Panama: Knitting Machine Market 2025

Knitting Machine Market Size in Panama

In 2022, the Panamanian knitting machine market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, saw a prominent expansion. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Knitting Machine Production in Panama

In value terms, knitting machine production expanded to $X in 2022 estimated in export price. Overall, production saw a pronounced decrease. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Knitting Machine Exports

Exports from Panama

In 2022, the amount of flat knitting machines, stitch-bonding machines and warp knitting machines exported from Panama totaled X units, approximately reflecting 2021. Over the period under review, exports showed a deep reduction. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, knitting machine exports expanded notably to $X in 2022. Overall, exports continue to indicate a sharp setback. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guatemala (X units), Venezuela (X units) and the Dominican Republic (X units) were the main destinations of knitting machine exports from Panama.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for knitting machine exported from Panama were the Dominican Republic ($X), Venezuela ($X) and Guatemala ($X), together accounting for X% of total exports.

The Dominican Republic, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average knitting machine export price stood at $X per unit in 2022, growing by X% against the previous year. Overall, the export price, however, faced a abrupt decline. The growth pace was the most rapid in 2015 when the average export price increased by X%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood 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 the Dominican Republic ($X per unit), while the average price for exports to Guatemala ($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 the Dominican Republic (X%), while the prices for the other major destinations experienced a decline.

Knitting Machine Imports

Imports into Panama

In 2022, the amount of flat knitting machines, stitch-bonding machines and warp knitting machines imported into Panama shrank significantly to X units, with a decrease of X% against the previous year. Over the period under review, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, knitting machine imports dropped remarkably to $X in 2022. Overall, imports continue to indicate a dramatic contraction. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Colombia (X units) was the main knitting machine supplier to Panama, with a approx. X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Colombia amounted to X%.

In value terms, Colombia ($X) constituted the largest supplier of flat knitting machines, stitch-bonding machines and warp knitting machines to Panama.

From 2012 to 2022, the average annual growth rate of value from Colombia amounted to X%.

Import Prices by Country

In 2022, the average knitting machine import price amounted to $X per unit, which is down by X% against the previous year. Overall, the import price recorded a abrupt setback. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Colombia.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Source: IndexBox Platform