Panama: Mower Market 2024

Mower Market Size in Panama

The Panamanian mower market declined to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Mower Production in Panama

In value terms, mower production expanded markedly to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Mower Exports

Exports from Panama

For the sixth consecutive year, Panama recorded decline in shipments abroad of mowers, which decreased by X% to X units in 2022. Over the period under review, exports showed a deep reduction. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, mower exports reduced remarkably to $X in 2022. Overall, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Costa Rica (X units), Venezuela (X units) and Jamaica (X units) were the main destinations of mower exports from Panama, with a combined X% share of total exports. Colombia, the United States, Honduras, Nicaragua, Guatemala, the Dominican Republic, Cuba, Guyana, Antigua and Barbuda and Belize lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mower exported from Panama were Costa Rica ($X), Venezuela ($X) and the United States ($X), with a combined X% share of total exports. Jamaica, Colombia, Honduras, Nicaragua, Guyana, Guatemala, the Dominican Republic, Cuba, Antigua and Barbuda and Belize lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Jamaica, with a CAGR of X%, recorded the highest rates of growth with regard to 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 mower export price stood at $X per unit in 2022, approximately equating the previous year. In general, export price indicated a perceptible increase 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, mower export price decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 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 Antigua and Barbuda ($X per unit), while the average price for exports to Cuba ($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 Antigua and Barbuda (X%), while the prices for the other major destinations experienced mixed trend patterns.

Mower Imports

Imports into Panama

In 2022, mower imports into Panama reduced notably to X units, with a decrease of X% on 2021 figures. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, mower imports reduced rapidly to $X in 2022. In general, imports recorded a pronounced reduction. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Free Zones (X units), China (X units) and the United States (X units) were the main suppliers of mower imports to Panama, with a combined X% share of total imports. France, Brazil, Mexico and Italy lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Free Zones ($X), China ($X) and the United States ($X) were the largest mower suppliers to Panama, together accounting for X% of total imports. France, Mexico, Italy and Brazil lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, France, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average mower import price stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, the import price, however, saw a pronounced downturn. The growth pace was the most rapid in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per unit), while the price for China ($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 (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform