Indonesia Is the Largest Exporter of Footwear to Panama

Indonesia recorded exports to Panama of US$170,409 thousand in December 2022. This figure represents an 85.67% increase compared to the previous year's exports, which were recorded at US$91,779 thousand.

Indonesia's trade record with Panama shows a significant decline in exports over the past 10 years. 2022 marked a historical record with the highest export value ever recorded.

Of the 97 products (two-digit HS codes) exported to Panama, 38 products were worth more than one billion dollars. Most of the exported products (49 products) are also exported to other countries in significant quantities.

The following is a list of the top five products exported by Indonesia to Panama, ordered from highest to lowest transaction value:

1. Footwear, headgear and the like

Indonesia exported a significant amount of footwear, headgear and the like. In the Trademap classification, footwear, headgear and the like fall under HS code 64. This product category is grouped together with and includes parts of such articles. In 2022, Indonesia exported US$49,953 thousand. Exports of footwear, headgear and the like; parts of such articles increased compared to the previous period, which recorded US$22,080 thousand.

2. Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof

Indonesia's second largest export to Panama was vehicles other than railway or tramway rolling-stock, and parts and accessories thereof. The export value in 2022 was recorded at US$39,328 thousand. This figure increased compared to the previous period, which recorded US$27,859 thousand.

3. Electrical machinery and equipment and parts thereof

Indonesia exports this product to 164 countries. Exports of electrical machinery and equipment and parts thereof to Panama ranked 33rd. In 2022, Indonesia recorded exports of US$33,026 thousand. Other top five export destinations include Singapore, the United States, Japan, the Republic of Korea, and Hong Kong, China.

4. Articles of iron or steel

Indonesia exports this product to 130 countries. Exports of articles of iron or steel to Panama ranked 31st. In 2022, Indonesia recorded exports of US$8,047 thousand. Other top five export destinations include Singapore, Taipei, China, the United States, Japan, and Qatar.

5. Articles of apparel and clothing accessories, knitted or crocheted

Indonesia also exported a significant amount of articles of apparel and clothing accessories, knitted or crocheted to Panama. The export value of this product in 2022 was US$6,862 thousand. This figure increased compared to the previous period, which recorded US$3,406 thousand. Trademap data shows that Indonesia exports articles of apparel and clothing accessories, knitted or crocheted to 154 countries. Exports of articles of apparel and clothing accessories, knitted or crocheted to Panama ranked 33rd. Other top five export destinations include the United States, Japan, Germany, the Republic of Korea, and Canada.