Panama: Common Pottery Market 2024

Common Pottery Market Size in Panama

The Panamanian common pottery market skyrocketed to $X in 2022, growing by 23% against the previous year. Overall, consumption, however, continues to indicate a perceptible decline. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Common Pottery Production in Panama

In value terms, common pottery production soared to $X in 2022 estimated in export price. Over the period under review, production, however, saw a deep slump. The growth pace was the most rapid in 2018 when the production volume increased by 413%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Common Pottery Exports

Exports from Panama

In 2022, the amount of common pottery exported from Panama shrank to X tons, which is down by -14.3% against the previous year. In general, exports saw a dramatic decline. The pace of growth appeared the most rapid in 2016 when exports increased by 272%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, common pottery exports shrank remarkably to $X in 2022. Over the period under review, exports saw a dramatic curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 195%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guyana (X tons) was the main destination for common pottery exports from Panama, accounting for a 36% share of total exports. Moreover, common pottery exports to Guyana exceeded the volume sent to the second major destination, Jamaica (X tons), twofold. The third position in this ranking was taken by the Dominican Republic (X tons), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Guyana stood at +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (-2.6% per year) and the Dominican Republic (+48.1% per year).

In value terms, Jamaica ($X), Guyana ($X) and Guatemala ($X) appeared to be the largest markets for common pottery exported from Panama worldwide, together comprising 56% of total exports. Barbados, Chile, the Dominican Republic, Belize and Grenada lagged somewhat behind, together comprising a further 34%.

The Dominican Republic, with a CAGR of +29.2%, saw the highest growth rate of 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 common pottery export price stood at $X per ton in 2022, with a decrease of -3.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2017 an increase of 24%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 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 Guatemala ($X per ton), while the average price for exports to the Dominican Republic ($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 (+23.2%), while the prices for the other major destinations experienced more modest paces of growth.

Common Pottery Imports

Imports into Panama

Common pottery imports into Panama reduced to X tons in 2022, shrinking by -14.3% compared with the previous year. In general, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of 98% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, common pottery imports expanded rapidly to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 172% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest common pottery supplier to Panama, accounting for a 66% share of total imports. Moreover, common pottery imports from China exceeded the figures recorded by the second-largest supplier, Free Zones (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+53.5% per year) and the United States (+22.6% per year).

In value terms, China ($X) constituted the largest supplier of common pottery to Panama, comprising 55% of total imports. The second position in the ranking was taken by Free Zones ($X), with a 21% share of total imports. It was followed by the United States, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+58.4% per year) and the United States (+25.3% per year).

Import Prices by Country

The average common pottery import price stood at $X per ton in 2022, surging by 29% against the previous year. Overall, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, common pottery import price increased by +65.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 43%. The import price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Hong Kong SAR ($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 (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform