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 & Investment Summary
U.S. goods and services trade with Panama totaled an estimated $17.5 billion in 2022. Exports were $14.5 billion; imports were $2.9 billion. The U.S. goods and services trade surplus with Panama was $11.6 billion in 2022.
U.S. goods exports to Panama in 2022 were $11.9 billion, up 48.5 percent ($3.9 billion) from 2021 and up 21 percent from 2012. U.S. goods imports from Panama totaled $523 million in 2022, down 30.7 percent ($232 million) from 2021, and down 3 percent from 2012. The U.S. goods trade surplus with Panama was $11.4 billion in 2022, a 56.7 percent increase ($4.1 billion) over 2021.
U.S. exports of services to Panama were an estimated $2.6 billion in 2022, 13.1 percent ($302 million) more than 2021, and 39 percent greater than 2012 levels. U.S. imports of services from Panama were an estimated $2.4 billion in 2022, 69.1 percent ($981 million) more than 2021, and 2 percent less than 2012 levels. Leading services exports from the U.S. to Panama were in the transportation, financial services, and travel sectors. The United States had a services trade surplus of an estimated $208 million with Panama in 2022, down 76.6 percent from 2021.
U.S. foreign direct investment (FDI) in Panama (stock) was $3.8 billion in 2022, a 6.5 percent increase from 2021. U.S. direct investment in Panama is led by nonbank holding companies, wholesale trade, and manufacturing.
Panama's FDI in the United States (stock) was $1.9 billion in 2022, up 3.0 percent from 2021. Panama's direct investment in the U.S. is led by real estate, wholesale trade, and finance and insurance.