Panama: Market for Marble And Travertine Blocks And Slabs 2024

Market Size for Marble And Travertine Blocks And Slabs in Panama

The Panamanian marble and travertine blocks market totaled $X in 2022, surging by 1.8% against the previous year. Over the period under review, consumption, however, saw a pronounced downturn. Marble and travertine blocks consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Marble And Travertine Blocks And Slabs in Panama

In value terms, marble and travertine blocks production stood at $X in 2022 estimated in export price. In general, production, however, showed a pronounced shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 18% against the previous year. Marble and travertine blocks production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Marble And Travertine Blocks And Slabs

Exports from Panama

In 2022, approx. X tons of marble and travertine blocks and slabs were exported from Panama; jumping by 48% compared with 2021 figures. Over the period under review, exports, however, showed a precipitous slump. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, marble and travertine blocks exports soared to $X in 2022. Overall, exports, however, showed a significant decline. The pace of growth appeared the most rapid in 2013 when exports increased by 60%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Venezuela (X tons) was the main destination for marble and travertine blocks exports from Panama, with a 54% share of total exports. Moreover, marble and travertine blocks exports to Venezuela exceeded the volume sent to the second major destination, Guatemala (X kg), fourfold. The third position in this ranking was taken by the Dominican Republic (X kg), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Venezuela was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+14.9% per year) and the Dominican Republic (-40.7% per year).

In value terms, Venezuela ($X) remains the key foreign market for marble and travertine blocks and slabs exports from Panama, comprising 96% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 1.6% share of total exports. It was followed by the Dominican Republic, with a 1.1% share.

From 2012 to 2022, the average annual growth rate of value to Venezuela totaled -6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-25.6% per year) and the Dominican Republic (-53.4% per year).

Export Prices by Country

The average marble and travertine blocks export price stood at $X per ton in 2022, shrinking by -2% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 22%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 Venezuela ($X per ton), while the average price for exports to the Dominican Republic ($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 Venezuela (-6.0%), while the prices for the other major destinations experienced a decline.

Imports of Marble And Travertine Blocks And Slabs

Imports into Panama

In 2022, supplies from abroad of marble and travertine blocks and slabs increased by 1,123% to X tons, rising for the second consecutive year after two years of decline. Overall, imports showed a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 2,371%. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, marble and travertine blocks imports surged to $X in 2022. In general, imports, however, saw a abrupt curtailment. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Mexico (X tons) and Free Zones (X tons) were the main suppliers of marble and travertine blocks imports to Panama.

From 2012 to 2022, the biggest increases were recorded for Free Zones (with a CAGR of +10,764.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of marble and travertine blocks and slabs to Panama, comprising 67% of total imports. The second position in the ranking was held by Mexico ($X), with a 28% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+6.7% per year) and Free Zones (+4,785.4% per year).

Import Prices by Country

The average marble and travertine blocks import price stood at $X per ton in 2022, surging by 2.9% against the previous year. Over the period under review, the import price, however, saw a sharp shrinkage. The pace of growth was the most pronounced in 2019 when the average import price increased by 25% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform