Panama: Market for Shawls, Scarves And The Like Of Knitted Or Crocheted Textiles 2025

Market Size for Shawls, Scarves And The Like Of Knitted Or Crocheted Textiles in Panama

The Panamanian knitted shawl and scarf market shrank slightly to $X in 2022, reducing by -2.9% against the previous year. Overall, consumption, however, posted a strong increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Shawls, Scarves And The Like Of Knitted Or Crocheted Textiles in Panama

In value terms, knitted shawl and scarf production fell modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed prominent growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 108%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Shawls, Scarves And The Like Of Knitted Or Crocheted Textiles

Exports from Panama

In 2022, overseas shipments of shawls, scarves and the like of knitted or crocheted textiles increased by 2.3% to X units for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, faced a dramatic setback. The pace of growth was the most pronounced in 2014 when exports increased by 66%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, knitted shawl and scarf exports contracted to $X in 2022. Over the period under review, exports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 57% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Aruba (X units) was the main destination for knitted shawl and scarf exports from Panama, with a 34% share of total exports. Moreover, knitted shawl and scarf exports to Aruba exceeded the volume sent to the second major destination, Colombia (X units), threefold. The third position in this ranking was held by Venezuela (X units), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Aruba stood at +15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-26.1% per year) and Venezuela (-27.7% per year).

In value terms, Venezuela ($X), Colombia ($X) and the United States ($X) were the largest markets for knitted shawl and scarf exported from Panama worldwide, together comprising 46% of total exports. Spain, Cuba, Aruba, Costa Rica, Honduras, Mexico, Guatemala, El Salvador and Ecuador lagged somewhat behind, together accounting for a further 15%.

In terms of the main countries of destination, Cuba, with a CAGR of +40.8%, 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 more modest paces of growth.

Export Prices by Country

The average knitted shawl and scarf export price stood at $X per unit in 2022, declining by -9.1% against the previous year. Over the period under review, the export price, however, recorded significant growth. The growth pace was the most rapid in 2021 an increase of 212% against the previous year. As a result, the export price attained the peak level of $X per unit, and then fell in the following year.

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 Venezuela ($X per unit), while the average price for exports to Aruba ($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 Costa Rica (+38.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Shawls, Scarves And The Like Of Knitted Or Crocheted Textiles

Imports into Panama

Knitted shawl and scarf imports into Panama soared to X units in 2022, picking up by 50% compared with 2021 figures. Overall, imports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2018 when imports increased by 87%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, knitted shawl and scarf imports surged to $X in 2022. In general, imports, however, faced a abrupt slump. The most prominent rate of growth was recorded in 2018 when imports increased by 72% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of knitted shawl and scarf to Panama, with a 53% share of total imports. Moreover, knitted shawl and scarf imports from the United States exceeded the figures recorded by the second-largest supplier, Free Zones (X units), threefold. Italy (X units) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at -14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+60.8% per year) and Italy (+6.1% per year).

In value terms, Free Zones ($X), the United States ($X) and China ($X) were the largest knitted shawl and scarf suppliers to Panama, with a combined 82% share of total imports.

Among the main suppliers, Free Zones, with a CAGR of +75.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average knitted shawl and scarf import price stood at $X per unit in 2022, waning by -18.8% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 22%. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then shrank markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Free Zones ($X per unit), while the price for the United States ($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 (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform