Panama: Radar Apparatus Market 2024

Radar Apparatus Market Size in Panama

The Panamanian radar apparatus market was estimated at $X in 2022, increasing by X% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Radar apparatus consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Radar Apparatus Production in Panama

In value terms, radar apparatus production rose notably to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Radar Apparatus Exports

Exports from Panama

In 2022, shipments abroad of radar apparatus, radio navigational aid apparatus and radio remote control apparatus decreased by X% to X units, falling for the sixth consecutive year after two years of growth. Over the period under review, exports recorded a precipitous shrinkage. The pace of growth appeared the most rapid in 2015 when exports increased by X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, radar apparatus exports totaled $X in 2022. Overall, exports saw a deep slump. The pace of growth was the most pronounced in 2016 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Venezuela (X units), Suriname (X units) and Trinidad and Tobago (X units) were the main destinations of radar apparatus exports from Panama, together comprising X% of total exports.

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

In value terms, the largest markets for radar apparatus exported from Panama were Venezuela ($X), the United States ($X) and Suriname ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Suriname, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average radar apparatus export price stood at $X per unit in 2022, approximately mirroring the previous year. Over the period under review, the export price saw a significant increase. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2020; however, from 2021 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 the United States ($X per unit), while the average price for exports to Trinidad and Tobago ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Radar Apparatus Imports

Imports into Panama

In 2022, supplies from abroad of radar apparatus, radio navigational aid apparatus and radio remote control apparatus increased by X% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, saw a abrupt slump. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, radar apparatus imports surged to $X in 2022. In general, imports, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of radar apparatus to Panama, accounting for a X% share of total imports. Moreover, radar apparatus imports from the United States exceeded the figures recorded by the second-largest supplier, Free Zones (X units), fourfold. The third position in this ranking was held by China (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (X% per year) and China (X% per year).

In value terms, the United States ($X) constituted the largest supplier of radar apparatus, radio navigational aid apparatus and radio remote control apparatus to Panama, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Free Zones, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Free Zones (X% per year).

Import Prices by Country

The average radar apparatus import price stood at $X per unit in 2022, falling by X% against the previous year. Overall, the import price, however, recorded resilient growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. The import price peaked at $X per unit in 2021, and then dropped rapidly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Free Zones ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform