Panama: Transport Container Market 2024

Transport Container Market Size in Panama

The Panamanian transport container market reduced remarkably to $X in 2022, which is down by -26.4% 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, however, posted significant growth. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Transport Container Exports

Exports from Panama

Transport container exports from Panama surged to X units in 2022, growing by 35% on the previous year's figure. Overall, exports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 197% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, transport container exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a drastic downturn. The growth pace was the most rapid in 2018 when exports increased by 274%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), Cyprus (X units) and Spain (X units) were the main destinations of transport container exports from Panama, together comprising 37% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +83.4%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Cyprus ($X) and Hungary ($X) constituted the largest markets for transport container exported from Panama worldwide, with a combined 36% share of total exports.

Among the main countries of destination, Spain, with a CAGR of +145.0%, saw the highest growth rate of 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 transport container export price stood at $X per unit in 2022, with a decrease of -11.5% against the previous year. Overall, the export price, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2014 an increase of 45% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to Germany ($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 Venezuela (+50.9%), while the prices for the other major destinations experienced more modest paces of growth.

Transport Container Imports

Imports into Panama

In 2022, the amount of transport containers imported into Panama plummeted to X units, which is down by -26.1% compared with 2021. In general, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 171% against the previous year. As a result, imports attained the peak of X units, and then dropped notably in the following year.

In value terms, transport container imports shrank significantly to $X in 2022. Over the period under review, imports, however, showed resilient growth. The growth pace was the most rapid in 2017 when imports increased by 195%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X units), the United States (X units) and Germany (X units) were the main suppliers of transport container imports to Panama, together accounting for 78% of total imports. South Africa, the Netherlands and Guatemala lagged somewhat behind, together accounting for a further 8.9%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Africa (with a CAGR of +103.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of transport containers to Panama, comprising 54% of total imports. The second position in the ranking was taken by the United States ($X), with an 18% share of total imports. It was followed by Germany, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+14.5% per year) and Germany (+43.0% per year).

Import Prices by Country

The average transport container import price stood at $X per unit in 2022, growing by 1.6% against the previous year. Overall, the import price, however, recorded a pronounced downturn. The growth pace was the most rapid in 2017 when the average import price increased by 73% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a lower figure.

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 South Africa ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+15.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform