Panama: Diamond Market 2024

Diamond Market Size in Panama

In 2022, the Panamanian diamond market decreased by X% to $X, falling for the seventh consecutive year after two years of growth. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Diamond Production in Panama

In value terms, diamond production stood at $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Diamond Exports

Exports from Panama

In 2022, after three years of growth, there was significant decline in overseas shipments of diamonds and other precious stones (unworked), when their volume decreased by X% to X tons. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, diamond exports reached $X in 2022. In general, exports showed a deep slump. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for diamond exports from Panama, accounting for a X% share of total exports. Moreover, diamond exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%.

In value terms, the United States ($X) emerged as the key foreign market for diamonds and other precious stones (unworked) exports from Panama, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%.

Export Prices by Country

In 2022, the average diamond export price amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, showed a deep slump. The growth pace was the most rapid in 2014 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%).

Diamond Imports

Imports into Panama

In 2022, approx. X kg of diamonds and other precious stones (unworked) were imported into Panama; which is down by X% compared with the previous year. In general, imports continue to indicate a perceptible decline. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, diamond imports shrank remarkably to $X in 2022. Overall, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X kg) constituted the largest supplier of diamond to Panama, accounting for a X% share of total imports. Moreover, diamond imports from Spain exceeded the figures recorded by the second-largest supplier, Brazil (X kg), fivefold. The third position in this ranking was taken by the United States (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Spain amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and the United States (X% per year).

In value terms, Spain ($X) constituted the largest supplier of diamonds and other precious stones (unworked) to Panama, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Spain totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and the United States (X% per year).

Import Prices by Country

The average diamond import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 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 United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform