Doing Business with Panama Guide

Panama overview

Panama lies on the narrow land bridge which divides North America and South America. Panama borders the Caribbean Sea to the north and the Pacific Ocean to the south. The Republic of Columbia lies to the east of the country, with the Republic of Costa Rica to the west.

Panama has been the fastest-growing economy within Latin America for the past ten years. Over the last five years, the annual growth rate has averaged at 5.6% according to the World Bank.

Panama has created the right business environment for multinational companies to set up their regional headquarters and distribution centres. There are currently over 100 companies already set up in Panama, such as Diageo, GSK, Aggreko and Unilever.

With more than US $43.3 billion holdings, the UK is Panama’s second-largest investor. In 2019, exports of UK goods into Panama reached £173 million according to the Foreign & Commonwealth Organisation.

There are a number of opportunities in Panama for UK companies, such as in the agriculture, education, electricity generation, infrastructure, ports and maritime, and power and renewable energy sectors.

About this guide

This guide aims to provide a route map of the way ahead, together with signposts to other sources of help.

The main objective of this Doing Business with Panama Guide is to provide you with basic knowledge about Panama; an overview of its economy, business culture, potential opportunities and to identify the main issues associated with initial research, market entry, risk management and cultural and language issues.

We do not pretend to provide all the answers in the guide, but novice exporters in particular will find it a useful starting point. Further assistance is available from the Department for International Trade (DIT) team in Panama. Full contact details are available in this guide.

To help your business succeed in Panama we have carefully selected a variety of essential service providers as ‘Market Experts’ Click Here

The guide is available in 4 formats:

this website
a ‘free’ downloadable 'mobile device-friendly’ app – available from the Apple App Store and Google Play Store
a full colour hard-copy brochure (to order your copy please Click Here)
PDF download/e-flipbook (available to download below)

About IOE&IT

An introduction to the Institute of Export & International Trade

Established in 1935, the Institute of Export & International Trade is the professional membership body representing and supporting the interests of everyone involved in importing, exporting and international trade. Offering a unique range of individual and business membership benefits and a world renowned suite of qualifications and training, the Institute is the leading authority in best practice and competence for businesses trading globally.

To view other videos, please visit the IOE&IT YouTube Channel.

For more information visit: www.export.org.uk