Panama: Prisms And Mirrors Market 2025

Prisms And Mirrors Market Size in Panama

The Panamanian prisms and mirrors market declined to $X in 2022, almost unchanged from the previous year. In general, consumption, however, enjoyed a remarkable increase. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Prisms And Mirrors Production in Panama

In value terms, prisms and mirrors production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a significant expansion. The growth pace was the most rapid in 2013 with an increase of 434%. Prisms and mirrors production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Prisms And Mirrors Exports

Exports from Panama

After two years of growth, shipments abroad of prisms and mirrors decreased by -39.9% to X kg in 2022. Overall, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 312% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, prisms and mirrors exports contracted rapidly to $X in 2022. Over the period under review, exports faced a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 343%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Guatemala (X kg), Colombia (X kg) and Cuba (X kg) were the main destinations of prisms and mirrors exports from Panama, together comprising 60% of total exports.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of +35.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X) remains the key foreign market for prisms and mirrors exports from Panama, comprising 42% of total exports. The second position in the ranking was taken by Cuba ($X), with a 17% share of total exports. It was followed by Colombia, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Guatemala totaled +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (+13.8% per year) and Colombia (+29.6% per year).

Export Prices by Country

In 2022, the average prisms and mirrors export price amounted to $X per ton, with an increase of 2% against the previous year. In general, the export price showed a moderate increase. The pace of growth was the most pronounced in 2018 an increase of 184%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Nicaragua ($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 Guatemala (+7.8%), while the prices for the other major destinations experienced mixed trend patterns.

Prisms And Mirrors Imports

Imports into Panama

In 2022, approx. X tons of prisms and mirrors were imported into Panama; growing by 5.1% against the previous year's figure. Over the period under review, imports, however, recorded a mild reduction. The pace of growth was the most pronounced in 2016 with an increase of 955%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, prisms and mirrors imports fell slightly to $X in 2022. Overall, imports saw prominent growth. The most prominent rate of growth was recorded in 2016 when imports increased by 483% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of prisms and mirrors to Panama, with a 49% share of total imports. Moreover, prisms and mirrors imports from the United States exceeded the figures recorded by the second-largest supplier, Free Zones (X tons), twofold. The third position in this ranking was held by Mexico (X tons), with a 22% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +61.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+13.4% per year) and Mexico (+84.1% per year).

In value terms, the United States ($X) constituted the largest supplier of prisms and mirrors to Panama, comprising 83% of total imports. The second position in the ranking was held by Mexico ($X), with an 8.6% share of total imports. It was followed by Free Zones, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +60.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+86.5% per year) and Free Zones (+17.0% per year).

Import Prices by Country

In 2022, the average prisms and mirrors import price amounted to $X per ton, shrinking by -5% against the previous year. Overall, the import price, however, saw a strong increase. The pace of growth appeared the most rapid in 2017 an increase of 215% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+23.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform