Panama: Net Fabric Market 2025

Net Fabric Market Size in Panama

The Panamanian net fabric market expanded rapidly to $X in 2022, surging by 7.5% against the previous year. Overall, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.3% against 2020 indices. Net fabric consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Net Fabric Production in Panama

In value terms, net fabric production shrank slightly to $X in 2022 estimated in export price. In general, the total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.9% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 52% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Net Fabric Exports

Exports from Panama

In 2022, shipments abroad of tulles and other net fabrics decreased by -42.5% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 266% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank notably in the following year.

In value terms, net fabric exports shrank to $X in 2022. In general, exports saw a pronounced slump. The pace of growth was the most pronounced in 2019 when exports increased by 145%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guatemala (X tons) was the main destination for net fabric exports from Panama, accounting for a 32% share of total exports. Moreover, net fabric exports to Guatemala exceeded the volume sent to the second major destination, the United States (X tons), threefold. Ecuador (X tons) ranked third in terms of total exports with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Guatemala amounted to -2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+41.0% per year) and Ecuador (+28.7% per year).

In value terms, the largest markets for net fabric exported from Panama were the United States ($X), the Dominican Republic ($X) and Brazil ($X), together comprising 29% of total exports. Guatemala, Trinidad and Tobago, Ecuador, Paraguay, Colombia, Costa Rica, Guyana, Honduras, Jamaica and Haiti lagged somewhat behind, together accounting for a further 43%.

Among the main countries of destination, Trinidad and Tobago, with a CAGR of +58.3%, 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 2022, the average net fabric export price amounted to $X per ton, growing by 52% against the previous year. Over the period under review, the export price, however, showed a abrupt slump. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Jamaica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guyana (-5.5%), while the prices for the other major destinations experienced a decline.

Net Fabric Imports

Imports into Panama

In 2022, imports of tulles and other net fabrics into Panama soared to X tons, surging by 171% compared with the year before. In general, imports, however, faced a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of 8,100% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, net fabric imports surged to $X in 2022. Overall, imports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 7,643% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of net fabric to Panama, with a 90% share of total imports. Moreover, net fabric imports from South Korea exceeded the figures recorded by the second-largest supplier, Free Zones (X kg), more than tenfold. The third position in this ranking was taken by Mexico (X kg), with a 0.9% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea stood at +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (-8.8% per year) and Mexico (-34.5% per year).

In value terms, South Korea ($X) constituted the largest supplier of tulles and other net fabrics to Panama, comprising 65% of total imports. The second position in the ranking was taken by Free Zones ($X), with a 6.7% share of total imports. It was followed by Mexico, with a 5.7% share.

From 2012 to 2022, the average annual growth rate of value from South Korea stood at +25.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (-6.3% per year) and Mexico (-22.9% per year).

Import Prices by Country

The average net fabric import price stood at $X per ton in 2022, surging by 37% against the previous year. Over the period under review, the import price, however, showed a mild decrease. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 China ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+25.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform