Pork market in Panama

Earlier Report Observations

The fresh, chilled, or frozen pork market in Panama contracted sharply in 2019, with volume dropping to 34 376 t from 49 464 t the previous year. This decline followed the full implementation of a new regulation setting specific requirements for meat products under the Panamanian Food Agency (APA), which tightened market access and safety standards. The market began to recover in 2020 and saw strong growth in 2021, reaching 42 903 t, partly driven by the formal establishment of the APA through Law No. 206, which enhanced sanitary controls and likely increased consumer confidence in locally produced pork.

Market volume stabilized around 42 000 t in the following years, dipping slightly to 41 946 t in 2022 and 40 715 t in 2023. During this period, a 30% tariff reduction within the WTO global quota for frozen pork took effect, potentially facilitating imports. New labeling rules requiring the indication of the country of breeding and slaughter for pork improved traceability, while industry reports indicated a rising trend in per capita consumption and domestic production. In 2024, trade agreements continued to favor pork imports from countries like the United States, Canada, and Brazil, and consumer preference for premium fresh cuts remained strong, shaping the market environment.

Production pork in Panama

In kind, 2017-2020, t

Top producers of pork, 2017-2020

World map of production of pork, 2017-2020

In 2020, Panama produced 27 395 tons of pork, marking a modest 3.6% increase from 2019. However, looking at the broader period from 2017 to 2020, production actually fell by 32.2%, which translates to an average annual decline of 12.2%. The lowest production level was recorded in 2019 at 26 445 tons, while the peak occurred in 2018 with 44 024 tons. The most significant drop happened in 2019, down 39.9%, whereas the largest gain was in 2018, up 8.9%.

Annual dynamics of production in Panama in kind, 2017-2020, t

In value, 2017-2020, M $ US

In 2020, the value of pork output in Panama reached 72.0 million US dollars, showing a notable 20.5% rise compared to 2019. Despite this recent uptick, production value decreased by 40% over the 2017-2020 period, averaging an annual decline of 15.6%. The lowest value was in 2019 at 59.7 million US dollars, and the highest was in 2018 at 120.3 million US dollars. The sharpest fall occurred in 2019, down 50.4%.

Annual dynamics of production in Panama in value, 2017-2020, M $ US

Exports pork from Panama

Exports in kind, t

Pork exports from Panama have grown for the third year in a row. In 2020, the country exported 165 tons of pork, reflecting a substantial 33.7% increase from the previous year. Over the 2017-2020 span, exports surged by 114.3%, with a compound annual growth rate of 28.9%.

Annual dynamics of product's exports from Panama in kind, 2017-2020, t

From 2017 to 2020, Hong Kong, Free Zones, and Nicaragua consistently held top spots in Panama's pork export structure by volume. Hong Kong accounted for 12.8% of exports, Free Zones for 2.5%, and Nicaragua for 1.1%. Together, these three destinations made up 16.4% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Panama in kind, 2017-2020

Exports in value, K $ US

Pork export revenues from Panama have risen for the third consecutive year. In 2020, exports were valued at 434 thousand US dollars, indicating a strong 55.6% increase compared to 2019. Between 2017 and 2020, export value grew by 89.8%, with an average annual rate of 23.8%.

Annual dynamics of product's exports from Panama in value, 2017-2020, K $ US

Throughout 2017-2020, Hong Kong, Free Zones, and Nicaragua formed the core of Panama's pork exports by value. Hong Kong represented 6.8% of export value, Free Zones 4.7%, and Nicaragua 1.9%. Collectively, they accounted for 13.3% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Panama in value, 2017-2020

Imports pork to Panama

Imports in kind, t

In 2020, Panama imported 8 042 tons of pork, showing little change from the previous year. Over the 2017-2020 period, imports increased by 33.6%, averaging an annual growth of 10.1%. The lowest import volume was in 2018 at 5 530 tons, while the highest was in 2019 at 8 054 tons. The largest decrease occurred in 2018, down 8.1%, and the biggest increase was in 2019, up 45.6%.

Annual dynamics of product's imports to Panama in kind, 2017-2020, t

From 2017 to 2020, the United States dominated Panama's pork imports by volume, accounting for 89.0% of total flows. Other destinations contributed relatively small shares.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Panama in kind, 2017-2020

Imports in value, K $ US

In 2020, the value of pork imports into Panama was 18 339 thousand US dollars, down 7.8% year-over-year. However, over the 2017-2020 period, import value increased by 22%, with a compound annual growth rate of 6.9%. The lowest value was recorded in 2018 at 13 357 thousand US dollars, and the highest in 2019 at 19 901 thousand US dollars. The most significant decline was in 2018, down 11.1%, while the largest increase was in 2019, up 49.0%.

Annual dynamics of product's imports to Panama in value, 2017-2020, K $ US

During 2017-2020, the United States held a dominant position in Panama's pork imports by value, making up 88.0% of total flows. The remaining share was distributed among various smaller destinations.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Panama in value, 2017-2020