Bicycle Tire Price in Panama - 2023
Contents:
- Bicycle Tire Price in Panama (CIF) - 2022
- Bicycle Tire Price in Panama (FOB) - 2022
- Bicycle Tire Imports in Panama
- Bicycle Tire Exports in Panama
Bicycle Tire Price in Panama (CIF) - 2022
In 2022, the average bicycle tire import price amounted to $1.8 per unit, rising by 3.2% against the previous year. Over the period under review, the import price, however, saw a deep downturn. The pace of growth was the most pronounced in 2019 an increase of 33%. Over the period under review, average import prices attained the maximum at $4.9 per unit 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 ($7.4 per unit), while the price for Germany ($1.2 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Bicycle Tire Price in Panama (FOB) - 2022
In 2022, the average bicycle tire export price amounted to $5.5 per unit, surging by 13% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bicycle tire export price decreased by -9.1% against 2020 indices. The pace of growth appeared the most rapid in 2015 an increase of 20%. Over the period under review, the average export prices reached the peak figure at $6 per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Jamaica ($7.4 per unit), while the average price for exports to Guyana ($3.3 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 Guyana (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.
Bicycle Tire Imports in Panama
In 2022, overseas purchases of new pneumatic tyres for bicycles decreased by -48.7% to 113K units, falling for the second year in a row after two years of growth. Over the period under review, imports continue to indicate a sharp decrease. The pace of growth was the most pronounced in 2020 with an increase of 4.2%. As a result, imports reached the peak of 361K units. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, bicycle tire imports dropped remarkably to $198K in 2022. In general, imports continue to indicate a dramatic setback. The most prominent rate of growth was recorded in 2020 when imports increased by 13% against the previous year. As a result, imports attained the peak of $1.7M. From 2021 to 2022, the growth of imports failed to regain momentum.
Import of Bicycle Tire in Panama (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Free Zones | 118 | 97.0 | 210 | 132 | 3.8% |
China | 1,231 | 1,165 | 49.3 | 30.8 | -70.8% |
Taiwan (Chinese) | 9.2 | 55.7 | 23.3 | 25.1 | 39.7% |
Germany | 32.2 | 46.2 | 45.5 | 4.4 | -48.5% |
United States | 19.0 | 8.9 | 14.3 | 4.2 | -39.5% |
Italy | 14.3 | 7.8 | 13.0 | N/A | -4.7% |
Others | 47.6 | 289 | 18.3 | 1.3 | -69.9% |
Total | 1,471 | 1,669 | 374 | 198 | -48.8% |
Top Suppliers of Bicycle Tire to Panama in 2022:
- Free Zones (97.9K units)
- China (4.2K units)
- Germany (3.8K units)
- Taiwan (Chinese) (3.4K units)
- United States (3.1K units)
Bicycle Tire Exports in Panama
In 2022, bicycle tire exports from Panama contracted to 23K units, reducing by -12.6% against the previous year's figure. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 48% against the previous year. As a result, the exports attained the peak of 27K units, and then dropped in the following year.
In value terms, bicycle tire exports shrank modestly to $128K in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 19%. Over the period under review, the exports hit record highs at $130K in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
Export of Bicycle Tire in Panama (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Belize | 54.7 | 45.6 | 79.2 | 104 | 23.9% |
Guyana | 41.2 | 34.0 | 34.7 | 9.1 | -39.6% |
Grenada | 2.9 | 0.7 | N/A | 8.5 | 43.1% |
United States | N/A | N/A | N/A | 2.0 | 0% |
Trinidad and Tobago | 3.4 | 5.0 | 3.9 | 1.8 | -19.1% |
Paraguay | 15.5 | N/A | N/A | N/A | 0% |
Saint Vincent and the Grenadines | 5.7 | 4.3 | 1.0 | N/A | -58.1% |
Others | 6.7 | 19.7 | 11.0 | 2.9 | -24.4% |
Total | 130 | 109 | 130 | 128 | -0.5% |
Top Export Markets for Bicycle Tire from Panama in 2022:
- Belize (18.2K units)
- Guyana (2.8K units)
- Grenada (1.2K units)
- United States (0.5K units)
- Trinidad and Tobago (0.5K units)
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China dominates in the global tyres for motorcycles or bicycles trade. In 2014, China exported X million units of tyres for motorcycles or bicycles totaling X million USD, X% over the previous year. Its primary trading partner was Nigeria, where
The tyre industry has witnessed significant growth over the years, driven by the increasing demand for automobiles and the expanding global automotive industry. As a result, tire manufacturers around the world are constantly looking to tap into the best import markets for tyres to ensure their products reach a wider audience. The IndexBox Market Intelligence Platform provides comprehensive and up-to-date data on global trade, including import values, market trends, and key statistics. Based on the data sourced from the IndexBox platform, we have compiled a list of the top 10 countries with the highest import values for tyres in 2022. The United States takes the top spot with an import value of $18.7 billion in 2022, followed by Germany and France. Emerging economies like Mexico, Canada, and Australia also contribute significantly to the import market for tyres. The IndexBox market intelligence platform delivers valuable insights into these markets, helping manufacturers and traders make informed decisions and capitalize on the opportunities available.
The global tire market is expected to reach $209 billion in 2030, growing with a CAGR of +2.4% from 2022 to 2030.
Explore the top import markets for agricultural, construction, and industrial machinery tyres in 2023. Find out which countries are leading the way in importing high-quality tyres for various sectors.
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