Report Panama - Unmanufactured Tobacco - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Jun 1, 2025

Panama - Unmanufactured Tobacco - Market Analysis, Forecast, Size, Trends and Insights

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Panama: Unmanufactured Tobacco Market 2025

Unmanufactured Tobacco Market Size in Panama

The Panamanian unmanufactured tobacco market fell to $X in 2022, which is down by -5.2% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Unmanufactured tobacco consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Unmanufactured Tobacco Production in Panama

In value terms, unmanufactured tobacco production contracted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2015 with an increase of 258% against the previous year. Unmanufactured tobacco production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

In 2022, the average unmanufactured tobacco yield in Panama contracted modestly to X tons per ha, therefore, remained relatively stable against 2021. Overall, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the yield increased by 1%. Over the period under review, the average unmanufactured tobacco yield hit record highs at X tons per ha in 2013; however, from 2014 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of tobacco (unmanufactured) in Panama dropped to X ha, approximately equating 2021. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 4% against the previous year. The unmanufactured tobacco harvested area peaked at X ha in 2021, and then dropped slightly in the following year.

Unmanufactured Tobacco Exports

Exports from Panama

In 2022, overseas shipments of tobacco (unmanufactured) were finally on the rise to reach X tons after two years of decline. In general, exports saw noticeable growth. The pace of growth was the most pronounced in 2014 with an increase of 2,450%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, unmanufactured tobacco exports surged to $X in 2022. Over the period under review, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 1,884%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Honduras (X tons) was the main destination for unmanufactured tobacco exports from Panama, with a 92% share of total exports. Moreover, unmanufactured tobacco exports to Honduras exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Honduras stood at +230.2%.

In value terms, Honduras ($X) remains the key foreign market for tobacco (unmanufactured) exports from Panama, comprising 96% of total exports. The second position in the ranking was held by the United States ($X), with a 1.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Honduras amounted to +252.9%.

Export Prices by Country

In 2022, the average unmanufactured tobacco export price amounted to $X per ton, growing by 10% against the previous year. Over the period under review, the export price posted a prominent expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 335% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a 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 Honduras ($X per ton), while the average price for exports to the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (+74.7%), while the prices for the other major destinations experienced mixed trend patterns.

Unmanufactured Tobacco Imports

Imports into Panama

In 2022, unmanufactured tobacco imports into Panama expanded slightly to X tons, rising by 1.8% against the previous year's figure. Over the period under review, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 978% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, unmanufactured tobacco imports amounted to $X in 2022. In general, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2013 with an increase of 1,032% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Italy (X tons), Honduras (X tons) and Nicaragua (X tons) were the main suppliers of unmanufactured tobacco imports to Panama, together comprising 93% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Nicaragua (with a CAGR of +80.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Honduras ($X) and Nicaragua ($X) were the largest unmanufactured tobacco suppliers to Panama, together comprising 90% of total imports.

Among the main suppliers, Honduras, with a CAGR of +88.1%, 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

The average unmanufactured tobacco import price stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, unmanufactured tobacco import price increased by +14.6% against 2019 indices. The growth pace was the most rapid in 2016 an increase of 45% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+38.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the unmanufactured tobacco market in Panama. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 826 - Tobacco leaves

Country coverage:

  • Panama

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Panama
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND THE AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    5. MARKET FORECAST TO 2035
  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Imports, In Physical Terms, By Country, 2012-2024
    6. Imports, In Value Terms, By Country, 2012-2024
    7. Import Prices, By Country, 2012-2024
    8. Exports, In Physical Terms, By Country, 2012-2024
    9. Exports, In Value Terms, By Country, 2012-2024
    10. Exports Prices, By Country, 2012-2024
  12. LIST OF FIGURES

    1. Market Volume, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Structure – Domestic Supply Vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Market Structure – Domestic Supply Vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Trade Balance, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    6. Trade Balance, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Market Size and Growth, by Product
    11. Average Per Capita Consumption, by Product
    12. Exports and Growth, by Product
    13. Export Prices and Growth, by Product
    14. Production Volume and Growth
    15. Yield and Growth
    16. Exports and Growth
    17. Export Prices and Growth
    18. Market Size and Growth
    19. Per Capita Consumption
    20. Imports and Growth
    21. Import Prices
    22. Production, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    23. Production, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    24. Harvested Area: Historical Data (2012–2024) and Forecast (2025–2035)
    25. Yield: Historical Data (2012–2024) and Forecast (2025–2035)
    26. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    27. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    28. Imports, in Physical Terms, by Country, 2024
    29. Imports, in Physical Terms, by Country, 2012-2024
    30. Imports, in Value Terms, by Country, 2012-2024
    31. Import Prices, by Country, 2012-2024
    32. Exports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    33. Exports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    34. Exports, in Physical Terms, by Country, 2024
    35. Exports, in Physical Terms, by Country, 2012-2024
    36. Exports, in Value Terms, by Country, 2012-2024
    37. Export Prices, by Country, 2012-2024

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