Panama: Lamp Holder Market 2024

Lamp Holder Market Size in Panama

The Panamanian lamp holder market shrank slightly to $X in 2022, dropping by -3.9% against the previous year. In general, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +21.7% against 2020 indices. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Lamp Holder Production in Panama

In value terms, lamp holder production rose modestly to $X in 2022 estimated in export price. In general, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.6% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 73% against the previous year. Lamp holder production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Lamp Holder Exports

Exports from Panama

For the third consecutive year, Panama recorded decline in shipments abroad of lamp holders, plugs and sockets, which decreased by -7.8% to X tons in 2022. In general, exports recorded a dramatic slump. The pace of growth appeared the most rapid in 2016 with an increase of 228%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, lamp holder exports declined to $X in 2022. Over the period under review, exports faced a sharp shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 149% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Ecuador (X tons), Jamaica (X tons) and Peru (X tons) were the main destinations of lamp holder exports from Panama, together comprising 11% of total exports.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +282.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X), Peru ($X) and the United States ($X) were the largest markets for lamp holder exported from Panama worldwide.

Peru, with a CAGR of +446.3%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average lamp holder export price amounted to $X per ton, which is down by -17.9% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 82%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+42.7%), while the prices for the other major destinations experienced more modest paces of growth.

Lamp Holder Imports

Imports into Panama

In 2022, approx. X tons of lamp holders, plugs and sockets were imported into Panama; dropping by -17.2% against 2021. Over the period under review, imports, however, showed a noticeable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 163%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, lamp holder imports contracted to $X in 2022. In general, imports, however, posted strong growth. The growth pace was the most rapid in 2017 with an increase of 559% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Free Zones (X tons) and the United States (X tons) were the main suppliers of lamp holder imports to Panama, together comprising 0.9% of total imports. Mexico, Costa Rica, Indonesia and Spain lagged somewhat behind, together comprising a further 0.1%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +34.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Free Zones ($X), the United States ($X) and China ($X) were the largest lamp holder suppliers to Panama, together accounting for 80% of total imports. Mexico, Spain, Costa Rica and Indonesia lagged somewhat behind, together comprising a further 10%.

Mexico, with a CAGR of +31.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average lamp holder import price amounted to $X per ton, declining by -25.4% against the previous year. In general, the import price, however, continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2017 an increase of 150%. The import price peaked at $X per ton in 2020, and then dropped sharply in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Free Zones (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform