Engines of international trade growth: an examination of dynamic shift-share analysis of the Panama exports to EU before and after its accession to AACUE
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abstract
The general objective of this work was to characterize the evolution of trade between Panama and the European Union, specifically analyzing Panama's exports to the European Union market. To achieve the objective, the dynamic Shift-Share analysis methodology was applied to the most recent data on the Panama-European Union trade available in the Statistical Office of the European Communities, in the period corresponding to the year 2011 to the year 2016. Based on the analysis conducted, it was possible to observe that exports from Panama to the European Union experienced a slight average annual growth of 9.23%. Relatively, to the dynamic Shift-Share analysis it was possible to know that, exports from Panama to Denmark, the Netherlands and the United Kingdom registered growths due to the effects of the regional component; Cyprus and France recorded growth due to the effects of the structural component. On the other hand, exports from Panama registered decreases in Germany, Spain, Greece, Italy and Sweden due to the effects of the regional component; and for Belgium and Poland for the effect of the structural component. Regarding the products exported by Panama to the European Union only the product other vegetables, fresh or frozen, fresh fruit registered a decrease due to the effects of the structural component.
Besides the evidence shown and discuses, this research can be regarded as a significant contribution to the existing statistics on exports from Panama to the European Union and can be more broadly used as a tool to delineate corporate or national strategies to boost trade between Panamá and European Union.
