Panama: Printing Components Market 2024

Printing Components Market Size in Panama

The Panamanian printing components market declined to $X in 2022, dropping by -10.2% against the previous year. In general, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +12.0% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Printing Components Production in Panama

In value terms, printing components production dropped to $X in 2022 estimated in export price. Over the period under review, the total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +15.6% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 54%. Printing components production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Printing Components Exports

Exports from Panama

Printing components exports from Panama skyrocketed to X kg in 2022, with an increase of 20% on the previous year's figure. In general, exports, however, continue to indicate a precipitous slump. The most prominent rate of growth was recorded in 2015 when exports increased by 297%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, printing components exports skyrocketed to $X in 2022. Overall, exports, however, showed a precipitous setback. The pace of growth was the most pronounced in 2015 with an increase of 310%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X kg), Nicaragua (X kg) and the Dominican Republic (X kg) were the main destinations of printing components exports from Panama, with a combined 89% share of total exports. Moreover, printing components exports in Venezuela exceeded the figures recorded by the second-largest exporter, Nicaragua, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Venezuela (with a CAGR of -21.2%), while the other leaders experienced a decline.

In value terms, Nicaragua ($X) remains the key foreign market for printing components exports from Panama, comprising 41% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with a 15% share of total exports. It was followed by Guatemala, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Nicaragua stood at -22.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (-33.6% per year) and Guatemala (-21.0% per year).

Export Prices by Country

In 2022, the average printing components export price amounted to $X per ton, rising by 12% against the previous year. Over the period under review, the export price continues to indicate a slight expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by 60% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat 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 Costa Rica ($X per ton), while the average price for exports to Venezuela ($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 (+32.7%), while the prices for the other major destinations experienced more modest paces of growth.

Printing Components Imports

Imports into Panama

For the fifth year in a row, Panama recorded decline in supplies from abroad of printing components, which decreased by -13.2% to X tons in 2022. Over the period under review, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 1,565% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, printing components imports dropped rapidly to $X in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 1,707% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of printing components to Panama, with a 45% share of total imports. Moreover, printing components imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by Brazil (X tons), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-17.0% per year) and Brazil (+17.5% per year).

In value terms, the United States ($X), China ($X) and Free Zones ($X) appeared to be the largest printing components suppliers to Panama, together comprising 72% of total imports. Brazil, Germany, Italy, Belgium and Japan lagged somewhat behind, together comprising a further 18%.

Germany, with a CAGR of +60.6%, saw the highest rates of growth with regard to the value of imports, in terms of 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 printing components import price stood at $X per ton in 2022, which is down by -13.9% against the previous year. In general, the import price, however, continues to indicate prominent growth. The growth pace was the most rapid in 2020 an increase of 80%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then contracted in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+19.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform