Panamanian goods exports, excluding copper, grew by 10% in 2024.

The main export products of the country are bananas, shrimp, fish, coffee, rum, and teak wood, among others, which have found strategic markets in countries such as the United States, the Netherlands, Taiwan, India, and China, according to APEX data.

By the end of 2024, national goods exports (excluding copper) totaled $1.3 billion, reflecting an estimated 10% growth compared to the previous year, stated Bianca Morán, President of the Board of Directors of the Panamanian Association of Exporters (APEX) for the 2025-2026 term.

Morán emphasized that with the previous figures, Panama positions itself as a resilient and constantly evolving country. However, she noted that it is crucial to recognize that while these figures are significant, they remain “modest” when compared to those of other countries in the region, whose export volumes represent what Panama exports in just one month.

“We have been a success story in the export of services, staying at the forefront, and we are the envy of the region. Let’s bet on goods to generate quality products and improve the distribution of wealth in our country,” Morán stated during the inauguration ceremony as president of the new board of directors of APEX.

At the same time, Morán pointed out that despite these limitations, Panama’s progress in recent years, particularly in key sectors like fishing and agro-industry, cannot be overlooked, as these sectors have shown notable growth.

She detailed that in the last three years, the fishing sector increased its share of national exports from 13% in 2021 to 25% in 2024, while the agro-industrial sector increased its share from 17% to 26% during the same period.

“These numbers reflect Panama’s potential to diversify and strengthen its export offering without copper,” stated Morán, breaking down the main national export products and key markets.

According to Morán, the main export products include: bananas, shrimp, fish, coffee, rum, and teak wood, among others, which have found strategic markets in countries like the United States, the Netherlands, Taiwan, India, and China.

However, “we are still too dependent on basic products, and we must move towards exporting goods with greater added value and differentiation, as demonstrated by successful examples in medicines, detergents, custom liquors, and specialized packaging,” Morán expressed.

Employment Engine

Exports, on the other hand, also currently contribute to more than 100,000 jobs nationwide. However, today there are 24,000 fewer salaried workers than in 2012, and informal employment is on the rise.

“The export sector not only drives the economy but also generates well-being in our communities. We are convinced that, by working together, with a government that fosters the private sector, supports innovation, and acts as a facilitator, we will achieve our goal: to consolidate Panama as a reference for sustainable and quality exports,” Morán emphasized.