Panama Ends 2025 With A 15-Year Export Record, Then Bets Big On 2026

Key Points

• Panama says 2025 delivered its strongest export performance in 15 years, led by shrimp, bananas, watermelon, and sugar.
• Special regimes did heavy lifting: free zones, multinational headquarters, film production, and a streamlined investor program.
• The 2026 plan targets diversification beyond the Canal economy, a stronger “Made in Panama” push, and faster-growing services exports.

Panama is known for moving the world’s cargo. In 2025, the government argued it is getting better at selling its own goods, too.

The Ministry of Commerce and Industries reported registered goods exports of USD 905.4 million in the first eleven months of 2025, an increase of 2.9% year-on-year. When exports from special regimes are included, total exports reached USD 1.193 billion between January and November 2025, a 0.9% increase year-on-year.

Earlier in the year, Intelcom reported total January exports of B/.98.8 million, a 15.8% increase year-on-year, while INEC data showed first-quarter national goods exports FOB at B/.249.1 million, up 32.7%. The Netherlands, Taiwan, and the United States ranked among key destinations.

Investment policy was the second pillar. The ministry said free zones captured USD 202.8 million in approved investments and were projected to generate about 1,401 direct jobs in 2025. The SEM regime for multinational regional headquarters added $28 million.

Panama Ends 2025 With A 15-Year Export Record, Then Bets Big On 2026

The audiovisual push drew $24.8 million tied to 31 international productions. The Qualified Investor program issued 613 certificates since launch, mobilizing about $309.8 million, and 2025 brought a digital platform meant to cut delays and paperwork.

SEM is also being sold as jobs and know-how. Officials pointed to 8,359 direct SEM jobs in 2024 and 12 new SEM companies that year with $24.2 million in investments, plus spillovers for local legal and accounting services.

Not everything is smooth. Banana exports remain a flagship, but Bocas del Toro has felt disruption. The ministry said it backed a memorandum with Chiquita Panama LLC to reactivate employment, aiming for 5,000 jobs, with 3,000 already active by late 2025.

For 2026, the roadmap centers on predictability: an Office Hecho en Panamá, more trade missions, and deeper market-access talks including Mercosur engagement.

There will be a bigger focus on “modern services” exports such as software, IT, cybersecurity, professional services, finance, audiovisual production, and telemedicine.

Reported targets put 2025 exports around $1.305–$1.343 billion, with ambition up to $1.5 billion in 2026 if momentum holds.

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