Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Panama - 2023

Contents:

1. Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Panama (CIF) - 2023
2. Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Panama (FOB) - 2022
3. Imports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Panama
4. Exports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Panama

Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Panama (CIF) - 2023

The average import price for articles of apparel and clothing accessories, of leather or of composition leather stood at $8.3 per unit in November 2023, with an increase of 20% against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 an increase of 179% m-o-m. Over the period under review, average import prices attained the peak figure at $13.5 per unit in December 2022; however, from January 2023 to November 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Pakistan ($42.2 per unit), while the price for China ($4.1 per unit) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Free Zones (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Panama (FOB) - 2022

The average export price for articles of apparel and clothing accessories, of leather or of composition leather stood at $51 per unit in 2022, approximately equating the previous year. In general, the export price enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2013 when the average export price increased by 181% against the previous year. The export price peaked at $67 per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 Ecuador ($69 per unit), while the average price for exports to Cuba ($36 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 Ecuador (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Panama

In 2022, supplies from abroad of articles of apparel and clothing accessories, of leather or of composition leather was finally on the rise to reach 446K units after two years of decline. In general, imports, however, faced a abrupt decline. Imports peaked at 822K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, imports of articles of apparel and clothing accessories, of leather or of composition leather soared to $4.5M in 2022. Overall, imports, however, recorded a deep reduction. Imports peaked at $8.3M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Top Suppliers of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather to Panama in 2022:

1. China (224.6K units)
2. Free Zones (78.9K units)
3. United States (73.4K units)
4. Colombia (13.5K units)
5. India (12.4K units)
6. Turkey (9.8K units)
7. Italy (5.9K units)
8. Mexico (3.2K units)
9. Hong Kong SAR (0.4K units)

Exports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in Panama

For the third consecutive year, Panama recorded decline in overseas shipments of articles of apparel and clothing accessories, of leather or of composition leather, which decreased by 0% to 21K units in 2022. In general, exports showed a significant decline. The smallest decline of -53.7% was in 2020. Over the period under review, the exports of hit record highs at 91K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of articles of apparel and clothing accessories, of leather or of composition leather totaled $1.1M in 2022. Over the period under review, exports showed a precipitous contraction. The smallest decline of -54.3% was in 2020. Over the period under review, the exports of reached the maximum at $4.8M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Top Export Markets for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather from Panama in 2022:

1. Cuba (5.3K units)
2. Colombia (2.8K units)
3. Dominican Republic (1.7K units)
4. Costa Rica (1.3K units)
5. Free Zones (1.2K units)
6. Honduras (0.9K units)
7. El Salvador (0.9K units)
8. Guatemala (0.9K units)
9. Nicaragua (0.8K units)
10. Chile (0.6K units)
11. Venezuela (0.5K units)
12. Ecuador (0.5K units)
13. United States (0.4K units)

Source: IndexBox Market Intelligence Platform