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

August 6, 2015
Panama has approved the import of genetically modified (GM) corn seeds for local production, and has conducted field trials for GM mosquitoes and salmon.
April 9, 2015
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...
March 30, 2015
Central America and the Caribbean, with their close geographical and economic ties to the United States, have always been an important market for U.S. agricultural exports.
December 24, 2014
Panamanian consumers continue perceiving U.S. food products as high quality, wholesome and reliable, which has resulted in a continuous growth in demand of 14.8 % annually.