Panama: Market for Nets of Twine, Cordage, Rope or Textile Materials 2025

Market Size for Nets of Twine, Cordage, Rope or Textile Materials in Panama

The Panamanian market for nets of twine, cordage, rope or textile materials rose significantly to $X in 2022, picking up by 12% against the previous year. In general, consumption recorded prominent growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Production of Nets of Twine, Cordage, Rope or Textile Materials in Panama

In value terms, twine, cordage or textile net production rose markedly to $X in 2022 estimated in export price. Over the period under review, production recorded buoyant growth. The pace of growth was the most pronounced in 2015 with an increase of 52% against the previous year. Twine, cordage or textile net production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Nets of Twine, Cordage, Rope or Textile Materials

Exports from Panama

In 2022, shipments abroad of nets of twine, cordage, rope or textile materials was finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, continue to indicate a perceptible decrease. The pace of growth was the most pronounced in 2014 with an increase of 57%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, twine, cordage or textile net exports shrank to $X in 2022. Overall, exports, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2014 when exports increased by 50%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Nicaragua (X tons) was the main destination for twine, cordage or textile net exports from Panama, with a 18% share of total exports. Moreover, twine, cordage or textile net exports to Nicaragua exceeded the volume sent to the second major destination, Colombia (X tons), twofold. The United States (X tons) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume to Nicaragua amounted to +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+23.1% per year) and the United States (+39.9% per year).

In value terms, Nicaragua ($X) remains the key foreign market for nets of twine, cordage, rope or textile materials exports from Panama, comprising 17% of total exports. The second position in the ranking was taken by Colombia ($X), with a 7.9% share of total exports. It was followed by the United States, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value to Nicaragua amounted to +1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+21.0% per year) and the United States (+37.9% per year).

Export Prices by Country

In 2022, the average export price for nets of twine, cordage, rope or textile materials amounted to $X per ton, falling by -10.6% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 26% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to El Salvador ($X per ton) and Trinidad and Tobago ($X per ton), while the average price for exports to Nicaragua ($X per ton) and Venezuela ($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 Trinidad and Tobago (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nets of Twine, Cordage, Rope or Textile Materials

Imports into Panama

In 2022, supplies from abroad of nets of twine, cordage, rope or textile materials increased by 46% to X tons, rising for the second consecutive year after three years of decline. Overall, imports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2017 when imports increased by 140% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, twine, cordage or textile net imports soared to $X in 2022. In general, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by 145% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Free Zones (X tons) constituted the largest twine, cordage or textile net supplier to Panama, with a 51% share of total imports. Moreover, twine, cordage or textile net imports from Free Zones exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Vietnam (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Free Zones amounted to +177.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.7% per year) and Vietnam (+14.6% per year).

In value terms, Free Zones ($X) constituted the largest supplier of nets of twine, cordage, rope or textile materials to Panama, comprising 45% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 14% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Free Zones stood at +155.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+10.9% per year) and China (-3.4% per year).

Import Prices by Country

In 2022, the average import price for nets of twine, cordage, rope or textile materials amounted to $X per ton, which is down by -3.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2013 an increase of 6.9% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 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 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 Nicaragua (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform