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The United States exported $4.3 billion in merchandise to Panama in 2009, up from $2.2 billion in 2005. That was a 99 percent increase over the 2005-09 period, well above the 17 percent increase in U.S. exports to the world. Panama was the 40th largest market for U.S goods in 2009, out of a total of 232 markets.
Eleven states exported $50 million or more in goods to Panama in 2009. Eight of these states exported goods worth more than $100 million.
Florida and Texas were the top state exporters to Panama in 2009. Florida recorded merchandise exports of $960 million to Panama, while Texas recorded shipments of $918 million. Together, these two states accounted for 44 percent of total U.S. goods exported to Panama in 2009.
Other states that posted significant export totals to Panama in 2009 were Mississippi ($419 million), Louisiana ($376 million), California ($229 million), Georgia ($146 million), Washington ($136 million), New Jersey ($103 million), New York ($92 million), and Illinois ($86 million).
Forty-one of the states increased their merchandise exports to Panama from 2005 to 2009. Florida recorded the largest dollar increase, boosting shipments to Panama by $535 million—from $425 million in 2005 to $960 million in 2009. Other states with noteworthy increases in export value to Panama over the 2005-09 period were Texas (up $487 million), Mississippi (up $350 million), Louisiana (up $213 million), and Washington (up $111 million).
Manufactured goods made up 91 percent of U.S. merchandise exports to Panama in 2009. Petroleum and coal products was the largest manufactured export category, with $1.5 billion, or 35 percent of total U.S. shipments of merchandise. Other significant manufactured export categories were aerospace products and parts ($238 million); communications equipment ($146 million); computer equipment ($113 million); soaps and cleaning products ($113 million); and motor vehicles ($113 million).
The United States also exported significant amounts of unprocessed agricultural commodities to Panama in 2008. Shipments of unprocessed oilseeds and grains totaled $121 million, accounting for 3 percent of total U.S. exports to Panama.
In dollar terms, the leading growth category among manufactured exports to Panama was petroleum and coal products. Export shipments of these products grew $934 million during the 2005-09 period, growing from $560 million to $1.5 billion. Other manufactured export categories that registered large dollar growth during this period were communications equipment (up $93 million); aerospace products and parts (up $83 million); agricultural and construction machinery (up $75 million); and basic chemicals (up $66 million).
In percentage terms, the fastest-growing categories among U.S. manufactured exports to Panama were iron, steel and ferroalloy; steel products and purchased steel; railroad rolling stock; crowns, closures, seals and other packing accessories; and other fabricated metal products. All of these rose by more than 330 percent from 2005 to 2009.
A total of 7,600 U.S. companies exported merchandise to Panama in 2007 (the latest year for which data are available). Of those, 6,289 (83 percent) were small and medium-sized enterprises (SMEs), with fewer than 500 employees.
In 2007, U.S. SMEs exported $1.1 billion in merchandise to Panama. This represented 33 percent of total known U.S. exports to Panama, above the 30 percent SME share of U.S. exports to the world.
Source: Origin of Movement State Export Series and Exporter Database, U.S. Census Bureau.
Caution: The Origin of Movement series allocates exports to states based on transportation origin, i.e., the state from which goods began their journey to the port (or other point of exit) from the United States. The transportation origin of exports is not always the same as the location where the goods were produced. Consequently, conclusions about "export production" in a state should not be made solely on the basis of the Origin of Movement state export figures.