Panama: Photo-Copying Apparatus Market 2024

Photo-Copying Apparatus Market Size in Panama

In 2022, the Panamanian photo-copying apparatus market increased by 0.8% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, faced a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Photo-Copying Apparatus Production in Panama

In value terms, photo-copying apparatus production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 9.8% against the previous year. Photo-copying apparatus production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Photo-Copying Apparatus Exports

Exports from Panama

In 2022, overseas shipments of photo-copying apparatus increased by 74% to X units for the first time since 2015, thus ending a six-year declining trend. Overall, exports, however, saw a sharp descent. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, photo-copying apparatus exports surged to $X in 2022. In general, exports, however, continue to indicate a precipitous setback. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Mexico (X units) and Colombia (X units) were the main destinations of photo-copying apparatus exports from Panama, with a combined 57% share of total exports. Brazil, the Dominican Republic, Barbados, El Salvador, Costa Rica, Uruguay, Guatemala, Peru, Trinidad and Tobago and Honduras lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the biggest increases were recorded for Barbados (with a CAGR of +4.8%), while shipments for the other leaders experienced a decline.

In value terms, the United States ($X), Mexico ($X) and Colombia ($X) appeared to be the largest markets for photo-copying apparatus exported from Panama worldwide, together comprising 57% of total exports. Brazil, the Dominican Republic, Barbados, El Salvador, Costa Rica, Uruguay, Guatemala, Peru, Trinidad and Tobago and Honduras lagged somewhat behind, together comprising a further 38%.

Barbados, with a CAGR of +6.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average photo-copying apparatus export price stood at $X per unit in 2022, falling by -13% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 44%. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Peru ($X per unit) and Uruguay ($X per unit), while the average price for exports to Honduras ($X per unit) and Trinidad and Tobago ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+1.3%), while the prices for the other major destinations experienced more modest paces of growth.

Photo-Copying Apparatus Imports

Imports into Panama

In 2022, after four years of decline, there was significant growth in overseas purchases of photo-copying apparatus, when their volume increased by 45% to X units. In general, imports, however, recorded a dramatic decline. The growth pace was the most rapid in 2015 when imports increased by 796%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, photo-copying apparatus imports soared to $X in 2022. Overall, imports, however, continue to indicate a dramatic setback. The pace of growth appeared the most rapid in 2015 with an increase of 639% 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 units) constituted the largest photo-copying apparatus supplier to Panama, with a 41% share of total imports. Moreover, photo-copying apparatus imports from Free Zones exceeded the figures recorded by the second-largest supplier, South Korea (X units), threefold. The United States (X units) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Free Zones stood at +59.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+4.6% per year) and the United States (-37.0% per year).

In value terms, Free Zones ($X), the United States ($X) and China ($X) constituted the largest photo-copying apparatus suppliers to Panama, together accounting for 77% of total imports.

Among the main suppliers, Free Zones, with a CAGR of +45.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average photo-copying apparatus import price stood at $X per unit in 2022, growing by 9% against the previous year. Over the period under review, the import price, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2018 an increase of 26%. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 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 the United States ($X per unit), while the price for Hong Kong SAR ($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 Philippines (+38.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform