Panama: Plastic Packaging Market 2024

Plastic Packaging Market Size in Panama

The Panamanian plastic packaging market rose to $X in 2022, increasing by X% against the previous year. Overall, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Plastic Packaging Production in Panama

In value terms, plastic packaging production rose notably to $X in 2022 estimated in export price. In general, production, however, recorded a slight shrinkage. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Plastic Packaging Exports

Exports from Panama

In 2022, overseas shipments of plastic packaging were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, plastic packaging exports stood at $X in 2022. Over the period under review, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Costa Rica (X tons), Canada (X tons) and the United States (X tons) were the main destinations of plastic packaging exports from Panama, with a combined X% share of total exports. Free Zones, Mexico, Curacao and Nicaragua lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Free Zones (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Costa Rica ($X), Canada ($X) and the United States ($X) were the largest markets for plastic packaging exported from Panama worldwide, with a combined X% share of total exports.

Among the main countries of destination, Canada, with a CAGR of X%, recorded 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

The average plastic packaging export price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Free Zones ($X per ton), while the average price for exports to Costa Rica ($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 Canada (X%), while the prices for the other major destinations experienced a decline.

Plastic Packaging Imports

Imports into Panama

In 2022, the amount of plastic packaging imported into Panama contracted to X tons, reducing by X% compared with the previous year's figure. In general, imports, however, recorded significant growth. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, plastic packaging imports reached $X in 2022. Overall, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Costa Rica (X tons), China (X tons) and the United States (X tons) were the main suppliers of plastic packaging imports to Panama, with a combined X% share of total imports. El Salvador, Peru, Guatemala and Mexico lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for El Salvador (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic packaging suppliers to Panama were Costa Rica ($X), China ($X) and the United States ($X), together accounting for X% of total imports. Guatemala, Mexico, El Salvador and Peru lagged somewhat behind, together comprising a further X%.

Among the main suppliers, El Salvador, with a CAGR of X%, 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 more modest paces of growth.

Import Prices by Country

The average plastic packaging import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price, however, saw a perceptible descent. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform