The United States remains a market to conquer

Despite the fact that new markets are opening up for Panamanian goods and products, such as the Caribbean, the United States of America, our main trading partner, remains the country of choice for the nation’s exporters.

“It is a market that can absorb our agricultural, agro-industrial and industrial offer for export. It is quite developed and the aspiration of local exporters is to be able to reach that market,” said Víctor Pérez III, president of the Panama Association of Exporters (Apex).

Two facts highlight, in recent months, the interest in reaching the North American nation.

First of all, last year prefabricated houses started to be exported to the USA, which is something innovative on the domestic export market.

On the other hand, during Expocomer 2023, a memorandum of understanding was signed with the Eastern United States Supermarket Association to begin promoting Panamanian products.

“To get to that market, you have to be prepared and do the work beforehand before you start exporting to make sure that when you get there, you can serve it effectively,” the Apex president said.

According to the information provided by the Deputy Ministry of Foreign Trade, the United States is the main destination of our exports with 117.4 million dollars by November 2022.’

in 2023

a memorandum on export to American supermarkets was signed.

1,008

million dollars exported in copper to China during the past year.

The Netherlands follows with 105.5 million dollars; Taiwan, with 60.5 million dollars; China, with 57.7 million dollars; India, with 48.5 million dollars; Costa Rica, with 37.7 million dollars; and Mexico, with $35.6 million.

At the copper level, China is the main destination with $1,008 million, followed by Japan with $541.6 million and South Korea with $242.7 million.

Caribbean

Antilles is currently an available market for Panama.

A non-traditional product that finds a place on the islands is cement, which was exported, for example, to Jamaica and the Bahamas.

They are also interested in our agricultural and food sector, which has led to the strengthening of fruit exports, because customs are favorable.

“Sending pineapples to Curaçao is not the same as sending pineapples to China,” summarized Pérez III, explaining that the Caribbean is a more manageable market for them.

New products

In addition to prefabricated houses, other products that have joined the list of Panamanian exports include fresh papaya, pasteurized yogurt, fish skin, cobia for collagen production, ginger, bottled water, fruit juices, detergents and galvanized steel roof tiles.

Recently, the Ministry of Trade and Industry (Mici) released export statistics in 2022, which totaled $3,868.3 million, of which $2,797.2 million corresponds to copper and $1,071.1 million to non-copper products.

“Panama continues to conquer the quality of its products and reach new horizons, increasing exports. The strategy is to strengthen traditional exports and promote exports of value-added products to conquer more markets,” said Eric Dormoi, Director of Export Promotion. .