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How much of the United States’ trade passes through the Panama Canal?

In 2024, an estimated $441 billion of the United States’ trade passed through the Panama Canal, 20.6% of its seaborne trade. That is $180.3 billion of exports and $260.7 billion of imports. The partners with the most trade through it are China, South Korea and Japan.

Summary

Estimated value
$441billion
Of its seaborne trade
20.6%
Exports
$180.3billion
Imports
$260.7billion

Trend

Estimated value per year

The United States’ estimated trade through the Panama Canal rose 18% between 2019 and 2024

Value in USD billions

  • United States 441

Source: CEPII BACI

Show the numbers
YearEstimated valueOf its seaborne trade
1995$135.2 billion21.5%
1996$143.9 billion21.8%
1997$153.2 billion21.8%
1998$148 billion21.5%
1999$160.9 billion21.9%
2000$159.9 billion21.4%
2001$154.5 billion21.4%
2002$167.8 billion21.6%
2003$183.7 billion21.4%
2004$220.4 billion21.6%
2005$250.1 billion21.4%
2006$281.3 billion21.6%
2007$295.4 billion21.3%
2008$337.2 billion21.4%
2009$245 billion21.5%
2010$318.3 billion22.2%
2011$359.3 billion21.4%
2012$372.1 billion21.6%
2013$366.1 billion21.8%
2014$363.3 billion21.4%
2015$342.1 billion21.8%
2016$331.2 billion22.3%
2017$357.8 billion22.2%
2018$378.9 billion21.7%
2019$372.4 billion21.9%
2020$333.8 billion21.6%
2021$424.3 billion21.5%
2022$502.8 billion21.1%
2023$451.2 billion21%
2024$441 billion20.6%

Partners whose trade crosses it

Estimated value of its trade with each partner that crosses the chokepoint; the percentage is the share of all its trade through the chokepoint, not of the pair’s trade.

  1. United States–China$83.9 billion · 19%
  2. United States–South Korea$32.9 billion · 7.5%
  3. United States–Japan$31.4 billion · 7.1%
  4. United States–Canada$28.7 billion · 6.5%
  5. United States–Mexico$27.6 billion · 6.2%
  6. United States–Germany$21.6 billion · 4.9%
  7. United States–Chile$19.1 billion · 4.3%
  8. United States–Brazil$15.2 billion · 3.5%
  9. United States–Peru$11.6 billion · 2.6%

What crosses it

The products with the highest estimated value in 2024, with their share of the total through the chokepoint.

  1. Refined petroleum$49.5 billion · 11.2%
  2. Cars$35.1 billion · 8%
  3. Crude petroleum$30.3 billion · 6.9%
  4. Natural gas and LPG$16.2 billion · 3.7%
  5. Auto parts$9.7 billion · 2.2%
  6. Soybeans$5 billion · 1.1%
  7. Polyethylene$4.5 billion · 1%
  8. Refined copper$4.5 billion · 1%
  9. Toys$3.4 billion · 0.78%
  10. Corn$3.3 billion · 0.74%

If it closes

  • China–United States: +1,722 nautical miles, ≈ 5 days more at 14 knots, via the Strait of Malacca and Singapore; the Bab-el-Mandeb Strait; the Suez Canal; and the Strait of Gibraltar
  • South Korea–United States: +2,517 nautical miles, ≈ 7.5 days more at 14 knots, via the Strait of Malacca and Singapore; the Bab-el-Mandeb Strait; the Suez Canal; and the Strait of Gibraltar
  • Japan–United States: +3,178 nautical miles, ≈ 9.5 days more at 14 knots, via the Strait of Malacca and Singapore; the Bab-el-Mandeb Strait; the Suez Canal; and the Strait of Gibraltar
  • Canada–United States: +8,396 nautical miles, ≈ 25 days more at 14 knots, via the Cape Horn
  • Mexico–United States: +8,767 nautical miles, ≈ 26 days more at 14 knots, via the Cape Horn

Estimated sailing detour, without costs, waiting or port capacity.

Reference ports

Los Angeles (48%) and New York (52%)

Each port with the weight it receives from the country’s trade, based on where its GDP is generated and which coast is closest.

Sources and method

Sources and licenses

Methodology

We estimate the value crossing each chokepoint from BACI trade that travels by sea according to our mode heuristic, split between each country’s ports by where its GDP is generated and which coast is closest, and routed over our own sea network. It is an estimate, not a count of ships. It covers 99.9% of seaborne trade. The approach follows Verschuur, Lumma and Hall (Nature Communications, 2025). Data up to 2024.

All maritime chokepoints