Panama: Market for Brooms, Brushes, And Mops 2024

Market Size for Brooms, Brushes, And Mops in Panama

The Panamanian broom, brush, and mop market shrank to $X in 2022, falling by -5.1% against the previous year. Over the period under review, consumption, however, showed a measured increase. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Brooms, Brushes, And Mops in Panama

In value terms, broom, brush, and mop production amounted to $X in 2022 estimated in export price. Over the period under review, production posted a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of 106%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Brooms, Brushes, And Mops

Exports from Panama

Broom, brush, and mop exports from Panama amounted to X units in 2022, increasing by 6.3% on 2021 figures. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 12% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, broom, brush, and mop exports surged to $X in 2022. Overall, exports, however, showed a noticeable decrease. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X units) was the main destination for broom, brush, and mop exports from Panama, accounting for a 60% share of total exports. Moreover, broom, brush, and mop exports to Brazil exceeded the volume sent to the second major destination, Argentina (X units), sixfold. Venezuela (X units) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2022, the average annual growth rate of volume to Brazil stood at +33.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-1.1% per year) and Venezuela (-13.3% per year).

In value terms, Brazil ($X) remains the key foreign market for brooms, brushes, and mops exports from Panama, comprising 41% of total exports. The second position in the ranking was held by Venezuela ($X), with a 13% share of total exports. It was followed by Argentina, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil stood at +24.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-11.6% per year) and Argentina (-5.5% per year).

Export Prices by Country

The average broom, brush, and mop export price stood at $X per unit in 2022, surging by 12% against the previous year. Over the period under review, the export price, however, saw a noticeable decrease. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 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 Colombia ($X per unit), while the average price for exports to Argentina ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Brooms, Brushes, And Mops

Imports into Panama

In 2022, broom, brush, and mop imports into Panama reduced sharply to X units, dropping by -19.7% compared with 2021. Overall, imports showed a perceptible shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 94%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, broom, brush, and mop imports fell dramatically to $X in 2022. In general, imports continue to indicate a slight decline. The pace of growth was the most pronounced in 2017 when imports increased by 147% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of broom, brush, and mop to Panama, accounting for a 37% share of total imports. Moreover, broom, brush, and mop imports from China exceeded the figures recorded by the second-largest supplier, Guatemala (X units), threefold. The third position in this ranking was taken by the United States (X units), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (+2.2% per year) and the United States (-5.2% per year).

In value terms, China ($X) constituted the largest supplier of brooms, brushes, and mops to Panama, comprising 34% of total imports. The second position in the ranking was held by the United States ($X), with a 15% share of total imports. It was followed by Free Zones, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.3% per year) and Free Zones (+70.7% per year).

Import Prices by Country

In 2022, the average broom, brush, and mop import price amounted to $X per unit, growing by 2.4% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2017 an increase of 28% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform