Panama: Cotton Yarn Market 2025

Cotton Yarn Market Size in Panama

The Panamanian cotton yarn market fell to $X in 2022, with a decrease of -7.4% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Cotton Yarn Production in Panama

In value terms, cotton yarn production reduced to $X in 2022 estimated in export price. Overall, the total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.1% 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 -24.2% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 66%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Cotton Yarn Exports

Exports from Panama

In 2022, exports of cotton yarn from Panama declined markedly to X tons, with a decrease of -31.3% compared with the previous year. Overall, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2013 when exports increased by 642%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cotton yarn exports declined to $X in 2022. In general, exports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2013 with an increase of 439% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X tons), South Korea (X tons) and Slovakia (X tons) were the main destinations of cotton yarn exports from Panama, together comprising 75% of total exports.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +15.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cotton yarn exported from Panama were Slovakia ($X), South Korea ($X) and Colombia ($X), with a combined 44% share of total exports.

Among the main countries of destination, Slovakia, with a CAGR of +17.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average cotton yarn export price stood at $X per ton in 2022, with an increase of 40% against the previous year. In general, the export price, however, showed a noticeable decrease. The pace of growth appeared the most rapid in 2016 when the average export price increased by 93% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to the Dominican Republic ($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 Aruba (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Yarn Imports

Imports into Panama

Cotton yarn imports into Panama totaled X tons in 2022, therefore, remained relatively stable against the previous year. In general, imports, however, continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 102% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, cotton yarn imports shrank sharply to $X in 2022. Overall, imports, however, continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2013 when imports increased by 88% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Thailand (X tons) and Brazil (X tons) were the main suppliers of cotton yarn imports to Panama, with a combined 79% share of total imports. Mexico, Colombia, Free Zones, Guatemala, the United States, India and Peru lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for Free Zones (with a CAGR of +164.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and Brazil ($X) appeared to be the largest cotton yarn suppliers to Panama, with a combined 59% share of total imports. Mexico, Colombia, Free Zones, Guatemala, the United States, Peru and India lagged somewhat behind, together accounting for a further 37%.

Among the main suppliers, Free Zones, with a CAGR of +95.0%, recorded the highest growth rate of 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 cotton yarn import price stood at $X per ton in 2022, dropping by -31.1% against the previous year. In general, the import price continues to indicate a pronounced contraction. The pace of growth was the most pronounced in 2017 an increase of 24%. The import price peaked at $X per ton in 2021, and then dropped markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+5.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform