In this period, exports reached $561.7 million, an increase of 2.9 per cent from $545.8 million
Panama’s exports of goods, corresponding until July 2024, show a significant increase, establishing the highest value recorded in the first seven months of the year since 2010, according to a statement from the Ministry of Commerce and Industries (MICI).
In this period, registered exports reached $561.7 million, an increase of 2.9% compared to $545.8 million for the same period in 2023.
Are we seeing promising results in the performance of our exports. We have initiated key efforts in advocacy and training, and will soon implement more measures to support our entrepreneurs. This is only the beginning of our commitment to strengthen and expand Panamanian exports, said the Minister of Trade and Industries, Julio Moltó.
With regard to tariff fractions, bananas continue to be the main export product, accounting for 13.7% of the total. It is followed by frozen shrimp (8.3%), raw cane sugar (7.9%), and fish fats and oils (6.7%). Other prominent fractions include waste of iron or steel, raw teak, raw palm oil, fishmeal, antihistamine and antipyretic medicines, and decaffeinated roasted coffee. Together, these 10 fractions comprise 58.9% of total exports.
In terms of export destinations, the main markets for Panama in the first seven months of 2024 were the United States, with $113.8 million; the Netherlands, with $76.3 million; and Taiwan, with $56.7 million.
This article has been translated after first appearing in PanamaAmerica