Price for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Panama - 2024
Contents:
- Price for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Panama (CIF) - 2022
- Price for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Panama (FOB) - 2022
- Imports of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Panama
- Exports of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Panama
Price for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Panama (CIF) - 2022
In 2022, the average import price for cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses amounted to $30 per thousand units, increasing by 53% against the previous year. Over the last decade, it increased at an average annual rate of +4.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
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 Hong Kong SAR ($88 per thousand units), while the price for Free Zones ($29 per thousand units) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+24.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Panama (FOB) - 2022
In 2022, the average export price for cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses amounted to $13 per thousand units, picking up by 58% against the previous year. Over the period under review, the export price, however, showed a noticeable curtailment. The pace of growth appeared the most rapid in 2016 an increase of 62% against the previous year. The export price peaked at $19 per thousand units in 2012; however, from 2013 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 Costa Rica ($66 per thousand units), while the average price for exports to Aruba ($8.2 per thousand units) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+24.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Panama
In 2022, supplies from abroad of cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses increased by 10% to 275M units for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a significant curtailment. Over the period under review, imports of hit record highs at 5.8B units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, imports of cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses skyrocketed to $8.2M in 2022. In general, imports, however, continue to indicate a precipitous decrease. Over the period under review, imports of attained the peak figure at $124M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Free Zones | 2.0 | 3.2 | 3.9 | 4.1 | 27.0% |
| Honduras | 0.7 | 0.5 | 0.7 | 4.0 | 78.8% |
| South Korea | 18.6 | 8.0 | N/A | N/A | -57.0% |
| Croatia | 3.5 | 3.4 | N/A | N/A | -2.9% |
| Paraguay | 1.7 | 1.7 | N/A | N/A | 0.0% |
| China | 27.6 | 12.5 | N/A | N/A | -54.7% |
| Vietnam | 6.5 | 4.8 | N/A | N/A | -26.2% |
| Switzerland | 6.1 | N/A | N/A | N/A | 0% |
| United States | 2.4 | 2.9 | N/A | N/A | 20.8% |
| India | 18.4 | 9.7 | N/A | N/A | -47.3% |
| Mexico | 4.1 | 0.8 | 0.2 | N/A | -77.9% |
| United Arab Emirates | 15.8 | 16.0 | N/A | N/A | 1.3% |
| Uruguay | 5.1 | 2.1 | N/A | N/A | -58.8% |
| Others | 11.2 | 9.2 | N/A | 0.1 | -79.3% |
| Total | 124 | 74.9 | 4.9 | 8.2 | -59.6% |
Top Suppliers of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes to Panama in 2022:
- Free Zones (140.6M units)
- Honduras (131.6M units)
Exports of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Panama
In 2022, approx. 209M units of cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses were exported from Panama; which is down by -83.1% on the previous year's figure. In general, exports recorded a sharp contraction. The growth pace was the most rapid in 2021 when exports increased by 464% against the previous year. The exports peaked at 1.3B units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, exports of cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses fell notably to $2.7M in 2022. Over the period under review, exports continue to indicate a precipitous shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 308%. As a result, the exports attained the peak of $10M, and then shrank dramatically in the following year.
| Export of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 0.3 | 0.9 | 0.6 | 1.5 | 71.0% |
| Costa Rica | N/A | N/A | N/A | 0.3 | 0% |
| Jamaica | 5.3 | 0.2 | N/A | 0.1 | -73.4% |
| Belize | 2.2 | 0.1 | N/A | 0.1 | -64.3% |
| Aruba | 1.0 | 0.7 | 8.8 | N/A | 196.6% |
| Others | 1.2 | 0.6 | 0.8 | 0.8 | -12.6% |
| Total | 10.0 | 2.5 | 10.2 | 2.7 | -35.4% |
Top Export Markets for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes from Panama in 2022:
- United States (172.2M units)
- Belize (14.6M units)
- Aruba (5.0M units)
- Costa Rica (3.9M units)
- Jamaica (2.8M units)
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