 62,714 a tonne, 32 tonnes
    USD 2min 2024
  31. 31

    Iron or steel: structures and parts thereof, doors, windows and their frames and thresholds for doorsHS 730830

    Share of Panama's imports20 per cent, 22 source countries
    Changeup 50 per cent on 2022 (USD 1m in 2022)
    Unit valueUSD 5,597 a tonne, 323 tonnes
    USD 2min 2024
  32. 32

    Wood: doors and their frames and thresholds, (of other than tropical wood)HS 441829

    Share of Panama's imports21 per cent, 17 source countries
    Changeup 193 per cent on 2022 (USD 601k in 2022)
    Unit valueUSD 5,105 a tonne, 344 tonnes
    USD 2min 2024
  33. 33

    Cases and containers: handbags (whether or not with shoulder strap and including those without handle), with outer surface of leather or of composition leatherHS 420221

    Share of Panama's imports16 per cent, 29 source countries
    Changeup 22 per cent on 2022 (USD 1m in 2022)
    Unit valueUSD 398,495 a tonne, 4.3 tonnes
    USD 2min 2024
  34. 34

    Hair preparations: n.e.c. in heading no. 3305HS 330590

    Share of Panama's imports4 per cent, 34 source countries
    Changedown 14 per cent on 2022 (USD 2m in 2022)
    Unit valueUSD 5,692 a tonne, 298 tonnes
    USD 2min 2024
  35. 35

    Dog or cat food: put up for retail sale, used in animal feedingHS 230910

    Share of Panama's imports2 per cent, 18 source countries
    Changeup 160 per cent on 2022 (USD 635k in 2022)
    Unit valueUSD 2,905 a tonne, 568 tonnes
    USD 2min 2024
  36. 36

    Equipment for outdoor games and recreation n.e.c. in heading no. 9506HS 950699

    Share of Panama's imports17 per cent, 34 source countries
    Changeup 293 per cent on 2022 (USD 403k in 2022)
    Unit valueUSD 9,530 a tonne, 166 tonnes
    USD 2min 2024
  37. 37

    Ice cream and other edible ice: whether or not containing cocoaHS 210500

    Share of Panama's imports25 per cent, 16 source countries
    Changefrom USD 75k in 2022
    Unit valueUSD 5,349 a tonne, 285 tonnes
    USD 2min 2024
  38. 38

    Pharmaceutical goods: chemical contraceptive preparations based on hormones, on other products of heading 2937 or on spermicidesHS 300660

    Share of Panama's imports10 per cent, 16 source countries
    Changeup 41 per cent on 2022 (USD 1m in 2022)
    Unit valueUSD 164,022 a tonne, 8.8 tonnes
    USD 1min 2024
  39. 39

    Liqueurs and cordialsHS 220870

    Share of Panama's imports6 per cent, 22 source countries
    Changeup 378 per cent on 2022 (USD 296k in 2022)
    Unit valueUSD 8,278 a tonne, 171 tonnes
    USD 1min 2024
  40. 40

    Fertilizers, mineral or chemical: n.e.c. in heading no. 3105HS 310590

    Share of Panama's imports6 per cent, 27 source countries
    Changeup 36 per cent on 2022 (USD 1m in 2022)
    Unit valueUSD 3,589 a tonne, 387 tonnes
    USD 1min 2024
  41. 41

    Aluminium: structures (excluding prefabricated buildings of heading no. 9406) and parts of structures, n.e.c. in heading no. 7610, plates, rods, profiles, tubes and the...HS 761090

    Share of Panama's imports16 per cent, 33 source countries
    Changeup 65 per cent on 2022 (USD 820k in 2022)
    Unit valueUSD 8,515 a tonne, 159 tonnes
    USD 1min 2024
  42. 42

    Perfumery, cosmetic or toilet preparations: personal deodorants and antiperspirantsHS 330720

    Share of Panama's imports5 per cent, 30 source countries
    Changedown 16 per cent on 2022 (USD 2m in 2022)
    Unit valueUSD 10,688 a tonne, 126 tonnes
    USD 1min 2024
  43. 43

    Meat preparations: sausages and similar products, of meat, meat offal, blood or insects, and food preparations based on these productsHS 160100

    Share of Panama's imports8 per cent, 11 source countries
    Changeup 33 per cent on 2022 (USD 1m in 2022)
    Unit valueUSD 10,845 a tonne, 124 tonnes
    USD 1min 2024
  44. 44

    Aluminium: alloys, bars, rods and profiles, other than hollowHS 760429

    Share of Panama's imports12 per cent, 30 source countries
    Changedown 20 per cent on 2022 (USD 2m in 2022)
    Unit valueUSD 8,920 a tonne, 149 tonnes
    USD 1min 2024
  45. 45

    Machinery: for packing or wrappingHS 842240

    Share of Panama's imports19 per cent, 25 source countries
    Changedown 20 per cent on 2022 (USD 2m in 2022)
    Unit valueUSD 42,772 a tonne, 31 tonnes
    USD 1min 2024
  46. 46

    Finishing ceramicsHS 690740

    Share of Panama's imports46 per cent, 18 source countries
    Changedown 17 per cent on 2022 (USD 2m in 2022)
    Unit valueUSD 1,998 a tonne, 645 tonnes
    USD 1min 2024
  47. 47

    Organic surface-active products and preparations for washing the skin, in the form of liquid or cream and put up for retail sale, whether or not containing soapHS 340130

    Share of Panama's imports10 per cent, 36 source countries
    Changeup 95 per cent on 2022 (USD 605k in 2022)
    Unit valueUSD 2,895 a tonne, 408 tonnes
    USD 1min 2024
  48. 48

    Blood, human or animal, antisera, other blood fractions and immunological products: antisera and other blood fractionsHS 300212

    Share of Panama's imports3 per cent, 24 source countries
    Changeup 96 per cent on 2022 (USD 599k in 2022)
    Unit valueUSD 1.3m a tonne, 0.9 tonnes
    USD 1min 2024
  49. 49

    Food preparations: of flour, meal, starch, malt extract or milk products, suitable for infants or young children, put up for retail saleHS 190110

    Share of Panama's imports4 per cent, 24 source countries
    Changeup 10 per cent on 2022 (USD 1m in 2022)
    Unit valueUSD 8,424 a tonne, 138 tonnes
    USD 1min 2024
  50. 50

    Furniture: metal, other than for office useHS 940320

    Share of Panama's imports3 per cent, 57 source countries
    Changedown 81 per cent on 2022 (USD 6m in 2022)
    Unit valueUSD 2,295 a tonne, 493 tonnes
    USD 1min 2024
Fastest growing

The lines that grew most since 2022.

Lines worth at least USD 5m in 2022, ranked by growth to 2024 in current dollars. A fast rise can be a new product, a shift away from another source, or a price change; the record does not say which.

  1. Heterocyclic compounds: lactams: other than 6-hexanelactam (epsilon caprolactam) and clobazam (INN) and methyprylon (INN)HS 293379USD 1.8bn in 2024, from USD 144m in 2022. Spain supplies 93 per cent of the line.
  2. Perfumes and toilet watersHS 330300USD 44m in 2024, up 146 per cent on 2022 (USD 18m in 2022). Spain supplies 21 per cent of the line.
  3. Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail saleHS 300490USD 36m in 2024, up 15 per cent on 2022 (USD 31m in 2022). Spain supplies 6 per cent of the line.
  4. Wine: still, in containers holding 2 litres or lessHS 220421USD 6m in 2024, up 1 per cent on 2022 (USD 6m in 2022). Spain supplies 26 per cent of the line.
Where Spain dominates

Lines where Spain supplies 60 per cent or more.

The largest lines worth USD 1m or more where Spain ships at least 60 per cent of what Panama imports. This is supply concentration: how much of the line depends on one source country.

