As of 2014, the Republic of Panama mainly imports consumer goods, fuels, industrial supplies, machineries and transportation equipment. The country's trading partners are China and the countries in America, including the United States, Mexico, Venezuela, Colombia and Ecuador. Panama also imports goods from Sweden, Spain, South Korea, Singapore and Japan. As of 2014, China is the biggest import partner of Panama, providing about 35 percent of the country' total imports.Continue Reading
Panama's economy is largely reliant on its service sector catering to the banking, commerce, trading and tourism industry. Its economy is based on tourism, port activities, canal fees and agricultural exports. As of 2014, it has the largest shipping fleet in the world, but it imports most of its ships, as well as computer and electronic products, from the United States. As of 2014, China is the largest individual supplier of merchandise goods in the Colon Free Trade Zone in Panama.
The agriculture sector used to be the dominant economic contributor in the country, but it was largely neglected after the opening of the Panama Canal. As of 2014, the country is a net food importer and imports potatoes, onions, rice, maize, as well as fish and forest products. The United States is its main supplier, though it imports agricultural crops from Holland and other nearby countries.Learn more about Central America