Price for Electrical Push-Button and Rotary Switch in Panama - 2024
Contents:
- Price for Electrical Push-Button and Rotary Switch in Panama (CIF) - 2024
- Price for Electrical Push-Button and Rotary Switch in Panama (FOB) - 2022
- Imports of Electrical Push-Button and Rotary Switch in Panama
- Exports of Electrical Push-Button and Rotary Switch in Panama
Price for Electrical Push-Button and Rotary Switch in Panama (CIF) - 2024
The average import price for electrical push-button and rotary switches for under 1000 v stood at $912 per thousand units in March 2024, growing by 27% against the previous month. Over the period under review, the import price, however, saw a slight slump. The growth pace was the most rapid in May 2023 an increase of 82% against the previous month. As a result, import price attained the peak level of $1.3 per unit. From June 2023 to March 2024, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In March 2024, the country with the highest price was Spain ($6.1 per unit), while the price for China ($373 per thousand units) was amongst the lowest.
From March 2023 to March 2024, the most notable rate of growth in terms of prices was attained by Spain (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Electrical Push-Button and Rotary Switch in Panama (FOB) - 2022
The average export price for electrical push-button and rotary switches for under 1000 v stood at $0.5 per unit in 2022, surging by 30% against the previous year. In general, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the average export price increased by 62% against the previous year. Over the period under review, the average export prices hit record highs at $0.5 per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($0.9 per unit), while the average price for exports to Belize ($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 (+18.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electrical Push-Button and Rotary Switch in Panama
In 2022, the amount of electrical push-button and rotary switches for under 1000 v imported into Panama contracted to 9.7M units, waning by -12% compared with 2021. In general, imports saw a drastic downturn. The pace of growth was the most pronounced in 2021 with an increase of 36% against the previous year. Over the period under review, imports attained the peak figure at 13M units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, electrical push-button and rotary switch imports skyrocketed to $8.2M in 2022. Overall, imports showed a abrupt downturn. Over the period under review, imports attained the maximum at $9.7M in 2019; however, from 2020 to 2022, imports remained at a lower figure.
| Import of Electrical Push-Button and Rotary Switch in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 4.1 | 1.6 | 2.5 | 3.4 | -6.0% |
| Free Zones | 0.7 | 0.7 | 1.2 | 1.3 | 22.9% |
| Mexico | 1.5 | 0.5 | 0.4 | 0.9 | -15.7% |
| China | 1.2 | 1.1 | 0.9 | 0.9 | -9.1% |
| Taiwan (Chinese) | N/A | N/A | N/A | 0.2 | 0% |
| Others | 2.2 | 1.5 | 1.2 | 1.3 | -16.1% |
| Total | 9.7 | 5.4 | 6.3 | 8.2 | -5.4% |
Top Suppliers of Electrical Push-Button and Rotary Switch to Panama in 2022:
- United States (3.2M units)
- China (2.5M units)
- Free Zones (1.5M units)
- Mexico (1.4M units)
- Taiwan (Chinese) (0.2M units)
Exports of Electrical Push-Button and Rotary Switch in Panama
In 2022, approx. 754K units of electrical push-button and rotary switches for under 1000 v were exported from Panama; waning by -43.1% compared with 2021. In general, exports continue to indicate a precipitous setback. The pace of growth was the most pronounced in 2021 with an increase of 6.7%. Over the period under review, the exports hit record highs at 2.3M units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, electrical push-button and rotary switch exports dropped remarkably to $404K in 2022. Over the period under review, exports saw a sharp contraction. The growth pace was the most rapid in 2021 when exports increased by 1.2% against the previous year. The exports peaked at $1M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
| Export of Electrical Push-Button and Rotary Switch in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Costa Rica | 106 | 92.2 | 123 | 167 | 16.4% |
| Colombia | 4.1 | 5.5 | 5.5 | 24.6 | 81.7% |
| Dominican Republic | 142 | 147 | 111 | 22.7 | -45.7% |
| Barbados | 0.9 | 9.5 | 9.6 | 15.9 | 160.4% |
| Trinidad and Tobago | 1.9 | 4.2 | 16.9 | 15.3 | 100.4% |
| Guatemala | 172 | 127 | 153 | 12.6 | -58.2% |
| Suriname | N/A | N/A | N/A | 11.9 | 0% |
| Ecuador | 26.6 | 8.7 | 13.2 | 10.3 | -27.1% |
| Jamaica | 97.1 | 22.7 | 16.8 | 8.8 | -55.1% |
| Guyana | 6.6 | 70.8 | 5.6 | 6.2 | -2.1% |
| Aruba | 1.9 | 4.7 | 6.5 | 6.0 | 46.7% |
| Belize | 12.2 | 5.6 | 3.5 | 4.5 | -28.3% |
| Antigua and Barbuda | 51.0 | 0.3 | N/A | N/A | -99.4% |
| Others | 425 | 40.4 | 80.4 | 97.5 | -38.8% |
| Total | 1,047 | 538 | 545 | 404 | -27.2% |
Top Export Markets for Electrical Push-Button and Rotary Switch from Panama in 2022:
- Costa Rica (286.7K units)
- Belize (63.4K units)
- Jamaica (60.6K units)
- Colombia (55.2K units)
- Barbados (47.1K units)
- Ecuador (35.2K units)
- Trinidad and Tobago (32.1K units)
- Suriname (31.7K units)
- Guatemala (28.5K units)
- Dominican Republic (25.5K units)
- Aruba (24.1K units)
- Guyana (14.3K units)
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