Panama: Articles Of Gut Market 2024

Articles Of Gut Market Size in Panama

In 2022, the Panamanian articles of gut market was finally on the rise to reach $X for the first time since 2015, thus ending a six-year declining trend. Overall, the total consumption indicated tangible growth from 2012 to 2022: its value 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, consumption decreased by -41.5% against 2015 indices. 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.

Articles Of Gut Production in Panama

In value terms, articles of gut production dropped slightly to $X in 2022 estimated in export price. Overall, production, however, showed a mild descent. The pace of growth was the most pronounced in 2013 when the production volume increased by 1%. Articles of gut production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Articles Of Gut Exports

Exports from Panama

In 2022, after six years of growth, there was significant decline in shipments abroad of articles of gut, goldbeater’s skin, bladders or tendons, when their volume decreased by -8.3% to X tons. Overall, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2016 when exports increased by 96% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, articles of gut exports dropped to $X in 2022. Over the period under review, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2016 with an increase of 62%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X tons), Ecuador (X tons) and Chile (X kg) were the main destinations of articles of gut exports from Panama, with a combined 96% share of total exports. Guatemala lagged somewhat behind, comprising a further 4.3%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of +57.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for articles of gut exported from Panama were Ecuador ($X), Venezuela ($X) and Chile ($X), together comprising 83% of total exports. Guatemala lagged somewhat behind, accounting for a further 17%.

Guatemala, with a CAGR of +34.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average articles of gut export price stood at $X per ton in 2022, picking up by 2.4% against the previous year. Overall, the export price, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 19%. As a result, the export price attained the peak level of $X per ton. From 2014 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 Guatemala ($X per ton), while the average price for exports to Venezuela ($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 (-6.4%), while the prices for the other major destinations experienced a decline.

Articles Of Gut Imports

Imports into Panama

Articles of gut imports into Panama contracted notably to X kg in 2022, shrinking by -48.6% against the year before. Overall, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 2,040%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, articles of gut imports dropped rapidly to $X in 2022. In general, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 13,972% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X kg) constituted the largest articles of gut supplier to Panama, with a 89% share of total imports. Moreover, articles of gut imports from China exceeded the figures recorded by the second-largest supplier, the United States (X kg), more than tenfold. The third position in this ranking was held by France (X kg), with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-33.5% per year) and France (-4.0% per year).

In value terms, the largest articles of gut suppliers to Panama were China ($X), the United States ($X) and France ($X), with a combined 99% share of total imports.

China, with a CAGR of +5.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average articles of gut import price amounted to $X per ton, declining by -2.1% against the previous year. In general, the import price, however, saw a tangible expansion. The pace of growth was the most pronounced in 2021 an increase of 558% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 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 ($X per ton), while the price for Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform