No, the difference is not in performance. In both cases, the entire module must be analyzed, and any module level code will be executed. The only difference is the namespace: firstly, all the names of the imported module will become the names in the current module; in the second, only the package name is determined in the current module.
However, there is very rarely a good reason to use from foo import * . Either import the module or import specific names from it.
Daniel Roseman
source share