Panama is one of the fastest-growing economies in Latin America. The United States exported a record of nearly $667 million in agricultural products to Panama during the 2014 fiscal year, up nearly 17 percent from the prior year. Top exports included soybean meal, corn, dairy, wheat, and processed food products.

The U.S.-Panama Trade Promotion Agreement entered into force on October 31, 2012, granting U.S. exporters immediate duty-free treatment on products accounting for more than half of current trade. Tariffs on most remaining agricultural products will be phased out within 15 years. Moreover, the two countries signed a far-reaching agreement on sanitary and phytosanitary (SPS) measures and technical standards that eliminated long-standing regulatory barriers faced by a variety of U.S. products in the Panamanian market.

The new trade agreement, combined with 2014 completion of the Panama Canal expansion project, points to strong future trade and economic growth in Panama.

Data & Analysis

October 12, 2016
This biannual report, published in April and October, report includes data on U.S. and global trade, production, consumption and stocks, as well as analysis of developments affecting world trade...
June 24, 2016
Free Trade Agreements (FTAs) help expand foreign markets for U.S. producers and exporters by reducing trade barriers, fostering a more stable and transparent environment for trade and investment...
June 21, 2016
Graphic illustrating the growth of U.S. agricultural exports in response to trade agreements over the past 70 years.
April 25, 2016
The United States is the world’s largest producer of beef but it also imports more beef than any other country.