Panama's economy is based mainly on tertiary sector activities accounting for about 76% of the Gross Domestic Product (GDP). Within this sector, foreign trade activities represent one of the most important engines of the country's economic growth.
At the closing of 2015, imports totaled $12,136.1 million in CIF terms, of which $11,496.3 millons (94.7%) reprensent the value of the products, and was earned $639.8 millons correspond to taxes. The main origins of the goods imported to Panama are the United States, China, Costa Rica and the Petroleum Free Zone and Colon Free Zone. The main imported products are fuels and minerals, vehicles, pharmaceuticals and chemical products, and machinery and electrical products.
For the same period, exports amounted to $695.7 million in FOB terms, with a total net weight of 1,031 million kilograms. The main exports are gold; bananas; shirmps and prawns; copper, iron and other scrap products; and pineapples. The main exporting markets are United States, Germany, Canada, Costa Rica, China and the Netherlands.