In the First Quarter of 2025, Panama Exports Grew by 25.1%

The Ministry of Commerce and Industry (MICI) reported that during the first quarter of 2025, Panamanian exports totaled $324.4 million, representing an increase of 25.1%, or $65.1 million compared to the same period in 2024, when $259.4 million were reported.  According to the MICI, “this is the highest value recorded in a first quarter in the last 15 years, reflecting the momentum the Panamanian export sector is gaining in its search for more and new opportunities in international markets.”  This growth is comprised of $249.1 million in registered exports, which represented a 32.7% increase over the previous year, and $75.4 million in value-added exports under special regimes, which grew by 5.2%. The sum of both items constitutes the historic total achieved during this period.

“This historic record in Panamanian exports reflects the effort and commitment of our exporters, as well as Panama’s potential for continued growth in international markets. With each achievement, we reaffirm our ability to offer diversified, quality products to the world,” said Julio Moltó, head of the Ministry of Industry and Trade (MICI).  During these three months, the main destinations for Panamanian exports were the Netherlands, with 14.2% of the total, followed by Taiwan, with 13.2%, and the United States, with 12.8%.  Other major partners such as Mexico and Costa Rica remain in the middle, while Thailand ranked eighth, primarily due to the export of metal and paper waste and scrap.  The MICI highlighted that 74.1% of exports went to countries with existing trade agreements, demonstrating the importance of these treaties for the country’s international presence.

The European Union emerged as the largest trading bloc, accounting for 18.7% of exports, followed by the Latin American Integration Association (LAIA) with 12.4% and the Central American Common Market with 10.2%.  Regarding exported products, the Ministry of Industry and Trade (MICI) clarified that bananas remain the main product, representing 17.5% of the total.  This was followed by frozen shrimp at 13.4%, raw teak at 5.2%, antihistamines and antipyretics at 4.8%, and iron or steel waste at 4.5%.  Also notable were crude palm oil (3.7%), watermelons (3.5%), Portland cement (2.2%), aluminum waste (1.9%) and yellow fin tuna (1.9%).  The Ministry of Industry and Trade (MICI) said the increase in watermelon exports boosted its entry into the top 10 exported products, displacing fishmeal, which had maintained a steady presence on the list since 2023.  “Together, these 10 tariff items represented 58.6% of the total value exported during the first quarter of 2025,” he noted.

“This historic record in Panamanian exports reflects the effort and commitment of our exporters, as well as Panama’s potential for continued growth in international markets. With each achievement, we reaffirm our ability to offer diversified, quality products to the world.” Julio Moltó – Minister of Mici