Panama: Market for Jute And Jute-Like Fibers 2025

Market Size for Jute And Jute-Like Fibers in Panama

The Panamanian jute and jute-like fibers market fell significantly to $X in 2022, which is down by -47.2% 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 saw a precipitous descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Exports of Jute And Jute-Like Fibers

Exports from Panama

In 2022, approx. X kg of jute and jute-like fibers were exported from Panama; dropping by -1.9% on the previous year's figure. In general, exports saw a drastic downturn. The growth pace was the most rapid in 2019 when exports increased by 6.9%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, jute and jute-like fibers exports reached $X in 2022. Over the period under review, exports continue to indicate a deep setback. The growth pace was the most rapid in 2019 with an increase of 73%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Venezuela (X kg), Colombia (X kg) and Costa Rica (X kg) were the main destinations of jute and jute-like fibers exports from Panama, together comprising 92% of total exports.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of +9.0%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for jute and jute-like fibers exported from Panama were Venezuela ($X), Colombia ($X) and the Dominican Republic ($X), with a combined 81% share of total exports. Costa Rica, El Salvador, Honduras and Guatemala lagged somewhat behind, together accounting for a further 18%.

Among the main countries of destination, Costa Rica, with a CAGR of -2.2%, 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 a decline.

Export Prices by Country

In 2022, the average jute and jute-like fibers export price amounted to $X per ton, increasing by 11% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 62% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Guatemala ($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 the Dominican Republic (+27.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Jute And Jute-Like Fibers

Imports into Panama

Jute and jute-like fibers imports into Panama fell rapidly to X tons in 2022, waning by -44.1% against 2021 figures. Over the period under review, imports recorded a significant decline. The pace of growth appeared the most rapid in 2016 when imports increased by 274%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, jute and jute-like fibers imports fell notably to $X in 2022. Overall, imports faced a sharp downturn. The pace of growth appeared the most rapid in 2016 with an increase of 296% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X kg), the United States (X kg) and Taiwan (Chinese) (X kg) were the main suppliers of jute and jute-like fibers imports to Panama, together comprising 87% of total imports. Nicaragua and Colombia lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Nicaragua (with a CAGR of +52.5%), while imports for the other leaders experienced a decline.

In value terms, the largest jute and jute-like fibers suppliers to Panama were China ($X), the United States ($X) and Taiwan (Chinese) ($X), together accounting for 78% of total imports. Colombia and Nicaragua lagged somewhat behind, together comprising a further 12%.

In terms of the main suppliers, Nicaragua, with a CAGR of +14.6%, 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 a decline.

Import Prices by Country

In 2022, the average jute and jute-like fibers import price amounted to $X per ton, picking up by 31% against the previous year. In general, the import price, however, saw a noticeable setback. The import price peaked at $X per ton in 2014; however, from 2015 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 Colombia ($X per ton), while the price for Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform