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The United States-Panama Trade Promotion Agreement (TPA) was signed on June 28, 2007. Panama approved the TPA on July 11, 2007. The TPA was signed into law in the United States on October 21, 2011, and entered into force in both countries on October 31, 2012.
U.S.-Panama Trade Facts
Panama is currently our 45th largest goods trading partner with $11.2 billion in total (two way) goods trade during 2013. Goods exports totaled $10.8 billion; Goods imports totaled $449 million. The U.S. goods trade surplus with Panama was $10.3 billion in 2013.
Panama was the United States' 29th largest goods export market in 2013.
U.S. goods exports to Panama in 2013 were $10.8 billion, up 9.6% ($947 million) from 2012, and up 483% from 2003.
The top export categories (2-digit HS) in 2013 were: Mineral Fuel (oil) ($5.9 billion), Machinery ($711 million), Electrical Machinery ($523 million), Special Other (low value shipments) ($451 million), and Iron and Steel Products ($386)
U.S. exports of agricultural products to Panama totaled $640 million in 2013. Leading categories include: soybean meal ($99 million), corn ($59 million), dairy products ($50 million), and wheat ($42 million).
Panama was the United States' 93rd largest supplier of goods imports in 2013.
U.S. goods imports from Panama totaled $449 million in 2013, a 16.9% decrease ($92 million) from 2012, but up 49% from 2003.
The five largest import categories in 2013 were: Special Other (Returns) ($138 million), Fish and Seafood (shrimp, tuna) ($102 million), Precious Stones (Gold) ($60 million), Electrical Machinery) ($19 million), and Sugars (cane) ($18 million).
U.S. imports of agricultural products from Panama totaled $40 million in 2013. Leading categories include: raw beet and cane sugar ($18 million), and coffee, unroasted ($7 million).
The U.S. goods trade surplus with Panama was $10.3 billion in 2013, an 11.2% increase ($1.0 billion) over 2012.
U.S. foreign direct investment (FDI) in Panama (stock) was $5.1 billion in 2012 (latest data available), down 4.6% from 2011.
Reported U.S. direct investment in Panama is led by the nonbank holding companies and manufacturing sectors.
Panama FDI in the United States (stock) was $1.0 billion in 2012 (latest data available), down 11.6% from 2011.
Reported Panama’s FDI in the U.S. is led by the real estate and manufacturing sectors.