Panamanian goods exports, excluding copper, grew by 10% in 2024.
- January 29, 2025
- 10:02 am
By the end of 2024, national goods exports (excluding copper) totaled $1.3 billion, an estimated 10% growth compared to the previous year, stated Bianca Morán, president of the Board of Directors of the Panamanian Association of Exporters (APEX) for the 2025-2026 term.
Morán emphasized that with these figures, Panama positions itself as a resilient and constantly evolving country. However, she pointed out that it is crucial to recognize that, although these figures are significant, they remain "modest" when compared to those of other countries in the region, whose exports represent what they achieve in just one month.
We have been a success story in the export of services, remaining at the forefront and becoming the envy of the region. Let’s invest in goods to generate quality products and improve the distribution of wealth in our country,” Morán stated during her inauguration as president of the new board of directors of APEX.
At the same time, Morán stated that despite these limitations, the progress Panama has made in recent years cannot be ignored, particularly in key sectors such as fishing and agroindustry, which have shown significant growth.
She detailed that in the last three years, the fishing sector increased its share of national exports from 13% in 2021 to 25% in 2024, while the agroindustry raised its participation from 17% to 26% in the same period.
These numbers reflect Panama’s potential to diversify and strengthen its export offerings without copper,” Morán stated while breaking down the main national export products and key markets.
The main export products, according to Morán, are bananas, shrimp, fish, coffee, rum, and teak wood, among others, which have found strategic markets in countries such as the United States, the Netherlands, Taiwan, India, and China.
However, “we are still too dependent on basic products, and we must move toward the export of goods with higher added value and differentiation, as demonstrated by successful examples in pharmaceuticals, detergents, custom liquors, and specialized packaging,” Morán expressed.
Job engine
Exports, on the other hand, currently contribute more than 100,000 jobs nationwide. However, there are 24,000 fewer salaried workers than in 2012, and an increase in informality. in crescendo (aumentando progresivamente).
The export sector not only drives the economy but also generates well-being in our communities. We are convinced that, by working together with a government that promotes the private sector, supports innovation, and acts as a facilitator, we will achieve our goal: to establish Panama as a benchmark for sustainable and high-quality exports,” Morán emphasized.
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