Pharmaceuticals Export of Panama: The Trade Analysis of 2024

Panama is a topmost exporter of pharmaceuticals in the international trade market with a thriving production rate of the manufacturing industry. The pharmaceutical exports of Panama have indulged the country in ranking 9th among topmost exporters. Panama Import Data says the Local Support for Medical Equipment and Surgical Project Manufacturing with the government agreement initiatives for preferential trade has fostered the overall revenue rate. The rising regional healthcare demand and the logistics increase have enabled efficient Pharma distribution from Panama to expand its services in Central and South America.

The rise in the global aged population and the increasing awareness of the industrial sectors of Panama towards efficient supply of global acquisitions has led to an export trade value of 4 billion US dollars of pharmaceuticals from the nation in 2024. Import Globals with its Panama trade data gives a detailed analysis of the overall amount of pharmaceuticals exported from the nation to the topmost importers, catering to the needs of the business holders regarding the latest acquisitions for beneficial trade expansion.

GOVERNMENT INITIATIVES SUPPORTING THE EXPORT TRADE OF PHARMACEUTICALS FROM PANAMA IN 2024

The stability in the efficient pharmaceutical global export is maintained by the initiatives implemented by the authorities. The modernized regulatory system under law 419 has enhanced pharmacovigilance measures, facilitating faster approval and market entry for pharmaceutical exports. The collaboration with UNIDO to develop a pharmaceutical hub has strengthened the value chains while promoting manufacturing infrastructure and encouraging the innovation and research systems of Panama.

The free and export processing zones of Panama has streamlined the administrative procedures while making the sector advantageous for pharmaceutical manufacturers to produce and export essentials within this zone. The EMMA program has also streamlined visa policies for staff and immigration benefits. This initiative has nurtured the business environment tailored for export-oriented pharmaceutical production.

THE LEADING VARIANTS OF PHARMACEUTICALS EXPORTED FROM PANAMA IN 2024

Panama has been a topmost trader of pharmaceuticals in the global market for several years and has introduced more of its domestic productions to international exports. According to the Panama Export Data, the top 10 leading variants of pharmaceuticals exported from the nation in 2024 are,

  1. Medicaments — The total value of Medicaments exported from Panama in 2024–1 billion US dollars
  2. Surgical Instruments & Appliances — The total value of Surgical Instruments & Appliances exported from Panama in 2024–965 million US dollars
  3. Essential Oils & Resinoids– The total value of Essential Oils & Resinoids exported from Panama in 2024–768 million US dollars
  4. Pharmaceutical Preparations– The total value of Pharmaceutical Preparations exported from Panama in 2024–656 million US dollars
  5. Bandages — The total value of Bandages exported from Panama in 2024–578 million US dollars
  6. X-ray Equipment — The total value of X-ray Equipment exported from Panama in 2024–453 million US dollars
  7. Dental Fittings — The total value of Dental Fittings exported from Panama in 2024–389 million US dollars
  8. Orthopedic Appliances — The total value of Orthopedic Appliances exported from Panama in 2024–289 million US dollars
  9. Vaccines — The total value of Vaccines exported from Panama in 2024–178 million US dollars
  10. Surgical Gloves — The total value of Surgical Gloves exported from Panama in 2024–165 million US dollars

THE TOP 10 EXPORT TRADE PARTNERS OF PANAMA IN 2024

The stronger bilateral trade relationship of Panama with emerging markets has been a serving factor towards the stability with emerging markets. According to the Panama Customs Data, the top 10 export trade partners of the nation in 2024 are,

  • United States — The total annual export valuation of pharmaceuticals exported from Panama to the United States in 2024–1.2 billion US dollars

Top 5 variants of pharmaceuticals exported

1. Insulin (human recombinant)

2. Insulin glargine

3. Liraglutide

4. Dapagliflozin

5. Vildagliptin

  • Netherlands — The total annual export valuation of pharmaceuticals exported from Panama to the Netherlands in 2024–867 million US dollars

Top 5 variants of pharmaceuticals exported

1. Metformin

2. Glibenclamide

3. Glimepiride

4. Sitagliptin

5. Pioglitazone

  • Taiwan — The total annual export valuation of pharmaceuticals exported from Panama to Taiwan in 2024–756 million US dollars

Top 5 variants of pharmaceuticals exported

1. Remdesivir

2. Zidovudine

3. Sofosbuvir

4. Ribavirin

5. Entecavir

  • China — The total annual export valuation of pharmaceuticals exported from Panama to China in 2024–689 million US dollars

Top 5 variants of pharmaceuticals exported

1. Oseltamivir

2. Acyclovir

3. Valacyclovir

4. Lamivudine

5. Tenofovir

  • Japan — The total annual export valuation of pharmaceuticals exported from Panama to Japan in 2024–567 million US dollars

Top 5 variants of pharmaceuticals exported

1. Clarithromycin

2. Metronidazole

3. Ceftriaxone

4. Cephalexin

5. Clindamycin

  • South Korea– The total annual export valuation of pharmaceuticals exported from Panama to South Korea in 2024–476 million US dollars

Top 5 variants of pharmaceuticals exported

1. Amoxicillin

2. Azithromycin

3. Ciprofloxacin

4. Doxycycline

5. Erythromycin

  • India — The total annual export valuation of pharmaceuticals exported from Panama to India in 2024–382 million US dollars

Top 5 variants of pharmaceuticals exported

1. Hydroxyzine

2. Levocetirizine

3. Desloratadine

4. Promethazine

5. Doxylamine

  • Germany — The total annual export valuation of pharmaceuticals exported from Panama to Germany in 2024–278 million US dollars

Top 5 variants of pharmaceuticals exported

1. Cetirizine

2. Loratadine

3. Diphenhydramine

4. Chlorpheniramine

5. Fexofenadine

  • Spain — The total annual export valuation of pharmaceuticals exported from Panama to Spain in 2024–165 million US dollars

Top 5 variants of pharmaceuticals exported

1. Ketoprofen

2. Tramadol

3. Morphine

4. Codeine phosphate

5. Fentanyl

  • Costa Rica — The total annual export valuation of pharmaceuticals exported from Panama to Costa Rica in 2024–154 million US dollars

Top 5 variants of pharmaceuticals exported

1. Paracetamol (Acetaminophen)

2. Ibuprofen

3. Aspirin (Acetylsalicylic acid)

4. Diclofenac sodium

5. Naproxen

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