Panama: First-Aid Kit Market 2024

First-Aid Kit Market Size in Panama

The Panamanian first-aid kit market surged to $X in 2022, increasing by 954% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed buoyant growth. First-aid kit consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

First-Aid Kit Exports

Exports from Panama

In 2022, after two years of growth, there was significant decline in shipments abroad of first-aid boxes and kits, when their volume decreased by -43.6% to X tons. Overall, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 628% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted markedly in the following year.

In value terms, first-aid kit exports declined significantly to $X in 2022. Over the period under review, exports, however, recorded a significant increase. The growth pace was the most rapid in 2021 when exports increased by 430% against the previous year. As a result, the exports reached the peak of $X, and then fell notably in the following year.

Exports by Country

Belize (X tons) was the main destination for first-aid kit exports from Panama, accounting for a 62% share of total exports. Moreover, first-aid kit exports to Belize exceeded the volume sent to the second major destination, Suriname (X tons), fourfold. The third position in this ranking was held by Singapore (X kg), with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume to Belize totaled +73.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Suriname (+23.1% per year) and Singapore (+27.5% per year).

In value terms, Suriname ($X), Belize ($X) and Singapore ($X) were the largest markets for first-aid kit exported from Panama worldwide, together accounting for 90% of total exports.

Among the main countries of destination, Belize, with a CAGR of +102.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average first-aid kit export price stood at $X per ton in 2022, surging by 5.5% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 181% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

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 Suriname ($X per ton), while the average price for exports to Belize ($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 Saint Vincent and the Grenadines (+22.3%), while the prices for the other major destinations experienced more modest paces of growth.

First-Aid Kit Imports

Imports into Panama

First-aid kit imports into Panama surged to X tons in 2022, picking up by 76% on 2021 figures. Overall, imports posted a prominent increase. The growth pace was the most rapid in 2014 when imports increased by 1,428% against the previous year. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, first-aid kit imports skyrocketed to $X in 2022. In general, imports saw a buoyant increase. The pace of growth was the most pronounced in 2014 when imports increased by 1,112%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of first-aid kit to Panama, with a 72% share of total imports. Moreover, first-aid kit imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +50.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.6% per year) and Free Zones (-21.1% per year).

In value terms, the United States ($X), China ($X) and Free Zones ($X) were the largest first-aid kit suppliers to Panama, together comprising 95% of total imports.

Among the main suppliers, the United States, with a CAGR of +55.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average first-aid kit import price amounted to $X per ton, declining by -3.5% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 76%. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 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 Free Zones ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform