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Export and Import from Panama
Panama is quickly becoming a digital hotspot, thanks to its strategic location, investment-friendly policies, and growing appetite for tech infrastructure. But before you rush to ship your IT equipment across borders, it’s critical to understand the unique customs in Panama, compliance pitfalls, and how to keep your shipments moving without delay.
Tax
7%
Duty
15%
Lead Times
3-5 Weeks
Restricted Items
Wood (including packing of items)
Best Carrier Option
Courier or Freight Forwarder
Non-Working Days
Saturday, Sunday, and Public Holidays
Prominent Languages
Panamanian Spanish (Castilian)
Why Panama? | Understanding the Import Landscape
At the heart of the Americas and home to the Panama Canal, Panama has always been a logistical powerhouse. With access to both the Atlantic and Pacific Oceans, robust transportation networks, and modernized ports and airports, it’s no surprise that businesses are eyeing the country as a key hub for Central and South American expansion.
Population
4.57 M
Biggest Industry by Export
Copper Ore
Capital City
Panama City
Biggest Industry by Import
Mineral Fuels, Oils, and Distillation Products
A Growing Tech Sector
Although Panama’s tech ecosystem is still emerging, its trajectory is promising. The government is investing heavily in digital transformation, including programs to boost connectivity, cybersecurity, and public-private collaboration in the digital economy. Multinational companies have already planted roots here, and Panama’s growing data center infrastructure signals strong demand for high-tech imports.
If you’re in the business of cloud computing, networking, or software solutions, Panama is increasingly becoming a strategic destination.
EOR Panama | Why You Need an Exporter of Record
If you’re not a Panamanian entity, you can’t legally import goods yourself. That’s where a trusted Exporter of Record (EOR) in Panama becomes essential.
TecEx acts as your local partner, handling everything from licensing and compliance to tax calculation and customs clearance. With us as your IOR/EOR, your goods can legally and efficiently enter or exit Panama without your company needing a physical presence or local entity.
Customs in Panama
Any individual or company wishing to engage in import activity in Panama must have a valid commercial or industrial license. Additionally, all imports are subject to import duties, VAT, and handling charges.
The good news? Panama generally accepts international standards for goods that don’t have specific Panamanian regulations. This simplifies compliance if your products already meet US or EU technical specs.
Panamanian Trade Pain Points
Despite the opportunities, importing into Panama isn’t as straightforward as one might hope, particularly for technology products. It’s not uncommon for importers to face costly delays or customs seizures due to a lack of local regulatory knowledge. Since Panama isn’t a frequent destination for tech imports compared to larger markets, many companies underestimate the complexities of compliance.
Challenges You Might Face:
Tariff Surprises:
Panama’s involvement in global trade, including impacts from US-China tensions, means extra tariffs might apply.
Corruption and Bureaucracy:
Ranked 105 out of 180 in Transparency International’s Corruption Perceptions Index (2021), Panama’s red tape can be frustrating for foreign businesses.
Regulatory Uncertainty:
While Panama has modernized many of its regulations, gaps and inconsistent enforcement still exist, especially in sectors like ICT and telecommunications.
Digital Divide:
While cities are connected, rural areas often lag behind in infrastructure, impacting logistics and service delivery.
Without proper documentation and expertise, your shipment can easily get stuck in customs purgatory.
Top Countries Trading with Panama
Asia
Japan
Asia
South Korea
Panama’s Trade Climate | Key Considerations When Importing
Panama has one of Latin America’s most open economies, with no significant restrictions on foreign investment or capital flow. Tariffs are low, and standards are liberalized. Since joining the WTO in 1997, the country has streamlined trade processes and actively encouraged foreign direct investment (FDI), especially in telecommunications and digital services.
However, foreign investors should be mindful of:
Environmental Risks: The 2024 drought impacted Panama Canal operations, illustrating how climate events can disrupt supply chains.
Regulatory Gaps: Ongoing updates to tech laws are positive, but enforcement remains inconsistent.
Transparency Concerns: Procurement and business licensing can be opaque, deterring some investors.
How TecEx Makes Importing from Panama Seamless
At TecEx, we specialize in DDP (Delivered Duty Paid) shipping for high-value IT and tech equipment. That means we take care of everything—from documentation to duties to final delivery.
First-Time Customs Clearance: Our in-depth knowledge of customs in Panama ensures your tech goods don’t get stuck.
Local Representation: We act as your EOR in Panama, allowing you to legally import with zero local footprint.
Fast and Secure Shipping: We use vetted logistics partners to ensure timely and safe delivery.
Turnkey Compliance: From licenses to labeling, we handle all regulatory requirements so you don’t have to.
Proven Experience: We’ve handled complex, high-value shipments for some of the world’s largest corporations, safely and compliantly.
Ready to Import from Panama?
Let’s make your Panama shipment a success. Don’t let customs red tape or regulatory confusion delay your plans. Contact TecEx today.