Panama: Market for Non-Domestic Percolators and Equipment For Cooking Or Heating Food 2024

Market Size for Non-Domestic Percolators and Equipment For Cooking Or Heating Food in Panama

The Panamanian market for non-domestic percolators and equipment for cooking or heating food surged to $X in 2022, with an increase of 85% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a significant expansion. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Exports of Non-Domestic Percolators and Equipment For Cooking Or Heating Food

Exports from Panama

In 2022, shipments abroad of non-domestic percolators and equipment for cooking or heating food was finally on the rise to reach X units for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports, however, recorded a deep downturn. The pace of growth was the most pronounced in 2017 when exports increased by 126% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, exports of non-domestic percolators and equipment for cooking or heating food surged to $X in 2022. In general, exports, however, showed a deep slump. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guatemala (X units), the Netherlands (X units) and Ecuador (X units) were the main destinations of exports of non-domestic percolators and equipment for cooking or heating food from Panama, with a combined 22% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +7.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X) emerged as the key foreign market for non-domestic percolators and equipment for cooking or heating food exports from Panama, comprising 16% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 7% share of total exports. It was followed by Ecuador, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value to Guatemala amounted to -7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-4.3% per year) and Ecuador (+10.2% per year).

Export Prices by Country

In 2022, the average export price for non-domestic percolators and equipment for cooking or heating food amounted to $X per unit, rising by 583% against the previous year. In general, the export price, however, saw a abrupt curtailment. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the 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 ($X per unit), while the average price for exports to Chile ($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 Ecuador (+2.8%), while the prices for the other major destinations experienced a decline.

Imports of Non-Domestic Percolators and Equipment For Cooking Or Heating Food

Imports into Panama

Imports of non-domestic percolators and equipment for cooking or heating food into Panama soared to X units in 2022, rising by 98% against 2021. Overall, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2017 with an increase of 1,483% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, imports of non-domestic percolators and equipment for cooking or heating food skyrocketed to $X in 2022. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 1,331% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X units) constituted the largest non-domestic percolators and equipment for cooking or heating food supplier to Panama, accounting for a 60% share of total imports. Moreover, imports of non-domestic percolators and equipment for cooking or heating food from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X units), sixfold. The third position in this ranking was taken by Italy (X units), with a 9.7% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +129.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+72.3% per year) and Italy (+78.1% per year).

In value terms, the United States ($X), Italy ($X) and Free Zones ($X) were the largest non-domestic percolators and equipment for cooking or heating food suppliers to Panama, with a combined 71% share of total imports.

Among the main suppliers, the United States, with a CAGR of +173.9%, saw the highest rates of growth with regard to 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

In 2022, the average import price for non-domestic percolators and equipment for cooking or heating food amounted to $X per unit, with a decrease of -10.7% against the previous year. Over the period under review, the import price saw a abrupt setback. The pace of growth was the most pronounced in 2014 when the average import price increased by 22% against the previous year. 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.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+19.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform