Panama: Plaits And Basketwork Market 2025

Plaits And Basketwork Market Size in Panama

In 2022, the Panamanian plaits and basketwork market increased by 2.4% to $X, rising for the second consecutive year after three years of decline. Overall, consumption continues to indicate a modest increase. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Plaits And Basketwork Production in Panama

In value terms, plaits and basketwork production dropped slightly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 22%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Plaits And Basketwork Exports

Exports from Panama

After three years of growth, overseas shipments of plaits, basketwork, wickerwork and similar products of plaiting materials decreased by -6.1% to X tons in 2022. Overall, exports saw a deep downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 45%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, plaits and basketwork exports declined to $X in 2022. In general, exports saw a abrupt setback. The growth pace was the most rapid in 2019 with an increase of 23% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Trinidad and Tobago (X tons), Curacao (X tons) and El Salvador (X tons) were the main destinations of plaits and basketwork exports from Panama, with a combined 35% share of total exports. Costa Rica, Venezuela, Colombia, Aruba, the Dominican Republic, Guyana, Bonaire, Peru, Mexico and Uruguay lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Bonaire (with a CAGR of +76.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plaits and basketwork exported from Panama were Trinidad and Tobago ($X), Curacao ($X) and El Salvador ($X), together accounting for 34% of total exports. Aruba, Costa Rica, the Dominican Republic, Colombia, Guyana, Uruguay, Bonaire, Mexico, Venezuela and Peru lagged somewhat behind, together accounting for a further 38%.

In terms of the main countries of destination, Bonaire, with a CAGR of +53.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average plaits and basketwork export price amounted to $X per ton, reducing by -1.6% against the previous year. Overall, the export price recorded a abrupt descent. The growth pace was the most rapid in 2017 when the average export price increased by 21%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average 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 Uruguay ($X per ton), while the average price for exports to Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (-0.5%), while the prices for the other major destinations experienced a decline.

Plaits And Basketwork Imports

Imports into Panama

Plaits and basketwork imports into Panama skyrocketed to X tons in 2022, surging by 29% against the year before. Overall, imports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 45% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, plaits and basketwork imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2019 when imports increased by 50%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Colombia (X tons) and Free Zones (X tons) were the main suppliers of plaits and basketwork imports to Panama, with a combined 90% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Free Zones (with a CAGR of +52.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Colombia ($X) and the United States ($X) constituted the largest plaits and basketwork suppliers to Panama, together comprising 83% of total imports. Free Zones, Vietnam and India lagged somewhat behind, together accounting for a further 6.4%.

Free Zones, with a CAGR of +59.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average plaits and basketwork import price stood at $X per ton in 2022, rising by 9.5% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 41%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform