What was the export of non-copper goods in 2022?

The Ministry of Trade and Industry reported this week export of Panama goods in 2022 totaled USD 3,868.3, of which USD 2,797.2 million corresponds to copper products, and USD 1,071.1 million to non-copper products.

The $1,071.1 million includes exports from the manufacturing sectors, which add up to $855 million plus a contribution of $216.1 million from value-added manufacturing shipments from the Free Trade Zones/Panama Pacific Special Economic Zone regime.

Eric Dormoi, National Director of Export Promotion MY CIhe pointed out the increase in certain sectors.

“Export of agricultural sectorsindustrial, agro-industrial and fisheries, from January to December 2022, totaled $855 million, an increase of 14.8% in FOB value, compared to 2021, which amounted to $744.6 million, even exceeding exports achieved in 2010,” explained Dormoi.

The top 5 non-copper products exported in 2022 were bananas, scrap metal, shrimp, fish and palm oil.

10 products with significant growth were tuna legs, cane molasses, shrimp, medicines, fishmeal, cementrum, fertile eggs, corrugated cardboard, oilseeds and fruits.

Among the main markets for products excluding copper were the United States, the Netherlands, Taiwan, sales through the Colon Free Zone and mainland China.

Excluding copper, 77.7% of exports in 2022 were sold to countries with which Panama has a current trade agreement.

In the case of trade blocs as the destination of our exports, the European Union is in first place, followed by the Central American Common Market (MCCA) and the Latin American Integration Association (ALADI).

“Panama continues to conquer with the quality of its products and they are reaching new horizons by increasing exports. The strategy is to strengthen traditional exports and encourage exports of value-added products to capture more markets,” Dormoi added.