Panama Ecommerce

Panama Ecommerce

Panama Ecommerce

Every year, the amount of Panamanians who are online is growing. The latest figures show that about 69 percent, more than 2.9 million, are internet users. Approximately 95% of those users shop with a mobile device or desktop online. The majority of financial institutions provide online banking services (i.e., Banco General's 'Yappy'). Some little agricultural producers are able to meet a greater number of buyers through applications such as 'Mercadito.

Panamanians have become considerably popular with delivery sites. Degusta offers restaurant tips, another very well-known website in Panama. Large retailers have continuing growth in their eCommerce sales and offer online shopping. Recently, E-commerce was adopted by the Zona Libre de Colon, the biggest free-trade area in the Americas. New logistics platforms for increased production are included in the draft amendments. Companies who want to do e-Commerce in Panama should meet a number of criteria established by their visit to the Ministry of Commerce and Industry's General Directorate of E-Commerce.

This government body is responsible for monitoring and acting in the regulatory capacity of the eCommerce laws (Law 43 and Law 51). Electronic signatures are a civil device in Panama, rather than property transfers and estates.

The National Digital Agenda 2020 project of the Cortizo administration encourages openness through technology and creativity. There are currently 142 online public utilities. The aim is that by 2020 400 providers will be reached online. SAP under the ISTMO name enables transfers of payments to providers electronically. Maritime consulates around the world are now using online payment gateways. Panama has ranged 83rd in 2019 in terms of government capacity for the digital supply of public services, according to the United Nations E-Commerce Development Index (EGDI).

Access To The Internet

Over the last few years, Panama has seen steady economic growth, which has had a positive impact on the telecommunications sector in the region, drawing substantial investments from major foreign operators such as Telefonica, America Movil, and Liberty Global. This has led to the rapid growth of mobile and broadband networks in the Region. There were almost 3 million internet users in Panama in 2017, with a rate of penetration of 69.7%.

Internet penetration has been growing in recent years, driven by increased customer service demand and incentives for highly connected Panama by the government. 46.7% of homes were computerized in 2017, with 60.7% having wifi at home. Additionally, there were 7.9 subscriptions per 100 inhabitants for fixed broadband, while there were 60.7 subscriptions per 100 inhabitants for mobile broadband. In recent years the telecom industry has grown considerably and the rate of mobile penetration is over 180%, far higher than the regional average.

Demand In E-Commerce

The Panama retail market is powerful but e-commerce is still early. E-commerce is valued at 700 million dollars in Panama in 2018. A number of Panama companies have websites and an increasing number of companies are working to have their own, in particular supermarkets, fast food products supplies, and consumer electronic shops. In the world, there is a strong use of smartphones and other electronic devices. Now more consumers can buy products and services on the Internet, independently of where they operate and which fuels the development of e-commerce.

Foreign investors are gaining interest in Panama, mostly because of its tax benefits and the US dollar-based economy. This combination of factors seems especially promising for companies who intend to invest internationally in the e-commerce field. Some of the country's most popular eCommerce websites are,, and Amazon, Ebay, or AliExpress.

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Overview of Panama Ecommerce

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