Panama: Table-Tennis Equipment Market 2024

Table-Tennis Equipment Market Size in Panama

In 2022, the Panamanian table-tennis equipment market decreased by -97.9% to $X for the first time since 2016, thus ending a five-year rising trend. In general, consumption faced a sharp slump. Over the period under review, the market hit record highs at $X in 2021, and then contracted sharply in the following year.

Table-Tennis Equipment Exports

Exports from Panama

In 2022, the amount of articles and equipment for table-tennis exported from Panama reduced to X tons, which is down by -4% compared with the previous year. Overall, exports saw a abrupt decrease. The growth pace was the most rapid in 2014 with an increase of 803% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, table-tennis equipment exports stood at $X in 2022. In general, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 751%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Jamaica (X tons) was the main destination for table-tennis equipment exports from Panama, with a 56% share of total exports. Moreover, table-tennis equipment exports to Jamaica exceeded the volume sent to the second major destination, Guyana (X tons), threefold. Grenada (X kg) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume to Jamaica was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Guyana (+5.1% per year) and Grenada (+158.7% per year).

In value terms, Jamaica ($X) remains the key foreign market for articles and equipment for table-tennis exports from Panama, comprising 52% of total exports. The second position in the ranking was held by Suriname ($X), with a 13% share of total exports. It was followed by Grenada, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Jamaica totaled -1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Suriname (0.0% per year) and Grenada (+187.5% per year).

Export Prices by Country

The average table-tennis equipment export price stood at $X per ton in 2022, growing by 4.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2013 an increase of 17%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Suriname ($X per ton), while the average price for exports to Guyana ($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 Venezuela (+70.4%), while the prices for the other major destinations experienced more modest paces of growth.

Table-Tennis Equipment Imports

Imports into Panama

For the third year in a row, Panama recorded decline in purchases abroad of articles and equipment for table-tennis, which decreased by -51.3% to X tons in 2022. In general, imports faced a abrupt decline. The most prominent rate of growth was recorded in 2017 when imports increased by 198% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, table-tennis equipment imports dropped rapidly to $X in 2022. Over the period under review, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2017 when imports increased by 295% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Free Zones (X tons) constituted the largest supplier of table-tennis equipment to Panama, accounting for a 78% share of total imports. Moreover, table-tennis equipment imports from Free Zones exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from Free Zones stood at -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-24.5% per year) and the United States (+32.3% per year).

In value terms, Free Zones ($X) constituted the largest supplier of articles and equipment for table-tennis to Panama, comprising 79% of total imports. The second position in the ranking was taken by China ($X), with a 9.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Free Zones totaled -1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-23.7% per year) and the United States (+6.5% per year).

Import Prices by Country

In 2022, the average table-tennis equipment import price amounted to $X per ton, picking up by 17% against the previous year. Over the period under review, import price indicated a noticeable 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, table-tennis equipment import price increased by +31.7% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 33%. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($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 (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform