Selling Stuff to Panama

Last week’s visit to Panama by an important delegation of Canadian companies underlines opportunities for exporters of a wide variety of goods and services.

Even before the Canal expansion project and a commitment to major new infrastructure projects, such as the capital’s metro, Panamanian imports had been growing quickly.

American sales to Panama increased by more than 80% in the period 2007-2008, from $2.7 billion to $4.9 billion.

Canadian exports to Panama grew even faster, from $60 million in 2005 to $125 million in 2008.

In terms of purchasing power, Panama had the fastest growth of any Latin American country between 2005 and 2009, and the International Monetary Fund predicts that it do likewise in the five-year period starting in 2010.

Panama’s main imports – aside from petroleum products – include machinery, motor vehicles, and numerous types of manufactured goods.

Opportunities

• Exporters of machinery and other capital goods
• Exporters of manufactures in general
• Panamanian importer