Indonesia exported US$59.49 million worth of vehicles (excluding railway or tram equipment) to Panama in 2023.

Indonesia recorded exports to Panama worth US$185.65 million as of December 2023. This figure represents an 8.94% increase compared to the previous year's exports, which were recorded at US$170.41 million.

Indonesia's trade record with Panama shows an upward trend in exports over the past 10 years. 2023 marks a historical record with the highest export value ever recorded.

Of the 97 products (two-digit HS codes) exported to Panama, 36 products were worth more than one billion dollars. Furthermore, according to Trademap data, there are 46 main Indonesian products exported to this country annually. In other words, these products are Indonesia's main export commodities to Panama. Most of the other products are also exported to many other countries.

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

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



In first place, Indonesia exports a large quantity of Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof. In the Trademap classification, Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof fall under the HS code 87 category. In 2023, Indonesia recorded exports worth US$59.49 million. The export value of Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof increased compared to the previous period, which was recorded at US$39,328,000.


2. Footwear, gaiters and the like



Second, Indonesia's largest export is Footwear, gaiters and the like. The export value to Panama in 2023 was recorded at US$41.52 million. This figure is lower than the previous period, which reached US$49,953,000.


3. Electrical machinery and equipment and parts thereof



Indonesia recorded exports of this product to one country. Exports of Electrical machinery and equipment and parts thereof to this country are the largest. In 2023, Indonesia recorded exports worth US$26.49 million. Other countries in the top five export destinations are China, the United States, Hong Kong, China, Germany, and Singapore.


4. Rubber



Indonesia also exports a large amount of Rubber to Panama. The export value of this product was US$8.25 million. This figure is up from the previous period, which was recorded at US$3,747,000. Trademap data shows that Indonesia's trade activity exporting Rubber is to 4 countries. Rubber exports to this country are the largest. Other countries in the top five export destinations are the United States, Germany, China, Mexico, and France.


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



Indonesia's export destination for this product is one country. Exports of Articles of apparel and clothing accessories, knitted or crocheted to this country are the largest. In 2023, Indonesia recorded exports worth US$6.84 million. Other countries in the top five export destinations are the United States, Germany, France, Japan, and Spain.