Driven by the Fishing Sector Panama’s Exports to Ecuador Rise 218%

Panamanian exports to Ecuador saw an impressive surge in 2025, growing by 218 % compared to the previous year. According to the Ministry of Commerce and Industry (MICI), these sales increased from $2.1 million in 2024 to $6.5 million in 2025, primarily concentrated in the fishing sector, with more than twenty products exported.  The MICI also highlighted the sustained presence of Ecuadorian capital in Panama, especially in banking, manufacturing, food, retail and energy, which demonstrates the confidence of Ecuadorian businesspeople in the Panamanian business climate. 

This strengthens the bilateral relationship and opens doors to new trade opportunities.  The ministers of both countries agreed in Davos on the importance of moving towards deeper economic integration.  Panama’s exclusion from Ecuador’s tax list last August allowed negotiations to resume for a Partial Scope Economic Complementation Agreement, which would facilitate trade, investment, and production linkages between the two countries.   Ecuador is confident of closing a preliminary agreement in the first quarter of 2026, consolidating Panama as one of its strategic partners. 

MICI in Panama stands for the Ministerio de Comercio e Industrias (Ministry of Commerce and Industries), the government body responsible for developing and executing policies related to trade, industry, foreign investment, and the exploitation of natural resources in Panama, aiming to boost the country’s economic competitiveness and development. It supports local businesses, attracts foreign investment, promotes exports, and manages key sectors like mining and free zones, working to position Panama as a regional trade hub. 

Key Functions of MICI:

Investment Promotion: Attracts foreign investment and supports local entrepreneurship.

Economic Policy: Develops strategies for commerce, industry, and technology.

• Trade Facilitation: Manages foreign trade, negotiations, and promotes exports.
• Sector Development: Oversees industries like mining, fisheries, manufacturing, and free trade zones.
• Sustainability: Promotes sustainable industrial development and innovation. 

Examples of MICI’s Work:

• Partnering with CAF to expand free trade zones.
• Collaborating with other agencies (like AMPYME) to help small businesses export.
• Implementing regulations for energy efficiency (EEV).
• Promoting Panama’s advantages for nearshoring operations.