Panama: Telephonic Switching Apparatus Market 2024

Telephonic Switching Apparatus Market Size in Panama

The Panamanian telephonic switching apparatus market rose notably to $X in 2022, picking up by 15% against the previous year. In general, consumption recorded a strong expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Telephonic Switching Apparatus Production in Panama

In value terms, telephonic switching apparatus production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production posted resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 81% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Telephonic Switching Apparatus Exports

Exports from Panama

Telephonic switching apparatus exports from Panama skyrocketed to X units in 2022, growing by 23% compared with the previous year. In general, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 166% against the previous year. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, telephonic switching apparatus exports surged to $X in 2022. Over the period under review, exports showed significant growth. The pace of growth was the most pronounced in 2015 with an increase of 397% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Costa Rica (X units) was the main destination for telephonic switching apparatus exports from Panama, with a 18% share of total exports. Moreover, telephonic switching apparatus exports to Costa Rica exceeded the volume sent to the second major destination, Peru (X units), threefold. The third position in this ranking was held by Chile (X units), with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Costa Rica stood at +72.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+31.0% per year) and Chile (+53.3% per year).

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

Among the main countries of destination, Mexico, with a CAGR of +106.9%, recorded 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

In 2021, the average telephonic switching apparatus export price amounted to $X per unit, falling by -69.2% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 178% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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 Guatemala ($X per unit), while the average price for exports to Costa Rica ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+39.0%), while the prices for the other major destinations experienced more modest paces of growth.

Telephonic Switching Apparatus Imports

Imports into Panama

After two years of decline, supplies from abroad of telephonic or telegraphic switching apparatus increased by 2.3% to X units in 2022. Over the period under review, imports showed a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 456% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, telephonic switching apparatus imports reduced to $X in 2022. Overall, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 770% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X units), China (X units) and Free Zones (X units) were the main suppliers of telephonic switching apparatus imports to Panama, together comprising 35% of total imports. Hong Kong SAR, Sweden, Mexico and Chile lagged somewhat behind, together accounting for a further 6.7%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +37.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Free Zones ($X) were the largest telephonic switching apparatus suppliers to Panama, with a combined 74% share of total imports. Sweden, Hong Kong SAR, Mexico and Chile lagged somewhat behind, together accounting for a further 16%.

Hong Kong SAR, with a CAGR of +39.3%, recorded the highest growth rate of the value of imports, among the main suppliers 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 telephonic switching apparatus import price amounted to $X per unit, shrinking by -44.2% against the previous year. Overall, the import price, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2015 an increase of 149%. The import price peaked at $X per unit in 2020, and then fell rapidly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform