Panama: Aluminium Alloy Wire Market 2025

Aluminium Alloy Wire Market Size in Panama

In 2022, the Panamanian aluminium alloy wire market increased by 334% to $X, rising for the second consecutive year after two years of decline. Overall, consumption saw resilient growth. Aluminium alloy wire consumption peaked in 2022 and is expected to retain growth in the immediate term.

Aluminium Alloy Wire Exports

Exports from Panama

In 2022, approx. X kg of aluminium alloy wire were exported from Panama; falling by -9.4% against the year before. Over the period under review, exports showed a dramatic contraction. The most prominent rate of growth was recorded in 2016 with an increase of 53%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, aluminium alloy wire exports rose to $X in 2022. Overall, exports showed a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 53%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Slovenia (X kg) was the main destination for aluminium alloy wire exports from Panama, accounting for a 71% share of total exports. Moreover, aluminium alloy wire exports to Slovenia exceeded the volume sent to the second major destination, Venezuela (X kg), threefold. The third position in this ranking was taken by the United States (X kg), with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume to Slovenia stood at +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-18.5% per year) and the United States (-10.2% per year).

In value terms, Slovenia ($X) remains the key foreign market for aluminium alloy wire exports from Panama, comprising 67% of total exports. The second position in the ranking was taken by the United States ($X), with a 19% share of total exports. It was followed by Venezuela, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value to Slovenia amounted to +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+14.3% per year) and Venezuela (-8.6% per year).

Export Prices by Country

The average aluminium alloy wire export price stood at $X per ton in 2022, picking up by 14% against the previous year. In general, the export price enjoyed buoyant growth. The growth pace was the most rapid in 2018 an increase of 69% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Jamaica ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (+79.9%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Alloy Wire Imports

Imports into Panama

In 2022, purchases abroad of aluminium alloy wire increased by 291% to X tons, rising for the second year in a row after two years of decline. Overall, imports recorded a buoyant expansion. The growth pace was the most rapid in 2016 with an increase of 651%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, aluminium alloy wire imports surged to $X in 2022. In general, imports recorded a remarkable increase. The growth pace was the most rapid in 2016 when imports increased by 1,388%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Slovenia (X tons) constituted the largest supplier of aluminium alloy wire to Panama, with a 53% share of total imports. Moreover, aluminium alloy wire imports from Slovenia exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. The third position in this ranking was held by China (X tons), with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume from Slovenia totaled +13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.6% per year) and China (+0.7% per year).

In value terms, Slovenia ($X) constituted the largest supplier of aluminium alloy wire to Panama, comprising 58% of total imports. The second position in the ranking was held by the United States ($X), with a 12% share of total imports. It was followed by Poland, with a 5.4% share.

From 2012 to 2022, the average annual growth rate of value from Slovenia amounted to +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.7% per year) and Poland (+17.9% per year).

Import Prices by Country

In 2022, the average aluminium alloy wire import price amounted to $X per ton, rising by 11% against the previous year. Overall, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aluminium alloy wire import price increased by +182.3% against 2015 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 98% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform