Panama: Aluminium Market 2025

Aluminium Market Size in Panama

The Panamanian aluminium market expanded notably to $X in 2022, growing by 5.3% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Aluminium Production in Panama

In value terms, aluminium production rose notably to $X in 2022 estimated in export price. Over the period under review, production recorded a modest increase. The pace of growth was the most pronounced in 2013 with an increase of 56%. Aluminium production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Aluminium Exports

Exports from Panama

After two years of growth, overseas shipments of aluminum (unwrought, not alloyed) decreased by -6.8% to X kg in 2022. In general, exports saw a sharp descent. The pace of growth appeared the most rapid in 2014 with an increase of 386% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, aluminium exports shrank to $X in 2022. Over the period under review, exports showed a dramatic decline. The most prominent rate of growth was recorded in 2014 with an increase of 541% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Costa Rica (X kg), the Dominican Republic (X kg) and Jamaica (X kg) were the main destinations of aluminium exports from Panama, with a combined 95% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Dominican Republic (with a CAGR of -13.6%), while the other leaders experienced a decline.

In value terms, the Dominican Republic ($X) remains the key foreign market for aluminum (unwrought, not alloyed) exports from Panama, comprising 74% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 19% share of total exports. It was followed by Jamaica, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value to the Dominican Republic amounted to -15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-27.9% per year) and Jamaica (-23.5% per year).

Export Prices by Country

The average aluminium export price stood at $X per ton in 2022, waning by -2.3% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aluminium export price increased by +8.8% against 2019 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by 55% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Honduras ($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 Guatemala (+36.9%), while the prices for the other major destinations experienced mixed trend patterns.

Aluminium Imports

Imports into Panama

In 2022, after four years of decline, there was significant growth in purchases abroad of aluminum (unwrought, not alloyed), when their volume increased by 8.9% to X tons. In general, imports, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2017 when imports increased by 2,606% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, aluminium imports amounted to $X in 2022. Overall, imports, however, continue to indicate a abrupt setback. The growth pace was the most rapid in 2017 with an increase of 2,870% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of aluminium to Panama, accounting for a 77% share of total imports. Moreover, aluminium imports from Australia exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with a 2.1% share.

From 2012 to 2022, the average annual growth rate of volume from Australia amounted to +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-7.5% per year) and the United States (-18.8% per year).

In value terms, Australia ($X) constituted the largest supplier of aluminum (unwrought, not alloyed) to Panama, comprising 62% of total imports. The second position in the ranking was taken by Mexico ($X), with a 30% share of total imports. It was followed by the United States, with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia amounted to +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-3.2% per year) and the United States (-12.5% per year).

Import Prices by Country

In 2022, the average aluminium import price amounted to $X per ton, approximately equating the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2015 an increase of 54% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Australia ($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 (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform