https://www.laestrella.com.pa/economia/220315/220316-productos-panama-mas-importa-ucrania-verse-afectados-guerra

Although in the trade balance the volume of trade between Ukraine and Panama is not as high compared to other countries in the world, there are certain productive sectors that could be affected by the Russian invasion and by the increase in fuel costs that is being generated in the wake of the war.

“The high cost of fuel is going to remain until the situation in the area (Ukraine) normalizes. Any increase in this item (fuel) will be reflected in the raw material and then in the final product, so it is a double impact” The Commercial Representative of Ukraine in Panama and coordinator of Humanitarian Aid between Representative countries of Ukraine, Nicolás Vukelja, told this newspaper.

Among the main products that Panama imported from Ukraine during the first half of 2021 (excluding the Colon Free Zone) and whose shipments to the national territory could be affected by the conflict are: fluids for hydraulic brakes and other fluids prepared for transmissions hydraulic, without petroleum or bituminous mineral oils or with a content of less than 70% by weight.

Panama also imports manicure or pedicure tools and kits (including nail files) from Ukraine; other natural or artificial abrasives in powder or granule form on a support consisting solely of paper or cardboard, whether or not cut to size, sewn or otherwise joined.

Likewise, it imports scissors and their blades, except for those with a blunt tip. Other articles, of iron or steel, except forged; pliers (including cutters), pliers and similar hand tools, according to figures from the National Institute of Statistics and Census (Inec) published by the Comptroller General of the Republic.

However, during the first half of 2021, the total CIF value of Panama’s imports from Ukraine decreased by 64.3%, compared to the same period in 2020, according to figures from the Comptroller General, provided by Vukelja.

CIF is the actual value of the goods during customs clearance. It covers three concepts: cost of merchandise in the country of origin, cost of insurance and cost of freight to the port of destination.

Imports to the ZLC

In the trade balance, imports from Ukraine to the Colon Free Zone (Panama) also fell (-26.9%) during the first semester. However, it is the trading partner number 54 of 97 countries from which the Colon Free Zone imported goods.

Among the main products imported from Ukraine destined for the Colon Free Zone (in Panama) are: malt beer; Sunflower or safflower oil and its fractions, whether or not refined, but not chemically modified; and the other metal furniture, which rests on the floor.

Exports

While within the main products exported from Panama to Ukraine during the first half of 2021 (excluding the ZLC), there are pineapples, fresh or dried, registering a decrease (of -48.1%) compared to the same period of 2020.

Ukraine is the 67th trading partner of 87 countries to which Panama exported goods in the first half of 2021, representing 0.003% of total exports to the world.

Panama represents one of the most important places for world trade and although Ukraine may seem to be a very distant country, both nations had made important efforts to achieve greater trade, but due to the conflict they have been paralyzed.