Panama: Market for Builders' Joinery And Carpentry Of Wood (Excl. Windows, Doors, Posts and Beams, Assembled Flooring Panels) 2024

Market Size for Builders' Joinery And Carpentry Of Wood (Excl. Windows, Doors, Posts and Beams, Assembled Flooring Panels) in Panama

The Panamanian market for builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) reached $X in 2022, surging by 7.4% against the previous year. Overall, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 -6.7% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Builders' Joinery And Carpentry Of Wood (Excl. Windows, Doors, Posts and Beams, Assembled Flooring Panels) in Panama

In value terms, production of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) rose notably to $X in 2022 estimated in export price. In general, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.4% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of 54% against the previous year. Production of peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Builders' Joinery And Carpentry Of Wood (Excl. Windows, Doors, Posts and Beams, Assembled Flooring Panels)

Exports from Panama

In 2022, shipments abroad of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) decreased by -1.1% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2013 when exports increased by 126% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) skyrocketed to $X in 2022. In general, exports, however, saw a notable increase. The most prominent rate of growth was recorded in 2013 with an increase of 171% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Jamaica (X tons) was the main destination for exports of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) from Panama, with a approx. 99% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Jamaica amounted to +183.6%.

In value terms, Jamaica ($X) emerged as the key foreign market for builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) exports from Panama.

From 2012 to 2022, the average annual growth rate of value to Jamaica amounted to +179.8%.

Export Prices by Country

The average export price for builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) stood at $X per ton in 2022, jumping by 110% against the previous year. Overall, the export price posted prominent growth. The most prominent rate of growth was recorded in 2021 an increase of 183%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Jamaica.

From 2012 to 2022, the rate of growth in terms of prices for Spain amounted to +713.4% per year.

Imports of Builders' Joinery And Carpentry Of Wood (Excl. Windows, Doors, Posts and Beams, Assembled Flooring Panels)

Imports into Panama

In 2022, the amount of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) imported into Panama fell markedly to X tons, waning by -48.7% compared with the previous year's figure. In general, imports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 115% against the previous year. Over the period under review, imports of reached the peak figure at X tons in 2021, and then declined notably in the following year.

In value terms, imports of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) declined significantly to $X in 2022. Overall, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 264% against the previous year. Imports peaked at $X in 2021, and then dropped remarkably in the following year.

Imports by Country

The United States (X tons), Ecuador (X tons) and China (X tons) were the main suppliers of imports of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) to Panama, with a combined 72% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ecuador (with a CAGR of +79.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) to Panama, comprising 44% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by Ecuador, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +26.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.9% per year) and Ecuador (+90.1% per year).

Import Prices by Country

In 2022, the average import price for builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) amounted to $X per ton, growing by 15% against the previous year. In general, the import price showed a buoyant increase. The growth pace was the most rapid in 2014 when the average import price increased by 95%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform