Price for Textiles; Worn Clothing and Other Worn Articles in Panama - 2023

Contents:

1. Price for Textiles; Worn Clothing and Other Worn Articles in Panama (CIF) - 2023
2. Price for Textiles; Worn Clothing and Other Worn Articles in Panama (FOB) - 2022
3. Imports of Textiles; Worn Clothing and Other Worn Articles in Panama
4. Exports of Textiles; Worn Clothing and Other Worn Articles in Panama

Price for Textiles; Worn Clothing and Other Worn Articles in Panama (CIF) - 2023

In November 2023, the average import price for textiles; worn clothing and other worn articleses amounted to $1,772 per ton, rising by 42% against the previous month. Overall, import price indicated a mild expansion from November 2022 to November 2023: its price increased at an average monthly rate of +1.0% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, import price for textiles; worn clothing and other worn articleses increased by +42.1% against October 2023 indices. Over the period under review, average import prices hit record highs at $2,115 per ton in January 2023; however, from February 2023 to November 2023, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From November 2022 to November 2023, the rate of growth in terms of prices for Honduras amounted to +5.7% per month.

Price for Textiles; Worn Clothing and Other Worn Articles in Panama (FOB) - 2022

The average export price for textiles; worn clothing and other worn articleses stood at $4,409 per ton in 2022, shrinking by -5.1% against the previous year. Over the period under review, the export price, however, posted a resilient increase. The pace of growth was the most pronounced in 2017 when the average export price increased by 461%. As a result, the export price reached the peak level of $11,874 per ton. From 2018 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($17,913 per ton), while the average price for exports to Angola ($765 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 Mozambique (+95.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Textiles; Worn Clothing and Other Worn Articles in Panama

In 2022, the amount of textiles; worn clothing and other worn articleses imported into Panama skyrocketed to 4.4K tons, picking up by 16% on 2021. Overall, imports posted buoyant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 109% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, imports of textiles; worn clothing and other worn articleses surged to $6.9M in 2022. In general, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of 164% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

Top Suppliers of Textiles; Worn Clothing and Other Worn Articles to Panama in 2022:

1. United States (3577.4 tons)
2. Honduras (236.8 tons)
3. Free Zones (170.2 tons)
4. Dominican Republic (141.4 tons)
5. Canada (74.4 tons)
6. Nicaragua (72.3 tons)

Exports of Textiles; Worn Clothing and Other Worn Articles in Panama

After three years of growth, overseas shipments of textiles; worn clothing and other worn articleses decreased by -5.8% to 226 tons in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 166% against the previous year.

In value terms, exports of textiles; worn clothing and other worn articleses shrank to $995K in 2022. In general, exports, however, saw significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 412% against the previous year.

Top Export Markets for Textiles; Worn Clothing and Other Worn Articles from Panama in 2022:

1. Nicaragua (111.2 tons)
2. Chile (36.5 tons)
3. Angola (26.2 tons)
4. Israel (19.8 tons)
5. Guatemala (15.6 tons)
6. South Korea (7.2 tons)
7. Thailand (1.1 tons)

Source: IndexBox Market Intelligence Platform