Report Update Nov 1, 2024

Panama - Wool - Market Analysis, Forecast, Size, Trends and Insights

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Panama: Wool Market 2024

Wool Market Size in Panama

In 2022, the Panamanian wool market increased by less than 0.1% to $X, rising for the second year in a row after seven years of decline. In general, consumption, however, saw a deep reduction. The most prominent rate of growth was recorded in 2021 when the market value increased by 6.8%. Wool consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Wool Production in Panama

In value terms, wool production contracted to $X in 2022 estimated in export price. Overall, production recorded a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of 12% against the previous year. Wool production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Wool Exports

Exports from Panama

After two years of growth, overseas shipments of wool decreased by -70.9% to X tons in 2022. In general, exports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 4,551% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced sharply in the following year.

In value terms, wool exports dropped remarkably to $X in 2022. Overall, exports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 4,215%. The exports peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

The Dominican Republic (X tons), Costa Rica (X tons) and Grenada (X kg) were the main destinations of wool exports from Panama, with a combined 93% share 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 the Dominican Republic (with a CAGR of +84.8%), while the other leaders experienced more modest paces of growth.

In value terms, Costa Rica ($X), Honduras ($X) and the Dominican Republic ($X) were the largest markets for wool exported from Panama worldwide, together comprising 95% of total exports.

Among the main countries of destination, the Dominican Republic, with a CAGR of +51.1%, recorded 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

In 2022, the average wool export price amounted to $X per ton, picking up by 135% against the previous year. In general, the export price, however, continues to indicate a abrupt descent. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Grenada ($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 Honduras (+6.6%), while the prices for the other major destinations experienced a decline.

Wool Imports

Imports into Panama

In 2022, the amount of wool imported into Panama surged to X tons, increasing by 229% on 2021 figures. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 7,186%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, wool imports skyrocketed to $X in 2022. Over the period under review, imports saw a significant increase. The pace of growth appeared the most rapid in 2018 when imports increased by 7,740%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of wool to Panama, accounting for a 84% share of total imports. Moreover, wool imports from China exceeded the figures recorded by the second-largest supplier, Free Zones (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +96.1%.

In value terms, China ($X) constituted the largest supplier of wool to Panama, comprising 76% of total imports. The second position in the ranking was held by Free Zones ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +93.2%.

Import Prices by Country

The average wool import price stood at $X per ton in 2022, waning by -32.4% against the previous year. In general, the import price showed a slight descent. The most prominent rate of growth was recorded in 2017 an increase of 141%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Free Zones ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2,117.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

This report provides an in-depth analysis of the wool 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:

Prodcom 13102200 - Wool, degreased or carbonised, not carded or combed

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023