  1. Heterocyclic compounds: lactams: other than 6-hexanelactam (epsilon caprolactam) and clobazam (INN) and methyprylon (INN)HS 29337993 per cent of Panama's imports of the line, USD 1.8bn; 7 source countries in all.
  2. Heterocyclic compounds: containing an unfused pyridine ring (whether or not hydrogenated) in the structure, n.e.c. in 2933.3HS 29333997 per cent of Panama's imports of the line, USD 7m; 9 source countries in all.
  3. Vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity not over 1500ccHS 87033199 per cent of Panama's imports of the line, USD 5m; 4 source countries in all.
  4. Vegetable preparations: olives, prepared or preserved otherwise than by vinegar or acetic acid, not frozenHS 20057078 per cent of Panama's imports of the line, USD 3m; 12 source countries in all.
  5. Vermouth and other wine of fresh grapes, flavoured with plants or aromatic substances, in containers holding 2 litres or lessHS 22051078 per cent of Panama's imports of the line, USD 2m; 14 source countries in all.
  6. Gypsum: anhydriteHS 25201099 per cent of Panama's imports of the line, USD 1m; 3 source countries in all.
Another source, lower unit value

Where another country ships the same line for at least 20 per cent less a tonne.

Lines worth USD 5m or more where Spain's unit value is recorded and another country also ships at least USD 5m of the same line to Panama at a unit value at least 20 per cent lower. The largest such source is named. The same heading can hold different grades, so a lower figure is a question to ask, not a like-for-like price.

  1. Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail saleHS 300490Spain: USD 36m at USD 74,843 a tonne. Mexico: USD 44m (8 per cent of the line) at USD 13,688 a tonne, 82 per cent lower. Middle of all sources: USD 67,863 a tonne.
  2. Insulated electric conductors: for a voltage not exceeding 1000 volts, not fitted with connectorsHS 854449Spain: USD 13m at USD 8,765 a tonne. Mexico: USD 7m (11 per cent of the line) at USD 5,481 a tonne, 38 per cent lower. Middle of all sources: USD 9,318 a tonne.
  3. Wine: still, in containers holding 2 litres or lessHS 220421Spain: USD 6m at USD 6,753 a tonne. Chile: USD 6m (27 per cent of the line) at USD 2,660 a tonne, 61 per cent lower. Middle of all sources: USD 6,744 a tonne.
  4. Food preparations: n.e.c. in item no. 2106.10HS 210690Spain: USD 6m at USD 15,559 a tonne. United States: USD 55m (30 per cent of the line) at USD 7,470 a tonne, 52 per cent lower. Middle of all sources: USD 9,227 a tonne.
  5. Medicaments: containing corticosteroid hormones, their derivatives or structural analogues (but not containing antibiotics), for therapeutic or prophylactic uses...HS 300432Spain: USD 5m at USD 241,422 a tonne. United Kingdom: USD 6m (16 per cent of the line) at USD 120,098 a tonne, 50 per cent lower. Middle of all sources: USD 120,098 a tonne.
The other side of the lane

What Panama buys from everyone, and what it is placed to make.

What this record says

What crossed the border, what it was worth, and what it weighed.

Every figure on this page is from CEPII's BACI file, which reconciles what each pair of countries reports to the UN about the same shipment. Trade year 2024, compared with 2022. A line is one six-digit customs heading (HS 2022). Values are in US dollars at the border; growth is in current dollars, so part of any change is price, not volume.

Unit value. Unit values are customs values per tonne, declared at the border, not product prices. It is the value of a line divided by its declared weight, so it mixes grades, models and qualities under one heading. It is shown only where the weight is recorded, at least three source countries of USD 100k or more ship the line to Panama with a weight, and the figure sits within a factor of five of the middle of those sources. Outside that band it is treated as a recording problem and left out.

Share is Spain's part of everything Panama imported in that line, from every source. Sources counts the countries that shipped any of it.

Scope. Manufactured and processed goods, customs chapters 16 to 96, without ores, fuels, precious metals, scrap, raw farm output and one-off capital and defence purchases: the same rule as the Made here pages.

What it does not say

A record of trade, not a shopping list.

What this record does not say: what sells at retail, what margin a trade leaves, how crowded the marketplaces are, or how much of a flow is re-exported through entrepots such as Hong Kong and Singapore.

A large line is not proof of an opening, and a lower unit value from another country is not proof the goods are the same. Tariffs, standards, freight, payment terms, lead times and the plain fact that a supplier is good at it are all invisible here. Nothing on this page is a forecast, a recommendation or a promise. No supplier company is named, because the record holds none.

Source: CEPII BACI, HS22, version 202601. Edition of 2026-11-03.

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