Panama: Metal Domestic Furniture Market 2024

Metal Domestic Furniture Market Size in Panama

The Panamanian metal domestic furniture market skyrocketed to $X in 2022, surging by X% against the previous year. Overall, consumption posted prominent growth. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in years to come.

Metal Domestic Furniture Production in Panama

In value terms, metal domestic furniture production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Metal Domestic Furniture Exports

Exports from Panama

In 2022, after two years of decline, there was significant growth in overseas shipments of metal furniture, when their volume increased by X% to X tons. In general, exports, however, continue to indicate a significant contraction. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, metal domestic furniture exports surged to $X in 2022. Over the period under review, exports, however, showed a dramatic curtailment. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Free Zones (X tons) was the main destination for metal domestic furniture exports from Panama, with a X% share of total exports. Moreover, metal domestic furniture exports to Free Zones exceeded the volume sent to the second major destination, Cuba (X tons), sevenfold. The third position in this ranking was held by Bahamas (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (X% per year) and Bahamas (X% per year).

In value terms, Free Zones ($X) remains the key foreign market for metal furniture exports from Panama, comprising X% of total exports. The second position in the ranking was held by Cuba ($X), with a X% share of total exports. It was followed by Bahamas, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Free Zones totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (X% per year) and Bahamas (X% per year).

Export Prices by Country

The average metal domestic furniture export price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price, however, posted a noticeable expansion. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Colombia ($X per ton) and Bahamas ($X per ton), while the average price for exports to Cuba ($X per ton) and Free Zones ($X per ton) were amongst the lowest.

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

Metal Domestic Furniture Imports

Imports into Panama

Metal domestic furniture imports into Panama reduced to X tons in 2022, declining by X% on 2021. In general, imports, however, saw modest growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, metal domestic furniture imports amounted to $X in 2022. Overall, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal domestic furniture to Panama, with a X% share of total imports. Moreover, metal domestic furniture imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. Free Zones (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and Free Zones (X% per year).

In value terms, China ($X) constituted the largest supplier of metal furniture to Panama, comprising X% of total imports. The second position in the ranking was taken by Free Zones ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (X% per year) and the United States (X% per year).

Import Prices by Country

The average metal domestic furniture import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal domestic furniture import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

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 Mexico ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform