Panama: Raw Silk Market 2025

Raw Silk Market Size in Panama

The Panamanian raw silk market stood at $X in 2022, with an increase of 1.9% against the previous year. Overall, consumption, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 when the market value increased by 5.3%. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Raw Silk Production in Panama

In value terms, raw silk production expanded slightly to $X in 2022 estimated in export price. In general, production, however, recorded a slight decrease. The pace of growth was the most pronounced in 2019 with an increase of 10%. Raw silk production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

The average yield of raw silk in Panama amounted to less than X kg per ha in 2022, leveling off at 2021. Overall, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The raw silk harvested area in Panama totaled less than X ha in 2022, remaining stable against the year before. Over the period under review, the harvested area recorded a relatively flat trend pattern.

Raw Silk Exports

Exports from Panama

Raw silk exports from Panama stood at X kg in 2021, flattening at 2020. Overall, exports continue to indicate a deep reduction. The smallest decline of 99.9% was in 2015. The exports peaked at X kg in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, raw silk exports totaled $X in 2021. Over the period under review, exports recorded a abrupt contraction. The growth pace was the most rapid in 2014 when exports increased by 29% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Guatemala (X kg) was the main destination for raw silk exports from Panama, with a approx. 100% share of total exports.

From 2014 to 2021, the average annual growth rate of volume to Guatemala was relatively modest.

From 2014 to 2021, the average annual rate of growth in terms of value to Guatemala was relatively modest.

Export Prices by Country

The average raw silk export price stood at $X per ton in 2021, almost unchanged from the previous year. In general, the export price saw slight growth. The most prominent rate of growth was recorded in 2015 when the average export price decreased by 99.9% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Guatemala.

From 2014 to 2021, the rate of growth in terms of prices for Guatemala amounted to 0.0% per year.

Raw Silk Imports

Imports into Panama

In 2022, overseas purchases of raw silk were finally on the rise to reach X kg after seven years of decline. In general, imports, however, recorded a precipitous shrinkage. The growth pace was the most rapid in 2014 when imports increased by 18% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, raw silk imports contracted slightly to $X in 2022. Over the period under review, imports, however, showed a perceptible curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 14% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X kg) was the main raw silk supplier to Panama, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to -25.3%.

In value terms, the United States ($X) constituted the largest supplier of raw silk to Panama.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to -3.8%.

Import Prices by Country

In 2022, the average raw silk import price amounted to $X per ton, dropping by -8.3% against the previous year. Over the period under review, the import price, however, enjoyed a significant expansion. The growth pace was the most rapid in 2019 when the average import price increased by 116% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then fell in the following year.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +28.8% per year.

Source: IndexBox Platform