Price for New Pneumatic Tyres, of Rubber in Panama - 2023
Contents:
- Price for New Pneumatic Tyres, of Rubber in Panama (CIF) - 2022
- Price for New Pneumatic Tyres, of Rubber in Panama (FOB) - 2022
- Imports of New Pneumatic Tyres, of Rubber in Panama
- Exports of New Pneumatic Tyres, of Rubber in Panama
Price for New Pneumatic Tyres, of Rubber in Panama (CIF) - 2022
In 2022, the average import price for new pneumatic tyres, of rubbers amounted to $94 per unit, rising by 40% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, new pneumatic tyres, of rubber import price increased by +78.3% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($711 per unit), while the price for Free Zones ($32 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+23.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for New Pneumatic Tyres, of Rubber in Panama (FOB) - 2022
The average export price for new pneumatic tyres, of rubbers stood at $52 per unit in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 15%. As a result, the export price attained the peak level of $64 per unit. From 2015 to 2022, the average export prices failed to regain momentum.
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 Costa Rica ($98 per unit), while the average price for exports to Nicaragua ($44 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 Nicaragua (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of New Pneumatic Tyres, of Rubber in Panama
In 2022, imports of new pneumatic tyres, of rubbers into Panama shrank markedly to 1M units, falling by -33.6% on 2021. In general, imports continue to indicate a dramatic decrease. Imports peaked at 4.9M units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, new pneumatic tyres, of rubber imports declined to $95M in 2022. Over the period under review, imports showed a precipitous slump. Over the period under review, imports attained the maximum at $263M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
| Import of New Pneumatic Tyres, of Rubber in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 91.7 | 48.9 | 38.5 | 33.0 | -28.9% |
| Japan | 19.7 | 6.0 | 14.8 | 14.7 | -9.3% |
| United States | 19.2 | 15.8 | 13.3 | 14.5 | -8.9% |
| Free Zones | 10.4 | 5.5 | 8.2 | 6.7 | -13.6% |
| Thailand | 4.7 | 1.8 | 3.1 | 3.6 | -8.5% |
| Costa Rica | 6.2 | 3.1 | 3.8 | 3.5 | -17.4% |
| South Korea | 28.5 | 20.1 | 2.9 | 3.5 | -50.3% |
| Spain | 15.6 | 1.8 | 0.6 | 2.2 | -47.9% |
| Taiwan (Chinese) | 1.5 | 1.3 | 1.9 | 1.9 | 8.2% |
| Malaysia | 0.7 | 0.4 | 0.7 | 1.9 | 39.5% |
| Brazil | 13.5 | 9.0 | 2.6 | 1.7 | -49.9% |
| Mexico | 9.0 | 7.1 | 0.5 | 0.6 | -59.5% |
| Poland | 9.5 | 9.2 | 0.2 | 0.3 | -68.4% |
| Others | 33.1 | 36.0 | 11.4 | 7.3 | -39.6% |
| Total | 263 | 166 | 102 | 95.2 | -28.7% |
Top Suppliers of New Pneumatic Tyres, of Rubber to Panama in 2022:
- China (363.4K units)
- Free Zones (206.6K units)
- Japan (80.3K units)
- South Korea (50.7K units)
- Thailand (50.5K units)
- Costa Rica (49.2K units)
- United States (45.5K units)
- Malaysia (30.9K units)
- Taiwan (Chinese) (30.0K units)
- Brazil (19.3K units)
- Mexico (9.0K units)
- Spain (4.9K units)
- Poland (3.1K units)
Exports of New Pneumatic Tyres, of Rubber in Panama
For the third year in a row, Panama recorded decline in overseas shipments of new pneumatic tyres, of rubbers, which decreased by 0% to 1.4M units in 2022. In general, exports saw a precipitous setback. The smallest decline of -17% was in 2020. Over the period under review, the exports hit record highs at 3.3M units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, new pneumatic tyres, of rubber exports totaled $71M in 2022. Over the period under review, exports showed a sharp downturn. The smallest decline of -20.3% was in 2020. Over the period under review, the exports hit record highs at $179M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
| Export of New Pneumatic Tyres, of Rubber in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 49.6 | 54.5 | N/A | 22.6 | -23.0% |
| Free Zones | 15.9 | 14.4 | N/A | 6.0 | -27.7% |
| Venezuela | 26.1 | 3.7 | N/A | 5.7 | -39.8% |
| United States | 11.1 | 12.5 | N/A | 5.2 | -22.3% |
| Belgium | 1.3 | 6.9 | N/A | 2.9 | 30.7% |
| Nicaragua | 7.5 | 5.0 | N/A | 2.7 | -28.9% |
| Costa Rica | 6.3 | 4.9 | N/A | 2.6 | -25.5% |
| Cuba | 6.1 | 6.1 | N/A | 2.5 | -25.7% |
| Colombia | 4.8 | 2.3 | N/A | 2.3 | -21.7% |
| Brazil | 6.2 | 2.9 | N/A | 2.2 | -29.2% |
| Peru | 5.5 | 3.0 | N/A | 1.9 | -29.8% |
| Guatemala | 4.1 | 2.2 | N/A | 1.4 | -30.1% |
| El Salvador | 3.2 | 2.2 | N/A | 1.3 | -25.9% |
| Others | 31.3 | 22.2 | N/A | 12.0 | -27.4% |
| Total | 179 | 143 | N/A | 71.4 | -26.4% |
Top Export Markets for New Pneumatic Tyres, of Rubber from Panama in 2022:
- Netherlands (471.1K units)
- Free Zones (124.1K units)
- United States (105.2K units)
- Venezuela (103.6K units)
- Nicaragua (60.6K units)
- Belgium (59.8K units)
- Cuba (48.2K units)
- Brazil (40.4K units)
- Peru (36.4K units)
- Colombia (35.4K units)
- Costa Rica (26.9K units)
- Guatemala (25.3K units)
- El Salvador (23.0K units)
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