Panama: Umbrella And Walking-Stick Market 2024

Umbrella And Walking-Stick Market Size in Panama

After four years of decline, the Panamanian umbrella and walking-stick market increased by 36% to $X in 2022. Over the period under review, consumption, however, saw a abrupt downturn. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Umbrella And Walking-Stick Exports

Exports from Panama

In 2022, overseas shipments of umbrellas and walking-sticks were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a precipitous descent. The most prominent rate of growth was recorded in 2019 with an increase of 23% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, umbrella and walking-stick exports shrank to $X in 2022. Over the period under review, exports, however, recorded a precipitous slump. The growth pace was the most rapid in 2019 when exports increased by 5.3%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Nicaragua (X units) was the main destination for umbrella and walking-stick exports from Panama, accounting for a 42% share of total exports. Moreover, umbrella and walking-stick exports to Nicaragua exceeded the volume sent to the second major destination, Uruguay (X units), threefold. Colombia (X units) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Nicaragua totaled -4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (+11.1% per year) and Colombia (-46.6% per year).

In value terms, Nicaragua ($X) remains the key foreign market for umbrellas and walking-sticks exports from Panama, comprising 33% of total exports. The second position in the ranking was held by Suriname ($X), with a 12% share of total exports. It was followed by Uruguay, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value to Nicaragua totaled -13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Suriname (+5.9% per year) and Uruguay (-5.8% per year).

Export Prices by Country

In 2022, the average umbrella and walking-stick export price amounted to $X per unit, declining by -18% against the previous year. Over the period under review, the export price saw a slight curtailment. The most prominent rate of growth was recorded in 2017 an increase of 55%. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Suriname ($X per unit), while the average price for exports to Uruguay ($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 Suriname (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Umbrella And Walking-Stick Imports

Imports into Panama

In 2022, supplies from abroad of umbrellas and walking-sticks was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 111% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, umbrella and walking-stick imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 110%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Free Zones (X units) and Colombia (X units) were the main suppliers of umbrella and walking-stick imports to Panama, with a combined 86% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Free Zones (with a CAGR of +45.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Free Zones ($X) and Colombia ($X) were the largest umbrella and walking-stick suppliers to Panama, together comprising 85% of total imports.

In terms of the main suppliers, Free Zones, with a CAGR of +43.7%, recorded 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 2022, the average umbrella and walking-stick import price amounted to $X per unit, with a decrease of -18.5% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 38%. As a result, import price reached the peak level of $X per unit, and then declined notably in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per unit) and China ($X per unit), while the price for Hong Kong SAR ($X per unit) and Colombia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform