Panama: Office Supply Market 2024

Office Supply Market Size in Panama

The Panamanian office supply market fell to $X in 2022, waning by -4.4% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Office Supply Production in Panama

In value terms, office supply production declined to $X in 2022 estimated in export price. Over the period under review, production recorded a mild downturn. The growth pace was the most rapid in 2018 with an increase of 30%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Office Supply Exports

Exports from Panama

In 2022, overseas shipments of office or school supplies of plastics were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, recorded a abrupt contraction. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, office supply exports surged to $X in 2022. Over the period under review, exports, however, faced a precipitous decline. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Free Zones (X tons) was the main destination for office supply exports from Panama, accounting for a 99.9% share of total exports. It was followed by Cuba (X kg), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones stood at +61.3%.

In value terms, Free Zones ($X) remains the key foreign market for office or school supplies of plastics exports from Panama, comprising 99.9% of total exports. The second position in the ranking was held by Cuba ($X), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Free Zones totaled +54.2%.

Export Prices by Country

In 2022, the average office supply export price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the export price, however, continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2017 an increase of 57% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Free Zones ($X per ton), while the average price for exports to Cuba amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Office Supply Imports

Imports into Panama

In 2022, supplies from abroad of office or school supplies of plastics was finally on the rise to reach X tons after three years of decline. Over the period under review, imports, however, recorded a abrupt descent. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, office supply imports expanded notably to $X in 2022. In general, imports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 39% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Free Zones (X tons) constituted the largest supplier of office supply to Panama, accounting for a 75% share of total imports. Moreover, office supply imports from Free Zones exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. The United States (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume from Free Zones amounted to +55.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-23.5% per year) and the United States (+10.4% per year).

In value terms, Free Zones ($X) constituted the largest supplier of office or school supplies of plastics to Panama, comprising 57% of total imports. The second position in the ranking was held by China ($X), with a 25% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Free Zones totaled +47.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-21.6% per year) and the United States (+2.0% per year).

Import Prices by Country

The average office supply import price stood at $X per ton in 2022, declining by -16.7% against the previous year. In general, the import price continues to indicate a noticeable reduction. The growth pace was the most rapid in 2017 when the average import price increased by 60%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Free Zones ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform