Panama Exports Rise in September

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By LatAm Reports Editor

Registered exports of Panamanian goods amounted to $2,226.7 million, according to data released by the Office of Trade Intelligence (INTELCOM) as of September 2023.

The report highlights a cumulative total performance that exceeded what was reported in the same period of 2022.

Copper exports up to September were at $57.6 million higher than in the same period for 2022.

Excluding copper exports, products from the productive sectors reached $709.1 million until September, with an 8.4% growth in the FOB value, compared to the same period of 2022 that it was $653.9 million.

Ninety-two per cent of total Panamanian exports until September 2023 were shipped by sea, and 68 per cent if we exclude copper.

The International Port of Punta Rincón, Puerto de Balboa, Puero Manzanillo, the Admiral’s Puero in Bocas del Toro, Paso Canoa in Chiriquí, Tocumen International Airport and Colon Container Terminal, led the boarding spots.

The main export destinations were China, Japan and South Korea, mainly because of copper porphyry exports. Likewise, Spain, India, Germany, the United States, the Netherlands and Bulgaria are among the main destinations.

At the level of tariff fractions individually considered, copper and banana exports continue to lead exports in the accumulated for the first 9 months of 2023 and represented, respectively, 75.8% and 3.9% of the total, followed by exports of frozen shrimp with 1.4%, raw palm oil with 1.4%, iron or steel waste with 1.3%, , fats and fish oils with 1.1%, other medicines with 1.0% raw teak with 0.9%.

As for new products, wax was exported for the first time for dentistry or composed for dental printing.

Exports with added value from free zones and the Panama Pacific Special Economic Area also showed positive figures, with a cumulative of $214.3M, bringing our total export offer to $923.5 million.

This article has been translated from the original which first appeared in Pan America