Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Panama - 2023
Contents:
- Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Panama (CIF) - 2023
- Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Panama (FOB) - 2022
- Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Panama
- Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Panama
Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Panama (CIF) - 2023
The average import price for refrigerating or freezing equipment; parts thereof, other than furniture stood at $59.2 per unit in November 2023, jumping by 18% against the previous month. Overall, the import price showed measured growth. The most prominent rate of growth was recorded in December 2022 an increase of 94% m-o-m. The import price peaked at $124 per unit in April 2023; however, from May 2023 to November 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Italy ($352 per unit), while the price for China ($10.8 per unit) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Italy (+26.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Panama (FOB) - 2022
In 2022, the average export price for refrigerating or freezing equipment; parts thereof, other than furniture amounted to $83 per unit, picking up by 51% against the previous year. Overall, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +7.4% 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 refrigerating or freezing equipment; parts thereof, other than furniture increased by +77.7% against 2019 indices. The export price peaked at $91 per unit in 2016; however, from 2017 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 Costa Rica ($100 per unit), while the average price for exports to the United States ($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 Costa Rica (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Panama
After two years of decline, supplies from abroad of refrigerating or freezing equipment; parts thereof, other than furniture increased by 42% to 178K units in 2022. Over the period under review, imports, however, continue to indicate a sharp contraction. Over the period under review, imports of hit record highs at 458K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, imports of refrigerating or freezing equipment; parts thereof, other than furniture surged to $13M in 2022. In general, imports, however, recorded a abrupt downturn. Over the period under review, imports of attained the peak figure at $19M in 2019; however, from 2020 to 2022, imports remained at a lower figure.
| Import of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Free Zones | 0.6 | 1.1 | 2.4 | 6.3 | 119.0% |
| United States | 7.9 | 8.2 | 1.7 | 2.5 | -31.9% |
| China | 2.5 | 1.4 | 1.0 | 1.0 | -26.3% |
| Mexico | 1.2 | 0.9 | 0.2 | 0.8 | -12.6% |
| Italy | 1.4 | 0.6 | 0.7 | 0.6 | -24.6% |
| Spain | 1.1 | 0.3 | 0.5 | 0.5 | -23.1% |
| Costa Rica | 0.6 | 0.2 | N/A | 0.1 | -45.0% |
| South Korea | 0.6 | 1.3 | N/A | 0.1 | -45.0% |
| Argentina | N/A | N/A | N/A | 0.1 | 0% |
| Singapore | 1.6 | 1.4 | N/A | N/A | -12.5% |
| Others | 1.4 | 2.0 | 0.5 | 1.3 | -2.4% |
| Total | 19.0 | 17.4 | 7.1 | 13.3 | -11.2% |
Top Suppliers of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture to Panama in 2022:
- Free Zones (41.5K units)
- United States (35.0K units)
- China (29.1K units)
- Italy (17.8K units)
- Mexico (17.0K units)
- Spain (15.4K units)
- Argentina (3.9K units)
- Costa Rica (2.0K units)
- South Korea (1.0K units)
Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Panama
In 2022, approx. 7.6K units of refrigerating or freezing equipment; parts thereof, other than furniture were exported from Panama; with a decrease of -55.8% on the year before. In general, exports continue to indicate a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 58%. Over the period under review, the exports of reached the maximum at 18K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, exports of refrigerating or freezing equipment; parts thereof, other than furniture shrank rapidly to $629K in 2022. Overall, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 50%. As a result, the exports reached the peak of $941K, and then reduced rapidly in the following year.
| Export of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Costa Rica | 196 | 203 | 199 | 165 | -5.6% |
| Ecuador | 11.3 | 21.4 | 105 | 95.3 | 103.6% |
| Jamaica | 18.6 | 56.3 | 94.5 | 94.1 | 71.7% |
| Guatemala | 233 | 217 | 223 | 79.7 | -30.1% |
| Aruba | 29.4 | 38.0 | 35.2 | 33.2 | 4.1% |
| Dominican Republic | 82.2 | 23.6 | 3.2 | 33.2 | -26.1% |
| United States | N/A | N/A | N/A | 20.4 | 0% |
| Honduras | 172 | 3.6 | 139 | N/A | -10.1% |
| Others | 81.4 | 65.5 | 141 | 108 | 9.9% |
| Total | 824 | 629 | 941 | 629 | -8.6% |
Top Export Markets for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture from Panama in 2022:
- Costa Rica (1648.0 units)
- Ecuador (1261.0 units)
- Jamaica (1206.0 units)
- Guatemala (853.0 units)
- Dominican Republic (483.0 units)
- United States (468.0 units)
- Aruba (360.0 units)
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