Panama: Domestic Toaster Market 2024

Domestic Toaster Market Size in Panama

The Panamanian domestic toaster market shrank modestly to $X in 2022, remaining constant against the previous year. In general, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 -11.8% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Domestic Toaster Production in Panama

In value terms, domestic toaster production totaled $X in 2022 estimated in export price. In general, production, however, continues to indicate a notable expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 187%. Domestic toaster production peaked at $X in 2020; afterwards, it flattened through to 2022.

Domestic Toaster Exports

Exports from Panama

In 2022, shipments abroad of domestic electric toasters decreased by -19.8% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 401% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, domestic toaster exports shrank sharply to $X in 2022. Over the period under review, exports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2016 when exports increased by 325%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Barbados (X units), Guyana (X units) and Chile (X units) were the main destinations of domestic toaster exports from Panama, together accounting for 83% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Barbados (with a CAGR of +39.8%), while the other leaders experienced more modest paces of growth.

In value terms, Barbados ($X) remains the key foreign market for domestic electric toasters exports from Panama, comprising 52% of total exports. The second position in the ranking was taken by Guyana ($X), with a 19% share of total exports. It was followed by Jamaica, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value to Barbados amounted to +43.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guyana (+4.9% per year) and Jamaica (+13.7% per year).

Export Prices by Country

The average domestic toaster export price stood at $X per unit in 2022, picking up by 2% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 19%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Suriname ($X per unit), while the average price for exports to Chile ($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 Suriname (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Domestic Toaster Imports

Imports into Panama

In 2022, supplies from abroad of domestic electric toasters decreased by -16.7% to X units, falling for the fourth year in a row after three years of growth. In general, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 117%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, domestic toaster imports reduced remarkably to $X in 2022. Overall, imports recorded a pronounced contraction. The pace of growth was the most pronounced in 2017 with an increase of 111%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Free Zones (X units), China (X units) and the United States (X units) were the main suppliers of domestic toaster imports to Panama, with a combined 97% share of total imports. Italy and Hong Kong SAR lagged somewhat behind, together accounting for a further 3%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +321.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest domestic toaster suppliers to Panama were Free Zones ($X), China ($X) and the United States ($X), together accounting for 97% of total imports. Italy and Hong Kong SAR lagged somewhat behind, together comprising a further 3%.

In terms of the main suppliers, Italy, with a CAGR of +336.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average domestic toaster import price stood at $X per unit in 2022, shrinking by -5.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2020 an increase of 14% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2021, and then dropped in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Hong Kong SAR ($X per unit) and Free Zones ($X per unit), while the price for Italy ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform