Plugs and Socket Price in Panama - 2024
Contents:
- Plugs and Socket Price in Panama (CIF) - 2024
- Plugs and Socket Price in Panama (FOB) - 2022
- Plugs and Socket Imports in Panama
- Plugs and Socket Exports in Panama
Plugs and Socket Price in Panama (CIF) - 2024
In May 2023, the average plugs and socket import price amounted to $137 per thousand units, growing by 12% against the previous month. Overall, the import price, however, continues to indicate a abrupt shrinkage. Over the period under review, average import prices reached the peak figure at $164 per thousand units in March 2023; however, from April 2023 to May 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Mexico ($218 per thousand units), while the price for China ($72.0 per thousand units) was amongst the lowest.
From March 2023 to May 2023, the most notable rate of growth in terms of prices was attained by Mexico (+17.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Plugs and Socket Price in Panama (FOB) - 2022
The average plugs and socket export price stood at $0.1 per unit in 2022, picking up by 38% against the previous year. In general, the export price, however, saw a deep downturn. The most prominent rate of growth was recorded in 2019 when the average export price increased by 96%. The export price peaked at $0.6 per unit 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 external markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($0.2 per unit), while the average price for exports to Nicaragua (less than $0.1 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 (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.
Plugs and Socket Imports in Panama
In 2022, the amount of electrical plugs and sockets for under 1000 v imported into Panama declined markedly to 66M units, which is down by -16.8% on the previous year. In general, imports recorded a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of 55% against the previous year. Imports peaked at 105M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, plugs and socket imports fell to $8.2M in 2022. Overall, imports showed a abrupt setback. The growth pace was the most rapid in 2021 with an increase of 16%. Imports peaked at $12M in 2019; however, from 2020 to 2022, imports remained at a lower figure.
| Import of Plugs and Socket in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.9 | 1.5 | 2.4 | 2.6 | -3.6% |
| China | 3.5 | 1.7 | 1.7 | 2.2 | -14.3% |
| Free Zones | 2.8 | 3.3 | 3.0 | 1.1 | -26.8% |
| Mexico | 0.6 | 0.4 | 0.4 | 0.6 | 0.0% |
| Spain | 0.1 | 0.1 | 0.3 | 0.6 | 81.7% |
| India | 0.2 | N/A | 0.1 | 0.3 | 14.5% |
| El Salvador | N/A | N/A | N/A | 0.1 | 0% |
| Others | 1.9 | 0.8 | 1.0 | 0.8 | -25.0% |
| Total | 12.1 | 7.7 | 8.9 | 8.2 | -12.2% |
Top Suppliers of Plugs and Socket to Panama in 2022:
- China (23.3M units)
- United States (14.7M units)
- Free Zones (10.4M units)
- India (5.5M units)
- Mexico (3.5M units)
- Spain (3.1M units)
- El Salvador (1.2M units)
Plugs and Socket Exports in Panama
In 2022, approx. 2M units of electrical plugs and sockets for under 1000 v were exported from Panama; shrinking by -69.9% compared with 2021 figures. In general, exports recorded a precipitous decline. The smallest decline of -18.2% was in 2021. The exports peaked at 17M units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, plugs and socket exports contracted remarkably to $180K in 2022. Overall, exports recorded a precipitous slump. The smallest decline of -24.3% was in 2021. Over the period under review, the exports reached the maximum at $880K in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
| Export of Plugs and Socket in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Costa Rica | 98.6 | 151 | 83.9 | 58.2 | -16.1% |
| Guyana | 33.9 | 22.8 | 16.9 | 29.4 | -4.6% |
| Jamaica | 339 | 53.1 | 81.7 | 15.8 | -64.0% |
| Antigua and Barbuda | 234 | 1.3 | 0.5 | 10.8 | -64.1% |
| Ecuador | N/A | N/A | 0.7 | 8.0 | 1042.9% |
| Dominican Republic | 5.7 | 4.4 | 22.2 | 6.9 | 6.6% |
| Italy | N/A | N/A | N/A | 6.3 | 0% |
| Trinidad and Tobago | 5.9 | 5.2 | 7.2 | 6.2 | 1.7% |
| Suriname | N/A | 5.9 | 6.2 | 5.2 | -6.1% |
| Aruba | 3.0 | 2.9 | 1.1 | 5.0 | 18.6% |
| Belize | 26.3 | 8.6 | 3.5 | 3.9 | -47.1% |
| Barbados | 0.4 | 2.8 | 6.1 | 2.5 | 84.2% |
| Nicaragua | N/A | N/A | 0.1 | 0.8 | 700.0% |
| Others | 133 | 312 | 202 | 20.9 | -46.0% |
| Total | 880 | 570 | 432 | 180 | -41.1% |
Top Export Markets for Plugs and Socket from Panama in 2022:
- Guyana (365.8K units)
- Jamaica (359.3K units)
- Costa Rica (328.6K units)
- Antigua and Barbuda (212.5K units)
- Belize (176.8K units)
- Dominican Republic (103.3K units)
- Aruba (71.5K units)
- Trinidad and Tobago (64.6K units)
- Suriname (59.5K units)
- Ecuador (49.8K units)
- Barbados (46.1K units)
- Nicaragua (45.9K units)
- Italy (39.0K units)
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