Panama flag Panama: Buying and Selling

E-commerce in Panama

E-commerce

Internet access
Panama has experienced steady economic growth during the past few years, which has had a positive effect on the country’s telecom market, attracting considerable investment from significant international operators including Telefónica, America Móvil and Liberty Global. With that, mobile and broadband services have been the fastest growing sectors in the country.  In 2017, there were almost 3 million internet users in Panama, making the penetration rate 69.7%.  Internet penetration has grown in recent years and is expected to continue to do so, fuelled by greater consumer demand for services, as well as the government’s incentive for a highly connected Panama. In 2017, 46.7% of households had a computer, 60.7% of them had internet access at home. Additionally, the number of fixed-broadband subscriptions per 100 inhabitants was 7.9, while there were 60.7 mobile-broadband subscriptions per 100 inhabitants. There has been a great development of the mobile sector in recent years, and mobile penetration rates are over 180%, considerably higher than the regional average.
E-commerce market
The retail market in Panama is strong, but e-commerce is still in its early stages. In 2018, e-commerce in Panama is estimated to reach US$ 700 million. A number of Panamanian firms, especially supermarkets, fast food delivery, and consumer electronic stores, now have websites and a growing number of companies is working on providing their own. Smartphones and other mobile devises are highly used in the country, and more people are now purchasing goods and services on the internet regardless of the location, which drives e-commerce growth. Panama is gaining the attention of foreign investors, especially due to its tax benefits and US dollar based economy. Within the e-commerce sector, this combination of factors seems to be particularly encouraging for companies planning to invest abroad. Some of the most popular e-commerce websites in the country are encuentra24.com, olx.com.pa, as well as global giants Amazon, Ebay and AliExpress.

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Latest Update: April 2022

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