Panama's goods exports total $534.6 million in the first half of the year

During the first half of the year, the average price of bananas rose 2.9% in Europe and 6.3% in the United States. (Courtesy/Bernardino Freire)Between January and June, Panamanian exports of goods totaled $534.6 million. The figure comes from the June 2026 Economic Situation Report of the Directorate of Economic and Social Analysis of the Ministry of Economy and Finance (MEF), prepared with data from the National Institute of Statistics and Census (INEC). The total value of exports fell $151.5 million compared with the same period of 2025, which implied a year-on-year reduction of 22.1%. The decline was explained mainly by the comparison with extraordinary sales of stored material remnants from the copper mining activity recorded in June of last year. Excluding the extraordinary exports linked to the mining remnants, the other national goods sold abroad increased by $18.2 million. Marine products contributed to the strengthening of export activity. (Adobe Stock)That result is equivalent to growth of 3.5% during the first half of the year. The favorable performance was supported by agricultural and industrial products. Among them were melon, watermelon, pineapple, shrimp, coffee, wood, beef, other marine products, and steel, copper, and aluminum scrap. The Ministry of Economy and Finance report indicates that the largest increases by tariff chapters corresponded to gold waste and costume jewelry, which contributed an additional $15.1 million. Exports of wood and wood manufactures increased by $11.4 million. Foreign sales of meats grew by $5.6 million, while those of paper and cardboard advanced by $5.1 million. Excluding the extraordinary exports linked to the mining remnants, the other national goods sold abroad increased by $18.2 million. . EFE/Bienvenido Velasco The fruit group also recorded an increase of $3.9 million. These results sustained the growth of exports not associated with the extraordinary movement of 2025. The recovery of bananas consolidated during the second quarter of 2026. Between April and June, the product's monthly exports exceeded $10 million in each month, according to the official economic analysis. In June, the exported value reached $17.1 million. The figure surpassed the record of March 2025, when foreign sales of bananas had reached $16.4 million before that year's labor stoppage. The Ministry of Economy and Finance linked the improvement to the progressive normalization of productive activities. The agency also noted that prices in international markets favored the value of foreign sales. During the first half of the year, the average price of bananas rose 2.9% in Europe and 6.3% in the United States. The improvement in prices contributed to the rebound in the sector's exports. Two workers load boxes marked with the 'Made in Panama' logo into a shipping container, highlighting the country's export effort. (Illustrative Image Infobae)The reactivation also included the operations of Chiquita Panamá. The company kept nearly 20 banana farms in production and about 5,000 cultivated hectares. The destinations of exports maintained a diversified composition during the period analyzed. The United States led the list with purchases of $94.1 million. Taiwan took second place, with $69.5 million. They were followed by the Netherlands, with $38.3 million, and India, with $37.9 million. Costa Rica received Panamanian products worth $27.4 million during the first half of the year. The distribution of shipments reflected the presence of markets from the Americas, Asia, and Europe among the main buyers. Exports through the Colón Free Zone totaled $42.9 million. The result kept that platform as a point of trade and redistribution of goods. The favorable performance was supported by agricultural products, including watermelon. The figures indicate that the aggregate result for the half-year was influenced by the 2025 comparison base, when exceptional shipments from materials accumulated by copper mining activity were recorded. Without that component, exports of other products showed a growth trajectory. The advances were concentrated in agricultural and industrial sectors, while bananas began to recover part of their productive and export activity.