Panama: Photo Camera Market 2024

Photo Camera Market Size in Panama

The Panamanian photo camera market fell remarkably to $X in 2022, dropping by -19.4% 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 abrupt setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Photo Camera Exports

Exports from Panama

In 2022, the amount of photographic (other than cinematographic) cameras exported from Panama amounted to X units, surging by 6.4% on the previous year. Over the period under review, exports, however, continue to indicate a deep setback. The growth pace was the most rapid in 2020 with an increase of 30%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, photo camera exports expanded significantly to $X in 2022. In general, exports, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of 97%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for photo camera exports from Panama, accounting for a 43% share of total exports. Moreover, photo camera exports to the United States exceeded the volume sent to the second major destination, Venezuela (X units), threefold. Guyana (X units) ranked third in terms of total exports with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to -1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-9.0% per year) and Guyana (+9.8% per year).

In value terms, Venezuela ($X) remains the key foreign market for photographic (other than cinematographic) cameras exports from Panama, comprising 37% of total exports. The second position in the ranking was held by the United States ($X), with a 16% share of total exports. It was followed by Colombia, with a 16% share.

From 2012 to 2022, the average annual growth rate of value to Venezuela totaled -12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-21.8% per year) and Colombia (-20.8% per year).

Export Prices by Country

In 2022, the average photo camera export price amounted to $X per unit, picking up by 5% against the previous year. In general, the export price, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the average export price increased by 69%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per unit), while the average price for exports to Guyana ($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 (+0.9%), while the prices for the other major destinations experienced a decline.

Photo Camera Imports

Imports into Panama

In 2022, imports of photographic (other than cinematographic) cameras into Panama dropped dramatically to X units, with a decrease of -18.3% compared with the previous year. Overall, imports recorded a abrupt setback. The pace of growth was the most pronounced in 2017 with an increase of 180%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, photo camera imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a deep slump. The growth pace was the most rapid in 2014 when imports increased by 88% 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

The United States (X units), Mexico (X units) and Free Zones (X units) were the main suppliers of photo camera imports to Panama, with a combined 90% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Free Zones (with a CAGR of +47.0%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), Free Zones ($X) and Mexico ($X) were the largest photo camera suppliers to Panama, together accounting for 70% of total imports.

Free Zones, with a CAGR of +37.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average photo camera import price stood at $X per unit in 2022, picking up by 77% against the previous year. Overall, the import price, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2014 an increase of 103%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a 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 China ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+46.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform