Price for Gloves, Mittens and Mitts; Knitted or Crocheted in Panama - 2024

Price for Gloves, Mittens and Mitts; Knitted or Crocheted in Panama (CIF) - 2024

The average import price for gloves, mittens and mitts; knitted or crocheted stood at $7.8 per pair in April 2024, reducing by -54.1% against the previous month. Over the period under review, the import price continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in March 2024 an increase of 214% month-to-month. Over the period under review, average import prices reached the maximum at $18.7 per pair in November 2023; however, from December 2023 to April 2024, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In April 2024, the country with the highest price was Hong Kong SAR ($11.8 per pair), while the price for India ($4.2 per pair) was amongst the lowest.

From April 2023 to April 2024, the most notable rate of growth in terms of prices was attained by Free Zones (-1.2%), while the prices for the other major suppliers experienced a decline.

Price for Gloves, Mittens and Mitts; Knitted or Crocheted in Panama (FOB) - 2022

In 2022, the average export price for gloves, mittens and mitts; knitted or crocheted amounted to $1.4 per pair, shrinking by -10.7% against the previous year. In general, the export price, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2013 when the average export price increased by 289%. As a result, the export price attained the peak level of $2.1 per pair. From 2014 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 Guatemala ($3.4 per pair), while the average price for exports to Guyana ($161 per thousand pairs) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+1,474.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gloves, Mittens and Mitts; Knitted or Crocheted in Panama

For the third consecutive year, Panama recorded decline in overseas purchases of gloves, mittens and mitts; knitted or crocheted, which decreased by -52.7% to 1.8M pairs in 2022. In general, imports saw a dramatic decrease. The smallest decline of -20.4% was in 2021. Over the period under review, imports of reached the peak figure at 11M pairs in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, imports of gloves, mittens and mitts; knitted or crocheted contracted markedly to $2.7M in 2022. Over the period under review, imports recorded a precipitous descent. The smallest decline of -4.6% was in 2021. Imports peaked at $8.4M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Import of Gloves, Mittens and Mitts; Knitted or Crocheted in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	209	288	732	1,386	87.9%
China	5,179	2,004	1,036	570	-52.1%
Free Zones	2,122	463	1,137	319	-46.8%
Portugal	0.9	N/A	36.1	158	459.9%
Sri Lanka	15.6	9.1	79.3	90.4	79.6%
Pakistan	226	221	29.2	2.1	-79.0%
India	264	261	37.3	0.3	-89.6%
Others	335	230	229	158	-22.2%
Total	8,352	3,476	3,315	2,685	-31.5%

Top Suppliers of Gloves, Mittens and Mitts; Knitted or Crocheted to Panama in 2022:

China (661.7K pairs)
United States (596.2K pairs)
Free Zones (341.3K pairs)
Portugal (78.4K pairs)
Sri Lanka (47.6K pairs)
Pakistan (2.9K pairs)
India (0.4K pairs)

Exports of Gloves, Mittens and Mitts; Knitted or Crocheted in Panama

In 2022, overseas shipments of gloves, mittens and mitts; knitted or crocheted decreased by -18.9% to 158K pairs, falling for the second year in a row after two years of growth. Over the period under review, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 2.6% against the previous year. As a result, the exports attained the peak of 260K pairs. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of gloves, mittens and mitts; knitted or crocheted contracted notably to $228K in 2022. In general, exports saw a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 2.9%. As a result, the exports attained the peak of $355K. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Export of Gloves, Mittens and Mitts; Knitted or Crocheted in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Costa Rica	99.4	57.1	25.0	109	3.1%
Colombia	N/A	N/A	7.7	42.2	448.1%
El Salvador	N/A	0.1	0.4	20.5	1331.8%
Paraguay	35.9	32.8	9.7	9.2	-36.5%
Guatemala	170	179	167	5.3	-68.5%
Trinidad and Tobago	4.9	6.0	6.1	4.5	-2.8%
Chile	1.1	1.0	N/A	3.1	41.3%
Guyana	0.5	1.6	2.5	2.2	63.9%
Ecuador	N/A	23.0	26.6	0.4	-86.8%
Jamaica	11.5	4.6	1.8	0.2	-74.1%
Brazil	N/A	N/A	7.1	N/A	0%
Others	21.9	50.7	61.4	31.5	12.9%
Total	345	355	315	228	-12.9%