Panama: Telephone Apparatus Market 2024

Telephone Apparatus Market Size in Panama

The Panamanian telephone apparatus market was finally on the rise to reach $X in 2022, after three years of decline. Overall, consumption continues to indicate a perceptible expansion. Telephone apparatus consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Telephone Apparatus Production in Panama

In value terms, telephone apparatus production skyrocketed to $X in 2022 estimated in export price. In general, production, however, saw a mild curtailment. The pace of growth was the most pronounced in 2014 with an increase of 55% against the previous year. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Telephone Apparatus Exports

Exports from Panama

Telephone apparatus exports from Panama surged to X tons in 2022, jumping by 43% against 2021. In general, exports saw resilient growth. The most prominent rate of growth was recorded in 2020 when exports increased by 153% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, telephone apparatus exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 138%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Costa Rica (X tons) was the main destination for telephone apparatus exports from Panama, with a 22% share of total exports. Moreover, telephone apparatus exports to Costa Rica exceeded the volume sent to the second major destination, Guatemala (X tons), threefold. The third position in this ranking was held by Peru (X tons), with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume to Costa Rica amounted to +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-13.1% per year) and Peru (+17.0% per year).

In value terms, Costa Rica ($X), Peru ($X) and Chile ($X) constituted the largest markets for telephone apparatus exported from Panama worldwide.

Bolivia, with a CAGR of +70.1%, 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

In 2021, the average telephone apparatus export price amounted to $X per ton, declining by -70.6% against the previous year. Overall, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2016 an increase of 182%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+48.5%), while the prices for the other major destinations experienced more modest paces of growth.

Telephone Apparatus Imports

Imports into Panama

In 2022, supplies from abroad of telephone apparatus was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports posted a buoyant increase. The growth pace was the most rapid in 2017 when imports increased by 122% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, telephone apparatus imports expanded remarkably to $X in 2022. Overall, imports recorded a remarkable increase. The pace of growth was the most pronounced in 2016 when imports increased by 61%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Free Zones (X tons) and the United States (X tons) were the main suppliers of telephone apparatus imports to Panama, together comprising 56% of total imports.

From 2012 to 2021, the biggest increases were recorded for Free Zones (with a CAGR of +22.1%), while purchases for the other leaders experienced mixed trend patterns.

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

Among the main suppliers, Free Zones, with a CAGR of +20.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average telephone apparatus import price amounted to $X per ton, which is down by -22.8% against the previous year. Over the period under review, the import price continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2020 an increase of 44%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform