Panama: Mixes And Doughs Market 2024

Mixes And Doughs Market Size in Panama

The Panamanian mixes and doughs market expanded to $X in 2022, picking up by 3.1% against the previous year. Over the period under review, consumption, however, recorded a remarkable increase. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Mixes And Doughs Production in Panama

In value terms, mixes and doughs production expanded notably to $X in 2022 estimated in export price. In general, production, however, saw a deep reduction. The pace of growth was the most pronounced in 2014 with an increase of 44% against the previous year. Mixes and doughs production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Mixes And Doughs Exports

Exports from Panama

In 2022, the amount of mixes and doughs exported from Panama declined rapidly to X kg, with a decrease of -99.4% on the previous year. Over the period under review, exports saw a precipitous slump. The most prominent rate of growth was recorded in 2014 when exports increased by 6,185% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, mixes and doughs exports contracted remarkably to $X in 2022. In general, exports saw a dramatic decline. The pace of growth was the most pronounced in 2014 with an increase of 4,876% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X kg) was the main destination for mixes and doughs exports from Panama, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia stood at +1.9%.

In value terms, Colombia ($X) emerged as the key foreign market for mixes and doughs exports from Panama.

From 2012 to 2022, the average annual growth rate of value to Colombia amounted to +7.6%.

Export Prices by Country

The average mixes and doughs export price stood at $X per ton in 2022, dropping by -12.3% against the previous year. Overall, the export price showed a perceptible reduction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 48%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Colombia amounted to +5.6% per year.

Mixes And Doughs Imports

Imports into Panama

In 2022, imports of mixes and doughs into Panama fell to X tons, which is down by -14% against the year before. In general, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 15,394%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, mixes and doughs imports reduced modestly to $X in 2022. Over the period under review, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 14,811% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of mixes and doughs to Panama, with a 81% share of total imports. Moreover, mixes and doughs imports from the United States exceeded the figures recorded by the second-largest supplier, Costa Rica (X tons), more than tenfold. Canada (X tons) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +85.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (+88.3% per year) and Canada (+106.4% per year).

In value terms, the United States ($X) constituted the largest supplier of mixes and doughs to Panama, comprising 85% of total imports. The second position in the ranking was taken by France ($X), with a 3.7% share of total imports. It was followed by Costa Rica, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +96.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+196.4% per year) and Costa Rica (+99.3% per year).

Import Prices by Country

In 2022, the average mixes and doughs import price amounted to $X per ton, surging by 13% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mixes and doughs import price increased by +20.7% against 2019 indices. The growth pace was the most rapid in 2016 when the average import price increased by 42%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

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 France ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform