Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Panama - 2023
Contents:
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Panama (CIF) - 2022
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Panama (FOB) - 2022
- Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Panama
- Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Panama
Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Panama (CIF) - 2022
The average import price for furniture; wooden, other than for office, kitchen or bedroom use stood at $73 per unit in 2022, declining by -19.2% against the previous year. In general, the import price saw a noticeable decline. The pace of growth was the most pronounced in 2021 when the average import price increased by 6.1%. Over the period under review, average import prices hit record highs at $115 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($176 per unit), while the price for China ($54 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Panama (FOB) - 2022
In 2022, the average export price for furniture; wooden, other than for office, kitchen or bedroom use amounted to $75 per unit, surging by 16% against the previous year. Overall, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for furniture; wooden, other than for office, kitchen or bedroom use increased by +38.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 50% against the previous year. As a result, the export price reached the peak level of $97 per unit. From 2019 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($92 per unit), while the average price for exports to Aruba ($55 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 the Dominican Republic (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Panama
In 2022, the amount of furniture; wooden, other than for office, kitchen or bedroom use imported into Panama surged to 520K units, jumping by 24% compared with 2021 figures. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +7.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +78.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 43%. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in years to come.
In value terms, imports of furniture; wooden, other than for office, kitchen or bedroom use amounted to $38M in 2022. Overall, imports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 52%. Imports peaked at $47M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 14.7 | 5.2 | 9.2 | 6.6 | -23.4% |
| Colombia | 7.2 | 3.7 | 3.6 | 5.7 | -7.5% |
| Free Zones | 2.0 | 3.4 | 6.4 | 5.3 | 38.4% |
| Brazil | 5.5 | 2.5 | 6.5 | 5.0 | -3.1% |
| United States | 4.2 | 2.1 | 2.5 | 3.7 | -4.1% |
| Italy | 3.3 | 3.1 | 3.1 | 3.5 | 2.0% |
| Malaysia | 1.8 | 1.0 | 1.2 | 1.6 | -3.9% |
| Vietnam | 1.4 | 0.6 | 0.6 | 0.6 | -24.6% |
| Others | 6.7 | 3.3 | 5.0 | 6.2 | -2.6% |
| Total | 46.9 | 25.0 | 38.1 | 38.2 | -6.6% |
Top Suppliers of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use to Panama in 2022:
- China (122.9K units)
- Brazil (86.2K units)
- Free Zones (85.4K units)
- Colombia (58.8K units)
- Italy (40.9K units)
- United States (35.8K units)
- Malaysia (16.2K units)
- Vietnam (10.5K units)
Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Panama
Exports of furniture; wooden, other than for office, kitchen or bedroom use from Panama was estimated at 5K units in 2022, approximately mirroring 2021 figures. In general, exports, however, saw a sharp decrease. The pace of growth was the most pronounced in 2020 with an increase of 7%. As a result, the exports reached the peak of 81K units. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of furniture; wooden, other than for office, kitchen or bedroom use surged to $379K in 2022. Over the period under review, exports, however, faced a precipitous decline. The exports peaked at $4.8M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
| Export of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 146 | 39.7 | 85.5 | 232 | 16.7% |
| Free Zones | 115 | 181 | 187 | 74.5 | -13.5% |
| Honduras | 27.2 | 22.9 | N/A | 18.0 | -12.9% |
| Guyana | 189 | 25.2 | N/A | 13.0 | -59.0% |
| Aruba | 13.0 | 11.9 | 11.6 | 11.4 | -4.3% |
| El Salvador | 15.4 | 10.5 | 0.3 | 8.2 | -18.9% |
| Costa Rica | 239 | 187 | 5.2 | 7.3 | -68.7% |
| Jamaica | 140 | 4.4 | 5.5 | 3.8 | -69.9% |
| Trinidad and Tobago | 273 | 152 | 8.5 | 3.2 | -77.3% |
| Dominican Republic | 804 | 32.8 | 19.0 | 0.2 | -93.7% |
| Nicaragua | 65.6 | 47.7 | N/A | N/A | -27.3% |
| Colombia | 69.2 | 26.7 | N/A | N/A | -61.4% |
| Venezuela | 49.4 | 217 | N/A | N/A | 339.3% |
| Others | 2,608 | 3,473 | 0.6 | 7.5 | -85.8% |
| Total | 4,754 | 4,432 | 323 | 379 | -57.0% |
Top Export Markets for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use from Panama in 2022:
- United States (3003.0 units)
- Free Zones (963.0 units)
- Honduras (233.0 units)
- Aruba (208.0 units)
- Guyana (169.0 units)
- El Salvador (149.0 units)
- Costa Rica (95.0 units)
- Jamaica (50.0 units)
- Trinidad and Tobago (41.0 units)
- Dominican Republic (2.0 units)
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