Panama: Market for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters 2025

Market Size for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters in Panama

In 2022, the Panamanian electric oven and cooker market decreased by -1% to $X for the first time since 2019, thus ending a two-year rising trend. In general, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +0.3% against 2018 indices. Electric oven and cooker consumption peaked at $X in 2021, and then shrank modestly in the following year.

Production of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters in Panama

In value terms, electric oven and cooker production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 40% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Exports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Exports from Panama

In 2022, shipments abroad of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters increased by 108% to X units for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports, however, recorded a deep setback. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, electric oven and cooker exports contracted to $X in 2022. Overall, exports, however, saw a sharp reduction. The pace of growth appeared the most rapid in 2017 when exports increased by 30% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Cuba (X units) was the main destination for electric oven and cooker exports from Panama, with a 19% share of total exports. Moreover, electric oven and cooker exports to Cuba exceeded the volume sent to the second major destination, Venezuela (X units), threefold. Colombia (X units) ranked third in terms of total exports with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cuba stood at -17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-31.6% per year) and Colombia (-25.0% per year).

In value terms, Cuba ($X) remains the key foreign market for electric ovens, cookers, cooking plates, boiling rings, grillers and roasters exports from Panama, comprising 45% of total exports. The second position in the ranking was held by Venezuela ($X), with a 15% share of total exports. It was followed by Colombia, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value to Cuba amounted to -22.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-35.8% per year) and Colombia (-29.5% per year).

Export Prices by Country

In 2022, the average electric oven and cooker export price amounted to $X per unit, waning by -58.5% against the previous year. In general, the export price showed a deep slump. The pace of growth was the most pronounced in 2018 when the average export price increased by 53%. Over the period under review, the average export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Cuba ($X per unit) and Colombia ($X per unit), while the average price for exports to Honduras ($X per unit) and the Dominican Republic ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cuba (-6.0%), while the prices for the other major destinations experienced a decline.

Imports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Imports into Panama

For the third year in a row, Panama recorded decline in overseas purchases of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters, which decreased by -15.8% to X units in 2022. In general, imports saw a abrupt slump. The pace of growth was the most pronounced in 2017 when imports increased by 232% 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, electric oven and cooker imports fell to $X in 2022. Over the period under review, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 when imports increased by 200%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Free Zones (X units) constituted the largest supplier of electric oven and cooker to Panama, accounting for a 48% share of total imports. Moreover, electric oven and cooker imports from Free Zones exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. The third position in this ranking was held by China (X units), with a 20% share.

From 2012 to 2022, the average annual growth rate of volume from Free Zones amounted to +56.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.9% per year) and China (-17.4% per year).

In value terms, Free Zones ($X) constituted the largest supplier of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters to Panama, comprising 48% of total imports. The second position in the ranking was held by the United States ($X), with a 20% share of total imports. It was followed by China, with a 20% share.

From 2012 to 2022, the average annual growth rate of value from Free Zones amounted to +56.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.9% per year) and China (-17.5% per year).

Import Prices by Country

The average electric oven and cooker import price stood at $X per unit in 2022, with an increase of 9.9% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform