Panama: Stationery Market 2024

Stationery Market Size in Panama

In 2022, the Panamanian stationery market increased by 18% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, continues to indicate a abrupt downturn. Stationery consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Stationery Production in Panama

In value terms, stationery production soared to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a significant curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 60% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Stationery Exports

Exports from Panama

In 2022, overseas shipments of articles of stationery were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a precipitous curtailment. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, stationery exports soared to $X in 2022. Overall, exports, however, continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 36% against the previous year. 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

Free Zones (X tons) was the main destination for stationery exports from Panama, with a 86% share of total exports. Moreover, stationery exports to Free Zones exceeded the volume sent to the second major destination, Nicaragua (X tons), more than tenfold. The third position in this ranking was taken by Cuba (X tons), with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones stood at +41.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-24.7% per year) and Cuba (-28.5% per year).

In value terms, Free Zones ($X) remains the key foreign market for articles of stationery exports from Panama, comprising 69% of total exports. The second position in the ranking was taken by Cuba ($X), with a 15% share of total exports. It was followed by Nicaragua, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value to Free Zones stood at +45.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (-22.4% per year) and Nicaragua (-24.2% per year).

Export Prices by Country

The average stationery export price stood at $X per ton in 2022, falling by -23.8% against the previous year. In general, the export price continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2021 when the average export price increased by 32% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Free Zones ($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 Honduras (+15.3%), while the prices for the other major destinations experienced more modest paces of growth.

Stationery Imports

Imports into Panama

For the third year in a row, Panama recorded decline in supplies from abroad of articles of stationery, which decreased by -7.2% to X tons in 2022. Over the period under review, imports, however, recorded a slight increase. The most prominent rate of growth was recorded in 2017 with an increase of 152%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, stationery imports stood at $X in 2022. Overall, imports, however, saw a notable increase. The pace of growth appeared the most rapid in 2017 with an increase of 239%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Free Zones (X tons), India (X tons) and China (X tons) were the main suppliers of stationery imports to Panama, together accounting for 60% of total imports. Colombia, Ecuador, El Salvador, Costa Rica and the United States lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +238.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest stationery suppliers to Panama were Free Zones ($X), Colombia ($X) and India ($X), with a combined 54% share of total imports. China, Ecuador, the United States, El Salvador and Costa Rica lagged somewhat behind, together comprising a further 36%.

Ecuador, with a CAGR of +258.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average stationery import price amounted to $X per ton, with an increase of 21% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2017 an increase of 34% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2018; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($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 (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform