BY LBC STAFF
Panama is the 13th-largest trading partner in Latin America for the United States, according to a Latin Business Chronicle analysis of data from the U.S. Census Bureau.
Last year U.S.-Panama trade grew 40.3 percent to $6.4 billion, according a Latin Business Chronicle analysis. That was the highest increase in Latin America.
Two-way trade is dominated by U.S. exports to Panama, which last year reached $6.1 billion, an increase of 41.4 percent. That was also the highest growth of any U.S. market in Latin America. Imports from Panama grew 25.3 percent to $379 million.
During the first half of this year, trade reached $3.8 billion, a 17.1 percent increase from the first half in 2010, according to another Latin Business Chronicle analysis. That was the fifth-lowest growth among the US trade partners in Latin America.
U.S. exports grew by 18.5 percent to $3.6 billion, while U.S. imports from Panama fell 4.2 percent to $188 million.
LAGS CANADA AND CHINA
Panama's trade with the United States last year grew faster than with the European Union (down 1.6 percent), but lagged trade with China (up 82.9 percent) and Canada (up 61.6 percent).
Meanwhile, trade between the United States and Panama last year was smaller than Panama's trade with Singapore, which reached $7.5 billion, according to a Latin Business Chronicle analysis.
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