Panama E-commerce - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)

The Panama e-commerce market was valued at USD 2.64 billion in 2025 and estimated to grow from USD 2.85 billion in 2026 to reach USD 4.21 billion by 2031, at a CAGR of 8.08% during the forecast period (2026-2031). Growth is anchored in Panama’s role as a logistics gateway for the Americas; continuous free-zone upgrades, expanded air-cargo capacity and government-sponsored connectivity programs are shortening delivery cycles and lowering fulfilment costs. Rapid smartphone adoption has entrenched mobile commerce as the primary transaction channel, while fintech wallets enlarge the addressable shopper base by bridging banking gaps. Retailers are prioritizing last-mile automation, warehouse robotics and AI-driven personalization to drive conversion, defend margins and counter rising cross-border competition. Global platforms leverage scale advantages, yet nimble local players win share through localized catalogues, hyper-local delivery and omnichannel service models that resonate with Panama’s urban consumers.

Panama E-commerce Market Trends and Insights

Agenda Digital Panamá 2025 accelerating SME digitalization

Government programs that subsidize cloud tools, offer e-invoicing and provide free broadband under “Internet for All” lower entry barriers for 50,000+ micro and small businesses. Public-private hackathons and fast-track grants entice SaaS vendors to localize software, enabling merchants to list online inventories in weeks rather than months. As more SMEs integrate payment APIs and fulfilment dashboards, assortments expand, average order values rise and rural consumers gain wider product access.

Fintech payment rails widening the unbanked shopper base

Digital wallets leapfrog legacy banking by allowing instant wallet-to-wallet transfers via phone numbers. With 74% of surveyed SMEs now accepting Yappy, checkout friction declines and first-time online buyers convert at higher rates. Interoperability between wallets and cards widens merchant acceptance, while biometric login increases trust. Rapid activation of QR codes at kiosks and open-loop transit systems further normalizes wallet usage beyond e-commerce.

Fragmented rural address system inflating delivery failure rates

Lack of standardized street naming outside metropolitan areas triggers rerouting, multiplies driver calls and pushes redelivery expenses up to 12% of parcel cost. Operators pilot GPS pin-drop apps and community drop-points yet scalability remains constrained, tempering rural penetration.

Other drivers and restraints analyzed in the detailed report include:

• Logistics free-zone expansion cutting delivery lead-times
• Cross-border purchase appetite powered by U.S.-Panama trade preference
• Elevated import duties & customs clearance delays causing checkout abandonment

Segment Analysis

The B2C segment commanded 87.45% of 2025 revenue, yet the B2B arm is on track for a 10.22% CAGR, outpacing headline growth. Large distributors now embed RFQ engines, real-time inventory feeds and single-click credit lines, shrinking procurement cycle times. Vendors inside free zones exploit bonded stock to promise next-day dispatch to neighboring markets, underscoring Panama e-commerce market competitiveness for business buyers.

Second-tier suppliers adopt bank-backed storefront templates such as BAC’s Pyme Store, which bundles SSL, invoicing and courier integrations. As adoption scales, demand aggregation and dynamic pricing tools emerge, deepening marketplaces and distributing volume across smaller firms. The Panama e-commerce market size for B2B transactions therefore widens, narrowing the historic consumer bias.

Mobile devices generated 73.40% of transactions in 2025 and hold the fastest trajectory at 9.55% CAGR, mirroring regional smartphone penetration. Telcos now bundle zero-rated shopping apps, and progressive web apps ensure smooth checkout even on 3G, underpinning retention. The Panama e-commerce market size linked to mobile screens is poised to expand through voice search, on-device biometrics and location-based offers.

Desktop remains relevant for high-ticket and B2B orders requiring multi-line entry and contract review, yet its share erodes yearly. Smart TVs and gaming consoles represent nascent channels; merchants test shoppable video and controller-based browsing for entertainment-linked categories. Omnichannel UX strategies align wish-lists across devices to improve customer lifetime value.

The Panama E-Commerce Market Report is Segmented by Business Model (B2C, B2B), Device Type (Smartphone / Mobile, Desktop and Laptop, Other Device Types), Payment Method (Credit / Debit Cards, Digital Wallets, BNPL, Other Payment Method), B2C Product Category (Beauty and Personal Care, Consumer Electronics, Fashion and Apparel, Food and Beverages, and More). The Market Forecasts are Provided in Terms of Value (USD).

List of companies covered in this report:

• Amazon.com Inc.
• MercadoLibre Inc.
• Copa App (Copa Airlines)
• Rappi Inc.
• Panafoto S.A.
• Farmacias Arrocha S.A.
• Félix B. Maduro S.A.
• ePagos Corp.
• Multimax (Grupo Melo)
• Stevens S.A.
• Albrook Mall Online
• Novey S.A.
• Cochez y Cía. S.A.
• Feduro Panamá S.A.
• Doit Center Online
• e-Shop LatAm S.A.
• Digicel Panamá E-shop
• Claro Shop Panamá
• Payless Panamá
• Uber Eats Panamá

Additional benefits of purchasing this report:

• Access to the market estimate sheet (Excel format)
• 3 months of analyst support