Salt, pure NaCl and sea water market in Panama

Earlier Report Observations

The Panamanian salt market underwent notable changes from 2018 to 2020. A reduction of import tariffs from 90% to 16% in 2018 facilitated the entry of Colombian salt, boosting imports and contributing to a market volume of 32 556 t. Favorable weather conditions linked to El Niño and investments in automated packaging by local cooperatives supported domestic production. The market expanded by 38% in 2019 to 44 804 t, driven largely by a rise in local output to 27 721 t, despite producer concerns about competition from non‑iodinated imports. However, adverse rainfall and climate events in 2020 damaged salt harvests, cutting production and causing imports to plummet to 5 110 t, which pulled the market size down to 30 343 t.

Recovery followed in 2021, with market volume rebounding to 44 009 t as imports surged to 19 927 t, offsetting ongoing production losses from persistent weather challenges. The National Federation of Salt Cooperatives (FENCOSPA) maintained reserves and introduced imported machinery to improve packing efficiency. In 2022, the Ministry of Health implemented its Action Plan (2022‑2025) to reduce salt and sodium consumption through educational campaigns and regulations. This public‑health initiative coincided with a drop in market volume to 40 042 t, as both production and imports declined.

Import volumes continued to fluctuate in the later years, rising to 23 759 t in 2023 before falling to 5 304 t in 2024.

Production salt, pure NaCl and sea water in Panama

In kind, 2017-2020, t

Top producers of salt, pure NaCl and sea water, 2017-2020

World map of production of salt, pure NaCl and sea water, 2017-2020

In Panama, production of salt, pure NaCl, and sea water reached 25,259 tonnes in 2020, marking an 8.9% decrease from the previous year. Looking at the period from 2017 to 2020, overall production grew by 33.9%, which translates to an average annual increase of 10.2%. The lowest production level was recorded in 2018 at 17,490 tonnes, while the peak occurred in 2019 with 27,721 tonnes. The most significant year-on-year surge was in 2019, when production jumped by 58.5%.

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

Exports salt, pure NaCl and sea water from Panama

Exports in kind, t

The export market for salt, pure NaCl, and sea water from Panama showed considerable instability over the observed period. Exports hit their lowest point in 2017 and peaked in 2018, with an 85-fold difference between these two years. In 2020, exports totaled 26 tonnes, representing a sharp year-on-year decline of 90.6%. The highest export volume was recorded in 2018 at 2,115 tonnes, which also saw the largest increase of 8,404.4% compared to the previous year.

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

From 2017 to 2020, Honduras played a dominant role in Panama's exports of salt, pure NaCl, and sea water, accounting for 90.6% of the total export volume.

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

The value of exports exhibited high volatility during these years. Exports reached their lowest point in 2017 and peaked in 2018, with a 13.1-fold increase between these two years. In 2020, export value stood at 20,000 US dollars, down 25.7% from the previous year. The highest value was recorded in 2018 at 63,000 US dollars, which also saw the largest increase of 1,206.4%. The most significant decline occurred in 2019, with a drop of 56.9%.

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

Between 2017 and 2020, the main destinations for Panama's salt, pure NaCl, and sea water exports in value terms were Colombia (33.9%), Guatemala (10.2%), and Jamaica (9.5%). Together, these three countries accounted for 53.6% of total export value.

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

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

Imports salt, pure NaCl and sea water to Panama

Imports in kind, t

Import volumes for salt, pure NaCl, and sea water into Panama were highly volatile during this period. Imports reached their lowest level in 2020 and peaked in 2019, with a 3.4-fold difference between these years. In 2020, imports totaled 5,110 tonnes, reflecting a 70.6% decrease compared to 2019. The highest import volume was recorded in 2019 at 17,364 tonnes, while the largest increase of 2.3% occurred in 2018.

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

From 2017 to 2020, the primary suppliers of salt, pure NaCl, and sea water to Panama by volume were Chile (64.0%), Colombia (9.0%), and the Dominican Republic (7.5%). Collectively, these three countries made up 80.5% of total imports.

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

Imports of salt, pure NaCl, and sea water into Panama declined for the second consecutive year in 2020, with the value totaling 1,516,000 US dollars, down 17.7% year-on-year. Over the period from 2017 to 2020, imports decreased by 24.1%, averaging an annual decline of 8.8%. The peak import value was recorded in 2018 at 2,074,000 US dollars, which also saw the largest increase of 3.8%.

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

Between 2017 and 2020, the main suppliers of salt, pure NaCl, and sea water to Panama in value terms were Chile (23.1%), the United States (22.3%), and Colombia (16.5%). Together, these three countries accounted for 61.9% of total import value.

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

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