Panama: Leather Sports Gloves Market 2024

Leather Sports Gloves Market Size in Panama

In 2022, the Panamanian leather sports gloves market increased by 43% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, saw a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Leather Sports Gloves Production in Panama

In value terms, leather sports gloves production surged to $X in 2022 estimated in export price. Overall, production, however, showed a deep downturn. Leather sports gloves production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Leather Sports Gloves Exports

Exports from Panama

Leather sports gloves exports from Panama soared to X units in 2022, growing by 169% on the previous year's figure. Over the period under review, exports, however, continue to indicate a sharp contraction. The growth pace was the most rapid in 2015 with an increase of 870%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, leather sports gloves exports skyrocketed to $X in 2022. Overall, exports, however, recorded a sharp descent. The most prominent rate of growth was recorded in 2015 with an increase of 649%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guatemala (X units), Cuba (X units) and France (X units) were the main destinations of leather sports gloves exports from Panama, with a combined 42% share of total exports. The Philippines, Colombia, Costa Rica, Trinidad and Tobago, the UK, Aruba, Honduras, Venezuela, Nicaragua and the Dominican Republic lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +30.1%), while the other leaders experienced more modest paces of growth.

In value terms, Cuba ($X), Colombia ($X) and Guatemala ($X) appeared to be the largest markets for leather sports gloves exported from Panama worldwide, with a combined 50% share of total exports. France, the UK, Costa Rica, Trinidad and Tobago, Honduras, Aruba, Venezuela, Nicaragua, the Philippines and the Dominican Republic lagged somewhat behind, together accounting for a further 27%.

In terms of the main countries of destination, the UK, with a CAGR of +28.6%, saw the highest growth rate of 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 leather sports gloves export price stood at $X per unit in 2022, with a decrease of -8.9% against the previous year. Overall, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, leather sports gloves export price decreased by -35.6% against 2019 indices. The pace of growth was the most pronounced in 2017 an increase of 33%. Over the period under review, the average export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Cuba ($X per unit), while the average price for exports to the Philippines ($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 Nicaragua (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Sports Gloves Imports

Imports into Panama

In 2022, overseas purchases of leather sports gloves, mittens and mitts increased by 183% to X units for the first time since 2015, thus ending a six-year declining trend. In general, imports, however, saw a deep downturn. Imports peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, leather sports gloves imports surged to $X in 2022. Over the period under review, imports, however, recorded a deep reduction. The pace of growth was the most pronounced in 2015 with an increase of 115% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Free Zones (X units) constituted the largest supplier of leather sports gloves to Panama, accounting for a 55% share of total imports. Moreover, leather sports gloves imports from Free Zones exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold. The third position in this ranking was held by China (X units), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Free Zones totaled +70.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.4% per year) and China (-19.1% per year).

In value terms, Free Zones ($X), China ($X) and the United States ($X) constituted the largest leather sports gloves suppliers to Panama, with a combined 83% share of total imports.

Among the main suppliers, Free Zones, with a CAGR of +46.8%, recorded the highest growth rate of 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 leather sports gloves import price amounted to $X per unit, reducing by -38.6% against the previous year. Overall, the import price saw a abrupt curtailment. The growth pace was the most rapid in 2017 when the average import price increased by 36%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for Free Zones ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform