Panama

Business Opportunities in Panama for UK Exporters
1. Introduction & Snapshot

Panama, population 4.5 million, is a strategic logistics and financial hub in Central America. Key sectors include shipping, logistics, banking, tourism, and renewable energy, offering UK exporters opportunities in infrastructure, technology, professional services, and sustainable energy.

2. Economic Overview

GDP (2023): ~USD 75 billion
Growth: 3–4%

Key sectors:

Logistics & shipping: Panama Canal, ports, freight

Finance & professional services

Tourism: eco-tourism, luxury resorts

Renewable energy: hydro, solar, biomass

3. Trade Relations with the UK

UK exports: machinery, vehicles, pharmaceuticals, IT, financial services

UK imports: agricultural products, seafood, manufactured goods

Bilateral trade: growing; Panama’s strategic location is advantageous for distribution

4. Market Opportunities

Logistics & Infrastructure: Port development, transport, supply chain solutions

Renewable Energy & Cleantech: Solar, hydro, biomass, energy management

Tourism & Hospitality: Eco-tourism projects, hotel consultancy

Technology & Professional Services: Software, fintech, legal, engineering

Agribusiness: Export-oriented food processing and packaging

5. Regulatory & Business Environment

Open and transparent economy

Investment incentives for logistics, renewable energy, and tourism

Strong IP protection and enforcement

Ease of doing business is high relative to regional peers

6. Cultural & Consumer Insights

Business culture: formal but relationship-oriented

Spanish is official; English widely used in finance and international business

Consumers value quality and service, particularly in urban centers

7. Challenges & Risks

Competition from US and regional suppliers

Vulnerability to climate events

Infrastructure outside Panama City can be limited

8. Case Study

UK firms have supplied logistics consultancy, renewable energy solutions, and technology services, demonstrating the value of high-quality, specialised expertise.

9. Practical Entry Tips

Partner with local distributors or service providers

Focus on high-value sectors: logistics, renewable energy, tourism, technology

Emphasise UK quality and reliability

10. Conclusion

Panama offers strategically significant, high-value opportunities for UK exporters in logistics, renewable energy, tourism, and technology, benefiting from a stable business environment and international connectivity.