Panama: Market for Mattresses other than of cellular rubber or plastics 2024

Market Size for Mattresses other than of cellular rubber or plastics in Panama

The Panamanian market for mattresses other than of cellular rubber or plastics shrank significantly to $X in 2022, which is down by -21.9% 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). In general, consumption, however, saw a moderate expansion. As a result, consumption attained the peak level of $X, and then contracted dramatically in the following year.

Exports of Mattresses other than of cellular rubber or plastics

Exports from Panama

Exports of mattresses other than of cellular rubber or plastics from Panama soared to X units in 2022, rising by 99% compared with 2021. Over the period under review, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 142% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of mattresses other than of cellular rubber or plastics surged to $X in 2022. In general, exports, however, saw a drastic downturn. The growth pace was the most rapid in 2016 when exports increased by 67% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Cuba (X units) was the main destination for exports of mattresses other than of cellular rubber or plastics from Panama, accounting for a 75% share of total exports. Moreover, exports of mattresses other than of cellular rubber or plastics to Cuba exceeded the volume sent to the second major destination, Free Zones (X units), threefold.

From 2012 to 2022, the average annual growth rate of volume to Cuba stood at -6.4%.

In value terms, the largest markets for mattresses other than of cellular rubber or plastics exported from Panama were Cuba ($X) and Free Zones ($X).

In terms of the main countries of destination, Cuba, with a CAGR of -4.2%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average export price for mattresses other than of cellular rubber or plastics stood at $X per unit in 2022, shrinking by -40.7% against the previous year. In general, the export price recorded a slight setback. The growth pace was the most rapid in 2017 an increase of 89%. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Free Zones ($X per unit), while the average price for exports to Cuba amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mattresses other than of cellular rubber or plastics

Imports into Panama

In 2022, the amount of mattresses other than of cellular rubber or plastics imported into Panama contracted notably to X units, which is down by -23.4% compared with 2021 figures. Overall, imports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2017 when imports increased by 578%. Over the period under review, imports of hit record highs at X units in 2021, and then shrank remarkably in the following year.

In value terms, imports of mattresses other than of cellular rubber or plastics declined sharply to $X in 2022. In general, imports, however, recorded a significant increase. The pace of growth was the most pronounced in 2017 when imports increased by 533%. Imports peaked at $X in 2021, and then dropped markedly in the following year.

Imports by Country

China (X units), Guatemala (X units) and Costa Rica (X units) were the main suppliers of imports of mattresses other than of cellular rubber or plastics to Panama, together accounting for 59% of total imports. El Salvador, the United States, Mexico, Honduras and Free Zones lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Free Zones (with a CAGR of +173.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Guatemala ($X) and Costa Rica ($X) appeared to be the largest mattresses other than of cellular rubber or plastics suppliers to Panama, together accounting for 59% of total imports. El Salvador, the United States, Mexico, Honduras and Free Zones lagged somewhat behind, together comprising a further 33%.

Among the main suppliers, Free Zones, with a CAGR of +177.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for mattresses other than of cellular rubber or plastics stood at $X per unit in 2022, increasing by 3.9% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 41%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Honduras ($X per unit) and Costa Rica ($X per unit), while the price for Free Zones ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform