Panama-India Trade Overview

 

Over the years, the bilateral trade between Panama and India has only strengthened. Both the nations are working progressively to enhance bilateral trade through investment across various sectors. The major focus is to enhance the trade of pharma, surgical, food items, handicrafts, office tools, chemicals, leather items, etc. Both are working to facilitate free trade zones to assist domestic import-export companies.

According to Panama import data, Panama had imported around $409 million worth of goods from India during the fiscal year 2022. The top imports by Panama from India were antitubercular drugs, motor cars, motor cars parts, clothing accessories, optical fibres, tobacco, and machinery parts mostly. 

The top exporting companies from India were Macleods pharmaceuticals and Hyundai motors having over 26% share in Panama's overall imports from India. Whereas India export data shows that Panama has imported over $236 million worth of goods from India during this fiscal year 2023. During May 2023, the maximum amount of import shipments were recorded by Panama. Around $98 million worth of items were imported by Panama.  

India’s refined copper was the most demanded product in Panama’s market. Panama customs data reports show that around $38 million worth of copper was imported by Panama this year. Silver, gold jewellery, files, rasps, hand tools, prefabricated buildings, glassware, and footwear are the major imported product items by Panama this year. 

In terms of imports, copper, teakwood, scrap iron, aluminium scrap, stainless steel, machinery, brass scrap and zinc scrap are the major imports of India from Panama. As per Panama export data, refined copper exports to India were recorded to be $21 million during FY 2022. Scrap iron has over 19% share in India’s overall imports from Panama. 

In the current fiscal year, Panama has exported over $122 million worth of goods to India. Copper and teakwood are the most demanded goods in the Indian market. It is known from the fact that together these were responsible for over 90% of Panama's exports to India as suggested by the Panama import export data. 

FQM Trading was the leading export company from Panama to India. Whereas, Sudima International, Maria International, Aron Global and Southeast Global Impex were other major Panama export companies to India. 

As the market is wide open, companies from both countries can access this opportunity with a data driven marketing strategy. Through the intelligence of global import export data, they can access their product demand, price, quantity, competitors and potential customers. You can make important business decisions on these aspects and utilize key performing factors for your business. 

Exim Trade Data is the leading global import export data provider agency offering detailed insights into Panama, India and 100+ other countries. If you are finding it difficult to spot potential leads from the international market then this tool could be a great cost effective option to generate quality international sales for your business. Their industry wise, product wise, port wise, country wise visual reports can help you understand global demand, spot financial risk and increase your sales.