Panamanian Exports Change Destination

In the last three years the United States has ceased to be the main destination for Panama's exports.

Tuesday, August 16, 2011

Figures from the Controller General's Office indicate that the total exports to the U.S. have dropped by almost half since 2008, going from $434.8 million to $211.4 million in 2010.

"Shipments also reduced in volume, in 2008 258.3 million kilos were exported, while only two years later the figure was 141 million kilos.

The situation does not seem to be improving. In the first quarter of 2011 products worth $32 million were sent to the US, representing 13.4 million dollars less than in same period in 2008.

But the picture looks encouraging when looked at from another perspective, sales to markets such as China, South Korea, India, Canada and Sweden have had significant increases. Exports to China during the first three months of 2011 numbered $10 million, reflecting an increase of $3.24 million compared to the same period in 2010", reported Panamaamerica.com.pa



More on this topic

Slow Recovery in Sales to the U.S.

January 2010

In November, Guatemalan exports to the U.S. fell less than previous months.

According to data provided by the Central Bank of Guatemala, sales to the United States dropped 2.5% in November 2009, when compared to the same month of the previous year.

"In August 2009, the variation was -8.6%, in September -6.7%, and in October -5.4%", reported Sigloxxi.com, signaling the positive evolution of these figures.

Costa Rican exports depend less on the United States

August 2008

The marketing of Costa Rican goods in the US went from 47% of country's total exports in 2003 to 35% in 2007.

Products such as medical equipment for IV infusions, gold coffee (top quality), pineapples, and foods such as breads, sauces, etc., continue to sell in the EU, but their sale is now stronger in Asia, Central America and even the European Union, according to information from the Foreign Trade Promoter (Procomer).

Nicaragua boosts exports to US by 18 percent

June 2008

Nicaragua's exports to the United States rose by 18 percent in this year's first quarter, compared with the same period of last year.

Paul Trivelli, the US ambassador to Managua, said the increase was a result of the introduction of Cafta. Nicaragua exported goods worth US$417 million to the United States in the first quarter.

Guatemala's exports to the United States increase

June 2008

In the first three months of this year, Guatemala exported 849.77 million dollars worth of goods to the United States, an 11.71 per cent increase over the same period of 2007, despite the prospect of a slowdown in the U.S. economy.

However, as the experts predicted, not all products shared in the growth. Some, like agricultural products, did well and others, like manufacturing, did poorly.

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