Panama

Distributing a product

Organizations in the retail sector

Market access procedures

International Conventions

Non tariff barriers

There are few restrictions regarding import. The most important restrictions are set for products considered as dangerous for Health or which are against law and order.
Certain goods require a license from the Ministry of Agriculture, or from the Department of Trade and Industry (weapons, plants, seeds and live animals).
The non-tariff barriers considerably restrict the freedom of import (very strict quotas, reference prices and excessive sanitary standards).
Colon Free Trade Zone (FTZ) or Zona Libre de Colon (ZLC) on the Atlantic coast, created in 1948, ranks second in the world after Hong Kong. In the FTZ, some particular products can be imported, stored, modified and re-exported, without any need to go through customs whether on entrance or on exit, nor to pay for any special taxes. The strategic location, in the centre of America and near the Panama Canal, offers an important potential for the development of international trade. The most important products of the FTZ are: clothes, broadcasting devices, synthetic clothes, shoes, watches, perfume and fragrance, spirits, cigarettes and pharmaceutical products. The main suppliers of the FTZ are Hong-Kong, South Korea, Singapore, some European countries and the USA. The main customers are the Caribbean islands and the countries of Central America.

Customs classification

The customs duty is calculated ad valorem on the CIF value and varies from 3 to 40%. About 50% of the imports are exempted from the payment of duties. There are 48 types of products submitted to customs tariffs of 90% or over, such as farm and agro-industrial products (strawberries, potatoes, tomatoes and tropical fruits among others).

Imports of goods that are not produced in Panama are submitted to duties below 27%.
Imports are also submitted to an equivalent of the VAT and have to pay a tax on documents, from 2% to 5% on the FOB value (goods submitted to customs duties) and from 5% to 8% (free goods)

Import procedures

The customs duty is calculated ad valorem on the CIF value and varies from 3 to 40%. About 50% of the imports are exempted from the payment of duties. There are 48 types of products submitted to customs tariffs of 90% or over, such as farm and agro-industrial products (strawberries, potatoes, tomatoes and tropical fruits among others).

Imports of goods that are not produced in Panama are submitted to duties below 27%.
Imports are also submitted to an equivalent of the VAT and have to pay a tax on documents, from 2% to 5% on the FOB value (goods submitted to customs duties) and from 5% to 8% (free goods)

For further information

Organizing goods transport

Ports

The national airline company
The maritime authority of Panama

Airports

Sea transport organizations

Air transport organizations

Road transport organizations

Rail transport organizations