Panama: Non-Self-Propelled Fork-Lift Truck Market 2024

Non-Self-Propelled Fork-Lift Truck Market Size in Panama

The Panamanian non-self-propelled fork-lift truck market surged to $X in 2022, with an increase of 72% against the previous year. In general, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +79.7% against 2019 indices. Non-self-propelled fork-lift truck consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Non-Self-Propelled Fork-Lift Truck Production in Panama

In value terms, non-self-propelled fork-lift truck production soared to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2020 with an increase of 1,078% against the previous year. Non-self-propelled fork-lift truck production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Non-Self-Propelled Fork-Lift Truck Exports

Exports from Panama

After two years of decline, overseas shipments of non-self-propelled fork-lift trucks increased by 5.1% to X units in 2022. In general, exports saw a measured increase. The pace of growth appeared the most rapid in 2016 with an increase of 83% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-self-propelled fork-lift truck exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a deep setback. The pace of growth was the most pronounced in 2014 with an increase of 95%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units), Chile (X units) and Costa Rica (X units) were the main destinations of non-self-propelled fork-lift truck exports from Panama, with a combined 48% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +31.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for non-self-propelled fork-lift trucks exports from Panama, comprising 25% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 13% share of total exports. It was followed by the Dominican Republic, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +27.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+22.0% per year) and the Dominican Republic (+13.7% per year).

Export Prices by Country

The average non-self-propelled fork-lift truck export price stood at $X per unit in 2022, jumping by 19% against the previous year. Overall, the export price, however, continues to indicate a deep setback. The pace of growth appeared the most rapid in 2014 when the average export price increased by 134% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($X per unit), while the average price for exports to Barbados ($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 Chile (+72.3%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Self-Propelled Fork-Lift Truck Imports

Imports into Panama

In 2022, the amount of non-self-propelled fork-lift trucks imported into Panama skyrocketed to X units, with an increase of 210% on 2021. Over the period under review, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 2,225% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, non-self-propelled fork-lift truck imports skyrocketed to $X in 2022. In general, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 1,630% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest non-self-propelled fork-lift truck supplier to Panama, accounting for a 75% share of total imports. Moreover, non-self-propelled fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, Free Zones (X units), fourfold. The third position in this ranking was held by France (X units), with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+36.3% per year) and France (+71.7% per year).

In value terms, Free Zones ($X), China ($X) and France ($X) were the largest non-self-propelled fork-lift truck suppliers to Panama, with a combined 84% share of total imports.

In terms of the main suppliers, France, with a CAGR of +81.3%, 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 non-self-propelled fork-lift truck import price amounted to $X per unit, which is down by -20.8% against the previous year. Over the period under review, the import price saw a abrupt decline. The most prominent rate of growth was recorded in 2016 an increase of 40%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+5.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform