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John

In: Business and Management

Submitted By KidDynomite2
Words 1080
Pages 5
U.S.-Panama
On June 28, 2007, the United States and Panama signed a trade promotion agreement (TPA). Panama approved the TPA on July 11, 2007. The United States has not yet approved the TPA. Panama is currently our 56th largest goods trading partner with $4.7 billion in total (two way) goods trade during 2009. Goods exports totaled $4.4 billion; Goods imports totaled $304 million. The U.S. goods trade surplus with Panama was $4.1 billion in 2009. Panama was the United States' 40th largest goods export market in 2009. U.S. goods exports to Panama in 2009 were $4.4 billion, down 10.8% ($529 million) from 2008, but up 241% from 1994 (the year prior to Uruguay Round). The top export categories in 2009 were: Mineral Fuel (oil) ($1.5 billion), Machinery ($436 million), Electrical Machinery ($371 million), Aircraft ($236 million) and Special Other (low value shipments) ($191 million). U.S. exports of agricultural products to Panama totaled $362 million in 2009. Leading categories include: coarse grains ($69 million), soybean meal ($52 million), and wheat ($30 million).
Panama was the United States' 95th largest supplier of goods imports in 2009. U.S. goods imports from Panama totaled $304 million in 2009, a 19.8% decrease ($75 million) from 2008, and down 6% over the last 15 years. The five largest import categories in 2009 were: Special Other (Returns) ($91 million), Fish and Seafood ($74 million), Precious Stones (Gold) ($56 million), Sugars (Cane) ($17 million), and Edible Fruits and Nuts ($10 million). The U.S. goods trade surplus with Panama was $4.1 billion in 2009, a 10.1% decrease ($454 million) over 2008. U.S. foreign direct investment (FDI) in Panama (stock) was $7.2 billion in 2008 (latest data available), up 11.3% from 2007. Reported U.S. direct investment in Panama is led by the finance/insurance and wholesale trade sectors. Panama FDI in the United States

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