Panama - Exports of Goods and Services

Panama: Exports of Goods and Services

Mnemonic EX.IPAN
Unit Mil. PAB
Annual 23.65 %
Data 2020 20,773
2019 27,208

Series Information

Source Instituto Nacional De Estadistica y Censo (INEC)
Release GDP by Expenditure
Frequency Annual
Start Date 12/31/2007
End Date 12/31/2020

Panama: Trade

Reference Last Previous Units Frequency
Balance of Goods 2022 Q2 -1,338,669,260 -1,581,882,239 USD, NSA Quarterly
Current Account Balance 2022 Q2 116.77 -652.73 Mil. PAB, NSA Quarterly
Exports of Goods 2021 13,161 9,482 Mil. USD Annual
Imports of Goods 2021 20,595 14,739 Mil. USD Annual
Exports of Goods and Services 2020 20,773 27,208 Mil. PAB Annual
Imports of Goods and Services 2020 19,300 29,002 Mil. PAB Annual
Net Exports 2020 1,473 -1,794 Mil. PAB Annual
Real Exports of Goods and Services 2020 18,498 23,694 Mil. 2007 PAB Annual
Real Imports of Goods and Services 2020 18,094 26,655 Mil. 2007 PAB Annual
Real Net Exports 2020 404.43 -2,961 Mil. 2007 PAB Annual

Release Information

For Panama, annual and quarterly national accounts, expenditure approach (use of GDP) at current and constant prices, production approach (gross value added by industry) at constant prices.


  • National accounts framework:
  • Industry classification: CINU-2010
  • Measurements:
    • Millions of Panamanian balboas at constant year-2007 prices (Mil. 2007 PAB)
    • At current prices (Mil. PAB)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequencies:
    • Quarterly
    • Annual
  • Start dates:
    • GDP(E) - Uniformly 2007Q1
    • GDP(O) - Uniformly 2013Q1


  • GDP(E) at 1996 prices - 1996 to 2012
  • GDP(O) at 1996 prices - 1996 to 2013

The source writes:

The Bureau of Statistics and Census of the Comptroller General of the Republic hereby presents the methodologies used to calculate the main variables of the Annual National Accounts in Panama, from the main components of gross domestic product (GDP). For the base year 2007 was prepared Table Supply and Utilization (COU), which is a picture of macroeconomic consistency, which has produced and imported supply and destination for goods or services (consumed, invested or exported) in addition to the components of production, intermediate consumption and value added according to economic activity. Because of the complexity of its preparation, years that are not available a calculation of the series in economic activities are applied to the base year annual indicators associated with each activity. Here are the main methodological aspects used for measuring the value added in the various categories of economic activity that make up the GDP and of their components of income and expenses.

The COU was prepared by object produced by row and by economic activity as column, only for the base year 2007. For 2007, all activities were confronted in their levels of production, use of goods and consistency between supply, including imported, and their use as inputs or final demand. Where there were inconsistencies, was used to investigate direct sources alternative references. In calculating the series for economic activities, information is used from surveys, financial, and administrative records. For some activities data which do not have adequate coverage, applies to the base year data, an Annual indicator associated with the activity. The SNA recommends that if possible, be made regular changes of base year even five years each.

Moody's Analytics supplements

We produce:

  • NSA identities for trade balance and gross capital formation at current and constant prices.
  • SA supplements for all seven concepts, at both current and constant prices; six are directly adjusted, and GCF is an additive identity. Under our method, the year-over-year growth rate of our supplements aligns with that of the NSA fundamentals.
  • SA deflators.

Revisions to previous years are common.