Panama's Exports: Shrimp Replaces Banana as Top Product

The main export items during this period were: shrimp, which replaced banana as Panama's top export product, teak, coffee, watermelon, medicines, and palm oil. According to projections from the Ministry of Commerce and Industry (Mici), the export sector will end the year with figures similar to 2024, around 1.3 billion dollars and a 1% growth, due to the closure of Chiquita Panamá. This, along with the consolidation of other products and the official accession of Panama to the Southern Common Market (Mercosur), will contribute to a gradual increase in exports. The banana sector, before the suspension of operations of the company located in the Bocas del Toro province, represented 17% of the country's exports; however, after the workers' strike last April, this percentage decreased by 40%. Nevertheless, other products saw a significant increase, which helped keep exports afloat. 'We must add value to our raw materials; this way we avoid being a basic or commodity product subject to global fluctuations,' stated Panamá América after consulting with Morán. Morán reiterated that the opportunities are there; we just need to take advantage of them and get the most out of them, as has been done with the increase in taxes on certain countries by the United States, a decision that has contributed to the systematic and significant growth of exports. Although Dormoi acknowledged that the reopening of the banana company will be a process that will take time due to the adjustments and cleaning required for the plantations, he expects that in the coming months the sector will regain its export percentages. Meanwhile, the president of the Panamanian Association of Exporters (APEX), Biana Morán, stated that the commercial missions developed between the Government and the private sector have yielded the expected results for the sector; therefore, they must continue to be developed. She considers that strategic alliances are also fundamental to train small producers with the aim of them becoming exporters, ensuring the sector's competitiveness and its benefits for the country. She indicated that for the next year it is necessary to add value to Panamanian raw materials to get the most out of them, as the local processing of coffee has had a 25% increase that could be replicated in other sectors. Eric Dormoi, national director of export promotion at Mici, detailed that during the first nine months of 2025, exports reached 988 million dollars, a growth of almost 2% compared to the same period of the previous year. This week, Chiquita Panamá will hold several targeted recruitment sessions to hire more than 3,000 people.