Jamaica-Panama Bilateral Trade Analysis 2023
Complete trade statistics: $108.23M total volume •Jamaica deficit: $66.20M
Jamaica → Panama
$21.01M
Exports (2023)
Panama → Jamaica
$87.22M
Imports (2023)
Trade Balance
$66.20M
Deficit for Jamaica
Total Trade
$108.23M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Jamaica and Panama. Green line shows exports from Jamaica, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Jamaica-Panama commercial relationship and competitive positioning in global markets.
Jamaica → Panama Exports
Export Market Intelligence
🎯 Strategic Export Focus
Jamaica's export portfolio to Panama demonstrates strategic specialization, with petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils representing a key competitive advantage in this bilateral market.
Panama → Jamaica Imports
Import Dependency Profile
📦 Import Strategy Analysis
Jamaica's import pattern from Panama reveals significant dependencyin medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Jamaica demonstrates competitive strength in exportingpetroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils to Panama, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $108.23M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Jamaica-Panama Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $108.23 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Jamaica maintains a deficit of $66.20 million
- Export Focus: Jamaica's primary exports include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, plastics: boxes, cases, crates and similar articles for the conveyance or packing of goods, ferrous waste and scrap: n.e.c. in heading no. 7204
- Import Dependencies: Key imports from Panama include medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, paper and paperboard: folding cartons, boxes and cases, of non-corrugated paper or paperboard, cement: portland, other than white, whether or not artificially coloured
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $108.23M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Jamaica leveraging its comparative advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Jamaica's specialization in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oilscomplements Panama's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $108.23M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $108.23M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $108.23 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils and medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Jamaica's trade deficit of $66.20 million impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Jamaica and Panama represents a total trade volume of $108.23 million in 2023. This partnership demonstrates an unfavorable trade balance for Jamaica, with imports exceeding exportsby $66.20 million.
Export Strengths
Jamaica's exports to Panama total $21.01 million, with competitive advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, representing $11.30M or53.8% of bilateral exports.
Import Dependencies
Imports from Panama amount to $87.22 million, highlighting economic interdependence in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, with Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale comprising23.1% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Jamaica's strategic sourcing from Panama. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Jamaica and Panama in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023