Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in Panama - 2024
Contents:
- Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in Panama (CIF) - 2022
- Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in Panama (FOB) - 2022
- Imports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in Panama
- Exports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in Panama
Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in Panama (CIF) - 2022
In 2022, the average import price for machines and mechanical appliances; parts, of those having individual functionses amounted to $16,638 per ton, which is down by -8.1% against the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for machines and mechanical appliances; parts, of those having individual functionses decreased by -15.9% against 2020 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 39%. Over the period under review, average import prices hit record highs at $22,165 per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($32,492 per ton), while the price for China ($4,294 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in Panama (FOB) - 2022
In 2022, the average export price for machines and mechanical appliances; parts, of those having individual functionses amounted to $14,113 per ton, dropping by -17.8% against the previous year. In general, the export price continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by 58%. Over the period under review, the average export prices hit record highs at $22,330 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($42,718 per ton), while the average price for exports to Spain ($2,670 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+50.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in Panama
Imports of machines and mechanical appliances; parts, of those having individual functionses into Panama declined sharply to 126 tons in 2022, waning by -19.1% compared with the previous year's figure. Overall, imports showed a significant decrease.
In value terms, imports of machines and mechanical appliances; parts, of those having individual functionses contracted rapidly to $2.1M in 2022. Over the period under review, imports faced a sharp contraction. The smallest decline of -1.1% was in 2020.
| Import of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 909 | 843 | 1,218 | 814 | -3.6% |
| Germany | 232 | 213 | 257 | 199 | -5.0% |
| Free Zones | 206 | 184 | 757 | 194 | -2.0% |
| Italy | 289 | 561 | 119 | 176 | -15.2% |
| Spain | 559 | 73.9 | 63.9 | 176 | -32.0% |
| Brazil | 55.7 | 43.5 | 40.5 | 109 | 25.1% |
| Mexico | 146 | 54.3 | 62.7 | 82.0 | -17.5% |
| China | 582 | 594 | 124 | 77.5 | -48.9% |
| Malaysia | 256 | 219 | 1.1 | 14.8 | -61.3% |
| Hong Kong SAR | 67.1 | 122 | 0.3 | 0.6 | -79.2% |
| Belgium | 50.7 | 494 | 0.5 | 0.5 | -78.6% |
| Others | 1,020 | 923 | 173 | 251 | -37.3% |
| Total | 4,373 | 4,324 | 2,817 | 2,095 | -21.8% |
Top Suppliers of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions to Panama in 2022:
- United States (52.0 tons)
- China (18.0 tons)
- Free Zones (17.5 tons)
- Brazil (7.4 tons)
- Mexico (6.6 tons)
- Germany (6.5 tons)
- Italy (5.9 tons)
- Spain (5.4 tons)
- Malaysia (1.0 tons)
- Hong Kong SAR (0.1 tons)
Exports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in Panama
In 2022, approx. 44 tons of machines and mechanical appliances; parts, of those having individual functionses were exported from Panama; jumping by 47% against the previous year's figure. Overall, exports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 94% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.
In value terms, exports of machines and mechanical appliances; parts, of those having individual functionses soared to $628K in 2022. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 126%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.
| Export of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 32.1 | 41.0 | 14.3 | 281 | 106.1% |
| Guatemala | 190 | 100 | 331 | 123 | -13.5% |
| Colombia | N/A | 0.7 | N/A | 58.7 | 815.7% |
| Costa Rica | 21.1 | 37.0 | 37.4 | 47.3 | 30.9% |
| Aruba | 2.3 | 1.6 | 3.4 | 20.0 | 105.6% |
| United States | 13.0 | 2.8 | 27.9 | 17.1 | 9.6% |
| Trinidad and Tobago | 3.3 | 1.7 | N/A | 12.7 | 56.7% |
| Barbados | N/A | 4.3 | 1.8 | 9.8 | 51.0% |
| Jamaica | 0.5 | 0.4 | 7.9 | 3.6 | 93.1% |
| Canada | 19.3 | N/A | N/A | N/A | 0% |
| Others | 31.8 | 39.9 | 95.9 | 54.5 | 19.7% |
| Total | 313 | 230 | 519 | 628 | 26.1% |
Top Export Markets for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions from Panama in 2022:
- Costa Rica (12.0 tons)
- Guatemala (9.7 tons)
- China (6.6 tons)
- Aruba (4.3 tons)
- Colombia (3.2 tons)
- Barbados (2.3 tons)
- Trinidad and Tobago (1.9 tons)
- Jamaica (1.1 tons)
- United States (1.1 tons)
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