globaltraffic.earth

Where does Panama get its crude oil? Import sources 2024

In 2024, Panama imported $13.2 billion of crude oil (23.8 million tonnes), 1% of the world total. Its main sources were Ecuador (40%), Colombia (29%) and Guyana (19%). Panama was the world’s 20th-largest importer of crude oil.

Summary

Value
$13.2billion
Tonnes
23.8million tonnes
Share of world total
1%
World rank
20th
Routes from the main sources. Width: value; color: estimated transport mode.SeaAirLand

Sources

The 6 main sources in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
Ecuador5.3Tonnes: 11,714,386USD per tonne: $45340.3%Sea
Colombia3.9Tonnes: 8,107,310USD per tonne: $47929.5%Land
Guyana2.5Tonnes: 1,030,515USD per tonne: $2,46119.3%Sea
United States1.4Tonnes: 2,828,338USD per tonne: $48710.5%Sea
Argentina0.06Tonnes: 87,125USD per tonne: $6320.42%Sea
Singapore re-exports< 0.01Tonnes: 0USD per tonne: $5000%Sea

Trend

Who it buys from

Ecuador has been its main source since 2024

Value in USD billions. The five largest sources in 2024.

  • Ecuador 5.3
  • Colombia 3.9
  • Guyana 2.5
  • United States 1.4
  • Argentina 0.06

Source: CEPII BACI

Show the numbers
Partner19952024
Ecuador0.115.3
Colombia03.9
Guyana02.5
United States01.4
Argentina00.06

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

See all products