Panama: Domestic Electro-Thermic Appliances Market 2024

Domestic Electro-Thermic Appliances Market Size in Panama

The Panamanian domestic electro-thermic appliances market contracted to $X in 2022, with a decrease of X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Domestic Electro-Thermic Appliances Production in Panama

In value terms, domestic electro-thermic appliances production dropped slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a mild expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Domestic electro-thermic appliances production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Domestic Electro-Thermic Appliances Exports

Exports from Panama

In 2022, approx. X units of domestic electro-thermic appliances were exported from Panama; remaining constant against 2021 figures. Overall, exports faced a abrupt decrease. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, domestic electro-thermic appliances exports amounted to $X in 2022. In general, exports saw a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Cuba (X units) was the main destination for domestic electro-thermic appliances exports from Panama, with a X% share of total exports. Moreover, domestic electro-thermic appliances exports to Cuba exceeded the volume sent to the second major destination, Venezuela (X units), threefold. The third position in this ranking was taken by Colombia (X units), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Cuba amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (X% per year) and Colombia (X% per year).

It was followed by Colombia, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Cuba amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (X% per year) and Colombia (X% per year).

Export Prices by Country

The average domestic electro-thermic appliances export price stood at $X per unit in 2022, remaining constant against the previous year. Over the period under review, the export price recorded a strong increase. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

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 Venezuela ($X per unit), while the average price for exports to Barbados ($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 Colombia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Domestic Electro-Thermic Appliances Imports

Imports into Panama

In 2022, the amount of domestic electro-thermic appliances imported into Panama fell remarkably to X units, reducing by X% compared with the previous year's figure. In general, imports faced a deep setback. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, domestic electro-thermic appliances imports declined notably to $X in 2022. Overall, imports continue to indicate a abrupt setback. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Free Zones (X units), China (X units) and the United States (X units) were the main suppliers of domestic electro-thermic appliances imports to Panama, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Free Zones (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, the largest domestic electro-thermic appliances suppliers to Panama were Free Zones ($X), China ($X) and the United States ($X), together comprising X% of total imports.

Free Zones, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average domestic electro-thermic appliances import price stood at $X per unit in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Free Zones ($X per unit) and Hong Kong SAR ($X per unit), while the price for the United States ($X per unit) and China ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform