Panama: Market for Non-Upholstered Seats With Wooden Frames 2024

Market Size for Non-Upholstered Seats With Wooden Frames in Panama

The Panamanian wooden frame non-upholstered seat market rose modestly to $X in 2022, increasing by 2.5% against the previous year. Over the period under review, consumption, however, showed a mild contraction. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Production of Non-Upholstered Seats With Wooden Frames in Panama

In value terms, wooden frame non-upholstered seat production rose remarkably to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when the production volume increased by 73%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Non-Upholstered Seats With Wooden Frames

Exports from Panama

In 2022, after two years of decline, there was significant growth in shipments abroad of non-upholstered seats with wooden frames, when their volume increased by 998% to X units. Overall, exports, however, faced a sharp descent. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, wooden frame non-upholstered seat exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a dramatic shrinkage. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Free Zones (X units) was the main destination for wooden frame non-upholstered seat exports from Panama, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones amounted to +15.3%.

In value terms, Free Zones ($X) also remains the key foreign market for non-upholstered seats with wooden frames exports from Panama.

From 2012 to 2022, the average annual growth rate of value to Free Zones amounted to +61.5%.

Export Prices by Country

In 2022, the average wooden frame non-upholstered seat export price amounted to $X per unit, surging by 35% against the previous year. In general, the export price posted a resilient expansion. The growth pace was the most rapid in 2018 when the average export price increased by 233% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Free Zones amounted to +40.0% per year.

Imports of Non-Upholstered Seats With Wooden Frames

Imports into Panama

In 2022, the amount of non-upholstered seats with wooden frames imported into Panama declined sharply to X units, reducing by -29.2% compared with the previous year's figure. In general, imports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 786%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, wooden frame non-upholstered seat imports declined remarkably to $X in 2022. Over the period under review, imports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2017 when imports increased by 796%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest wooden frame non-upholstered seat supplier to Panama, with a 32% share of total imports. Moreover, wooden frame non-upholstered seat imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was taken by Italy (X units), with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+31.4% per year) and Italy (+122.8% per year).

In value terms, China ($X) constituted the largest supplier of non-upholstered seats with wooden frames to Panama, comprising 32% of total imports. The second position in the ranking was held by the United States ($X), with an 11% share of total imports. It was followed by Italy, with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+36.1% per year) and Italy (+125.9% per year).

Import Prices by Country

In 2022, the average wooden frame non-upholstered seat import price amounted to $X per unit, remaining relatively unchanged against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wooden frame non-upholstered seat import price increased by +11.9% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 32%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Spain ($X per unit) and Colombia ($X per unit), while the price for Mexico ($X per unit) and Vietnam ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform