Panama: Hand Stamp Market 2024

Hand Stamp Market Size in Panama

The Panamanian hand stamp market skyrocketed to $X in 2022, increasing by 33% against the previous year. Over the period under review, consumption continues to indicate tangible growth. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Hand Stamp Production in Panama

In value terms, hand stamp production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2020 with an increase of 1,955%. Hand stamp production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Hand Stamp Exports

Exports from Panama

In 2022, exports of stamps for use in the hand from Panama reduced to X units, with a decrease of -11.3% compared with the previous year's figure. In general, exports saw a significant curtailment. The pace of growth appeared the most rapid in 2019 when exports increased by 32% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, hand stamp exports dropped notably to $X in 2022. Overall, exports recorded a sharp shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by 108% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X units), Colombia (X units) and the United States (X units) were the main destinations of hand stamp exports from Panama, with a combined 46% share of total exports. Costa Rica, Guatemala, Trinidad and Tobago, El Salvador, the Dominican Republic, Nicaragua and Honduras lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Trinidad and Tobago (with a CAGR of -12.8%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for hand stamp exported from Panama were Venezuela ($X), Colombia ($X) and the United States ($X), together comprising 45% of total exports. Costa Rica, Guatemala, the Dominican Republic, Trinidad and Tobago, El Salvador, Nicaragua and Honduras lagged somewhat behind, together comprising a further 34%.

Trinidad and Tobago, with a CAGR of -5.0%, 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 hand stamp export price amounted to $X per unit, with a decrease of -16.5% against the previous year. In general, the export price, however, showed tangible growth. The pace of growth was the most pronounced in 2017 an increase of 68% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Guatemala ($X per unit) and Nicaragua ($X per unit), while the average price for exports to El Salvador ($X per unit) and Venezuela ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Stamp Imports

Imports into Panama

After two years of decline, supplies from abroad of stamps for use in the hand increased by 32% to X units in 2022. In general, imports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 91% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, hand stamp imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2017 with an increase of 238% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of hand stamp to Panama, accounting for a 57% share of total imports. Moreover, hand stamp imports from China exceeded the figures recorded by the second-largest supplier, Free Zones (X units), fourfold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+48.5% per year) and Taiwan (Chinese) (+9.5% per year).

In value terms, China ($X), Taiwan (Chinese) ($X) and Free Zones ($X) appeared to be the largest hand stamp suppliers to Panama, together accounting for 58% of total imports.

Among the main suppliers, Free Zones, with a CAGR of +33.7%, 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 hand stamp import price stood at $X per unit in 2022, falling by -5.5% against the previous year. Overall, the import price, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 77%. Over the period under review, average import prices reached the peak figure at $X per unit 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 Vietnam ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+24.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform