Panama: Swivel Seat Market 2024

Swivel Seat Market Size in Panama

The Panamanian swivel seat market dropped significantly to $X in 2022, which is down by -26.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a abrupt downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Swivel Seat Exports

Exports from Panama

In 2022, shipments abroad of swivel seats with variable height adjustments decreased by -8.3% to X units for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, enjoyed a noticeable increase. The growth pace was the most rapid in 2019 with an increase of 104% against the previous year. Over the period under review, the exports attained the maximum at X units in 2021, and then dropped in the following year.

In value terms, swivel seat exports contracted to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 23%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Guatemala (X units), Guyana (X units) and Jamaica (X units) were the main destinations of swivel seat exports from Panama, together comprising 35% of total exports. Honduras, Nicaragua, the United States, Peru, Ecuador, Chile, Mexico, the Dominican Republic, El Salvador and Venezuela lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +74.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for swivel seat exported from Panama were Guatemala ($X), Guyana ($X) and the United States ($X), together accounting for 31% of total exports. Jamaica, Honduras, Nicaragua, Peru, Ecuador, Chile, the Dominican Republic, Mexico, El Salvador and Venezuela lagged somewhat behind, together comprising a further 40%.

Mexico, with a CAGR of +53.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average swivel seat export price stood at $X per unit in 2022, increasing by 3.5% against the previous year. Overall, the export price, however, continues to indicate a noticeable decline. The pace of growth appeared the most rapid in 2017 when the average export price increased by 64%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per unit) and the Dominican Republic ($X per unit), while the average price for exports to Nicaragua ($X per unit) and Guyana ($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 the United States (+1.0%), while the prices for the other major destinations experienced mixed trend patterns.

Swivel Seat Imports

Imports into Panama

In 2022, the amount of swivel seats with variable height adjustments imported into Panama shrank remarkably to X units, waning by -23.7% against 2021. Overall, imports recorded a abrupt descent. The pace of growth was the most pronounced in 2021 when imports increased by 90% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, swivel seat imports fell dramatically to $X in 2022. Over the period under review, imports continue to indicate a noticeable slump. The growth pace was the most rapid in 2021 with an increase of 108%. Over the period under review, imports reached the maximum 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 supplier of swivel seat to Panama, with a 96% share of total imports. It was followed by the United States (X units), with a 1.4% share of total imports. South Korea (X units) ranked third in terms of total imports with a 0.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.4% per year) and South Korea (-11.4% per year).

In value terms, China ($X) constituted the largest supplier of swivel seats with variable height adjustments to Panama, comprising 87% of total imports. The second position in the ranking was taken by the United States ($X), with a 4.4% share of total imports. It was followed by South Korea, with a 1% share.

From 2012 to 2022, the average annual growth rate of value from China stood at -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.6% per year) and South Korea (-13.3% per year).

Import Prices by Country

In 2022, the average swivel seat import price amounted to $X per unit, reducing by -3% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 40%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform