Panama: Metal Office Furniture Market 2025

Metal Office Furniture Market Size in Panama

In 2022, the Panamanian metal office furniture market increased by 11% to $X, rising for the second year in a row after two years of decline. In general, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +16.4% against 2020 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Metal Office Furniture Production in Panama

In value terms, metal office furniture production contracted modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.4% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 54%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Metal Office Furniture Exports

Exports from Panama

Metal office furniture exports from Panama dropped rapidly to X tons in 2022, which is down by -59.3% on the previous year. In general, exports continue to indicate a dramatic slump. The pace of growth was the most pronounced in 2015 when exports increased by 51%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, metal office furniture exports dropped sharply to $X in 2022. Over the period under review, exports faced a sharp reduction. The most prominent rate of growth was recorded in 2017 with an increase of 87% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Free Zones (X tons) was the main destination for metal office furniture exports from Panama, with a approx. 99% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Free Zones stood at -14.5%.

In value terms, Free Zones ($X) also remains the key foreign market for metal office furniture exports from Panama.

From 2012 to 2022, the average annual rate of growth in terms of value to Free Zones stood at -8.6%.

Export Prices by Country

The average metal office furniture export price stood at $X per ton in 2022, with a decrease of -2.3% against the previous year. In general, the export price, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 96% 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.

As there is only one major export destination, the average price level is determined by prices for Free Zones.

From 2012 to 2022, the rate of growth in terms of prices for Costa Rica amounted to +15.5% per year.

Metal Office Furniture Imports

Imports into Panama

In 2022, after four years of decline, there was significant growth in supplies from abroad of metal office furniture, when their volume increased by 77% to X tons. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 173% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, metal office furniture imports skyrocketed to $X in 2022. Overall, imports recorded mild growth. The most prominent rate of growth was recorded in 2017 when imports increased by 177%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest metal office furniture supplier to Panama, with a 61% share of total imports. Moreover, metal office furniture imports from China exceeded the figures recorded by the second-largest supplier, Free Zones (X tons), twofold. South Korea (X tons) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+62.9% per year) and South Korea (+8.0% per year).

In value terms, the largest metal office furniture suppliers to Panama were China ($X), Free Zones ($X) and Spain ($X), with a combined 76% share of total imports.

Free Zones, with a CAGR of +65.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal office furniture import price amounted to $X per ton, reducing by -6.2% against the previous year. Overall, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 an increase of 100%. As a result, import price reached the peak level of $X per ton. From 2015 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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform