Panama: Market for Machinery For Sorting, Mixing, Agglomerating, Shaping Or Moulding of Mined Solids 2024

Market Size for Machinery For Sorting, Mixing, Agglomerating, Shaping Or Moulding of Mined Solids in Panama

The Panamanian market for machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids rose modestly to $X in 2022, picking up by 4.7% against the previous year. Overall, consumption continues to indicate slight growth. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Machinery For Sorting, Mixing, Agglomerating, Shaping Or Moulding of Mined Solids in Panama

In value terms, production of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids fell to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 114%. Production of peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Machinery For Sorting, Mixing, Agglomerating, Shaping Or Moulding of Mined Solids

Exports from Panama

In 2022, shipments abroad of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids decreased by -33% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded a remarkable increase. The growth pace was the most rapid in 2015 when exports increased by 252% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids contracted remarkably to $X in 2022. Overall, exports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 252%. Over the period under review, the exports of hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for exports of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids from Panama, with a 62% share of total exports. Moreover, exports of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids to the United States exceeded the volume sent to the second major destination, Mexico (X units), sevenfold. The third position in this ranking was taken by Cuba (X units), with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +31.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+3.2% per year) and Cuba (+17.0% per year).

In value terms, the largest markets for machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids exported from Panama were Guatemala ($X), the United States ($X) and Costa Rica ($X), with a combined 56% share of total exports.

In terms of the main countries of destination, Costa Rica, with a CAGR of +25.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids stood at $X per unit in 2022, increasing by 16% against the previous year. Over the period under review, the export price, however, showed a noticeable curtailment. The pace of growth was the most pronounced in 2019 an increase of 299%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average 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 Guatemala ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+632.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machinery For Sorting, Mixing, Agglomerating, Shaping Or Moulding of Mined Solids

Imports into Panama

In 2022, the amount of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids imported into Panama surged to X units, increasing by 81% on the year before. Overall, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 1,970%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, imports of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids surged to $X in 2022. Over the period under review, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 1,035% against the previous year. Over the period under review, imports of hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Free Zones (X units) constituted the largest machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids supplier to Panama, with a 31% share of total imports. Moreover, imports of machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids from Free Zones exceeded the figures recorded by the second-largest supplier, Colombia (X units), twofold. The third position in this ranking was taken by Brazil (X units), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Free Zones totaled +64.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+48.5% per year) and Brazil (+41.8% per year).

In value terms, the largest machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids suppliers to Panama were Free Zones ($X), Sweden ($X) and Colombia ($X), with a combined 34% share of total imports.

Sweden, with a CAGR of +75.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 machinery for sorting, mixing, agglomerating, shaping or moulding of mined solids stood at $X per unit in 2022, with a decrease of -27.4% against the previous year. In general, the import price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 247%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

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 Costa Rica ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform