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.
Panama Trade Summary
U.S. goods and services trade with Panama totaled an estimated $17.3 billion in 2024, up 1.8 percent ($307.0 million) from 2023.
U.S. total goods trade with Panama were an estimated $11.1 billion in 2024. U.S. goods exports to Panama in 2024 were $10.5 billion, down 4.7 percent ($519.5 million) from 2023. U.S. goods imports from Panama in 2024 totaled $554.9 million, up 5.8 percent ($30.5 million) from 2023. The U.S. goods trade surplus with Panama was $10.0 billion in 2024, a 5.2 percent decrease ($550.1 million) over 2023.
U.S. total services trade (exports plus imports) with Panama totaled an estimated $6.3 billion in 2024. U.S. services exports to Panama in 2024 were $3.4 billion, up 16.5 percent ($487 million) from 2023. U.S. services imports from Panama in 2024 were $2.8 billion, up 12.3 percent ($309 million) from 2023. The U.S. services trade surplus with Panama was $617 million in 2024, a 40.2 percent increase ($177 million) over 2023.
