Panama: Bread And Bakery Market 2024

Bread And Bakery Market Size in Panama

The Panamanian bread and bakery market fell modestly to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption continues to indicate a mild decline. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Bread And Bakery Production in Panama

In value terms, bread and bakery production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced decline. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Bread And Bakery Exports

Exports from Panama

In 2022, shipments abroad of bread and bakery increased by X% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports saw buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, bread and bakery exports skyrocketed to $X in 2022. Overall, exports posted notable growth. The pace of growth appeared the most rapid in 2016 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Costa Rica (X tons) was the main destination for bread and bakery exports from Panama, accounting for a X% share of total exports. Moreover, bread and bakery exports to Costa Rica exceeded the volume sent to the second major destination, Jamaica (X tons), more than tenfold. The third position in this ranking was taken by Cuba (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Costa Rica amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (X% per year) and Cuba (X% per year).

In value terms, Costa Rica ($X) remains the key foreign market for bread and bakery exports from Panama, comprising X% of total exports. The second position in the ranking was taken by Cuba ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Costa Rica totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (X% per year) and the United States (X% per year).

Export Prices by Country

The average bread and bakery export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, recorded a deep slump. The growth pace was the most rapid in 2018 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Costa Rica ($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 Colombia (X%), while the prices for the other major destinations experienced a decline.

Bread And Bakery Imports

Imports into Panama

In 2022, approx. X tons of bread and bakery were imported into Panama; with a decrease of X% compared with the previous year. Over the period under review, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, bread and bakery imports rose significantly to $X in 2022. In general, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Costa Rica (X tons), Guatemala (X tons) and the United States (X tons) were the main suppliers of bread and bakery imports to Panama, with a combined X% share of total imports.

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

In value terms, the largest bread and bakery suppliers to Panama were the United States ($X), Costa Rica ($X) and Guatemala ($X), together accounting for X% of total imports.

Among the main suppliers, Costa Rica, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average bread and bakery import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform