Panama: Meat Dishes Market 2024

Meat Dishes Market Size in Panama

In 2022, after two years of growth, there was significant decline in the Panamanian meat dishes market, when its value decreased by -7.1% to $X. Over the period under review, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +7.1% against 2019 indices. Meat dishes consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Meat Dishes Production in Panama

In value terms, meat dishes production expanded notably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2013 with an increase of 44% against the previous year. Meat dishes production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Meat Dishes Exports

Exports from Panama

Meat dishes exports from Panama declined significantly to X tons in 2022, with a decrease of -52.1% against 2021. In general, exports, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 9,796%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, meat dishes exports shrank rapidly to $X in 2022. Over the period under review, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2016 when exports increased by 5,421%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

El Salvador (X tons), Trinidad and Tobago (X tons) and Honduras (X tons) were the main destinations of meat dishes exports from Panama, with a combined 76% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Trinidad and Tobago (with a CAGR of +133.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for meat dishes exported from Panama were El Salvador ($X), Trinidad and Tobago ($X) and Honduras ($X), with a combined 78% share of total exports.

Trinidad and Tobago, with a CAGR of +157.1%, saw the highest rates of growth with regard to 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

The average meat dishes export price stood at $X per ton in 2022, falling by -5.9% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average export price increased by 98%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Nicaragua ($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 Trinidad and Tobago (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Meat Dishes Imports

Imports into Panama

Meat dishes imports into Panama dropped dramatically to X tons in 2022, reducing by -16.6% on 2021 figures. Over the period under review, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 2,624%. Imports peaked at X tons in 2021, and then dropped markedly in the following year.

In value terms, meat dishes imports dropped rapidly to $X in 2022. In general, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 3,779% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then declined remarkably in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest meat dishes supplier to Panama, accounting for a 72% share of total imports. Moreover, meat dishes imports from the United States exceeded the figures recorded by the second-largest supplier, Denmark (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +110.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-2.6% per year) and Brazil (+68.4% per year).

In value terms, the United States ($X) constituted the largest supplier of meat dishes to Panama, comprising 72% of total imports. The second position in the ranking was taken by Denmark ($X), with a 22% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +121.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-1.4% per year) and Brazil (+66.1% per year).

Import Prices by Country

The average meat dishes import price stood at $X per ton in 2022, approximately equating the previous year. In general, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, meat dishes import price increased by +46.7% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of 113% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained 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 Denmark ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform