Panama: Sealed Beam Market 2024

Sealed Beam Market Size in Panama

The Panamanian sealed beam market dropped rapidly to $X in 2022, with a decrease of -16.3% against the previous year. Over the period under review, consumption recorded a abrupt slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Sealed Beam Production in Panama

In value terms, sealed beam production stood at $X in 2022 estimated in export price. In general, production saw significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 1,023%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Sealed Beam Exports

Exports from Panama

In 2022, overseas shipments of sealed beam lamp units increased by 73% to X units for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports, however, saw a deep contraction. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, sealed beam exports stood at $X in 2022. In general, exports, however, faced a deep slump. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Venezuela (X units), Colombia (X units) and Nicaragua (X units) were the main destinations of sealed beam exports from Panama, with a combined 62% share 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 Nicaragua (with a CAGR of +4.8%), while the other leaders experienced a decline.

In value terms, the largest markets for sealed beam exported from Panama were Venezuela ($X), Nicaragua ($X) and Honduras ($X), together comprising 57% of total exports.

Nicaragua, with a CAGR of +10.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average sealed beam export price amounted to $X per unit, dropping by -39.9% against the previous year. Over the period under review, the export price, however, enjoyed a noticeable increase. The pace of growth appeared the most rapid in 2021 an increase of 131%. As a result, the export price reached the peak level of $X per unit, and then reduced dramatically in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to the Dominican Republic ($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 Nicaragua (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Sealed Beam Imports

Imports into Panama

In 2022, purchases abroad of sealed beam lamp units was finally on the rise to reach X units after two years of decline. Overall, imports, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of 60% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, sealed beam imports dropped to $X in 2022. Over the period under review, imports, however, saw a dramatic setback. The pace of growth appeared the most rapid in 2017 with an increase of 31% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main sealed beam supplier to Panama, accounting for a 91% share of total imports. Moreover, sealed beam imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. Free Zones (X units) ranked third in terms of total imports with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.8% per year) and Free Zones (-8.5% per year).

In value terms, China ($X) constituted the largest supplier of sealed beam lamp units to Panama, comprising 87% of total imports. The second position in the ranking was held by Free Zones ($X), with a 5.9% share of total imports. It was followed by the United States, with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (-2.8% per year) and the United States (-10.6% per year).

Import Prices by Country

In 2022, the average sealed beam import price amounted to $X per unit, declining by -3.2% against the previous year. Overall, the import price saw a noticeable setback. The growth pace was the most rapid in 2015 an increase of 33% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+6.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform