Panama's Emerging Exports Surpass $600 Million

The export of these products classified as "emerging" to various countries such as Guatemala, Peru, Mexico, Curaçao, Denmark, Italy, Vietnam, Dominican Republic, among others, amounts to over 600 million dollars, demonstrating their profitability and interest in local products. This is an opportunity that authorities believe must be seized to boost the sector. However, he reiterated that it is essential to pay close attention to this issue so that both the raw material and the final product are produced in Panama, sold domestically, and exported abroad to prevent profits from leaving the national territory. Following the drastic drop in banana exports in the country after the closure of Chiquita Panama, new products have begun to stand out nationally and internationally, increasing business opportunities for small producers. Dormoi advised producers to "get into the market", get to know their buyers, tariffs, and the pros and cons of their products to make the necessary corrections that will facilitate the consolidation of Panama's export offering on a global scale. Other Panamanian products starting to make their way in the market include galvanized steel bars, fresh eggs and cilantro, wooden beams, thermal insulation, cream soap, ñampi, wooden doors and their parts, mechanically deboned chicken meat, galvanized baby carriages, and cobia skin used in the cosmetics industry, an opportunity that could extend to other marine animals. He expressed satisfaction that material that was discarded years ago is now yielding returns, but while manufacturing is not promoted in the country, profits will remain partial because the raw material sent abroad returns as a finished product, that is, it is sold for another country to transform and then it is acquired under its own brand. The National Directorate of Export Promotion of the Ministry of Commerce and Industries (Mici) revealed that the decline in some items during the year has been offset by the production of medicines, ice refrigerators, teak boards, and oxygen tanks, whose exports have been on the rise. The sector, in turn, requested authorities to speed up export permits, as the bureaucracy involved forces them to wait up to 2 years for a resolution. "Many years ago all these feathers and blood were thrown in the landfill; now, no, now we are processing flour and we are exporting it," he said. They also state that greater digitization is needed to compete on equal terms with their counterparts in other countries. Eric Dormoi, national director of export promotion at Mici, mentioned that feather and chicken blood flour, a raw material used in pet food, has also seen significant growth in markets with a 5% increase until August compared to the same period in 2024.