Silver Jewelry Price in Panama - 2023
Contents:
- Silver Jewelry Price in Panama (CIF) - 2022
- Silver Jewelry Price in Panama (FOB) - 2022
- Silver Jewelry Imports in Panama
- Silver Jewelry Exports in Panama
Silver Jewelry Price in Panama (CIF) - 2022
The average silver jewelry import price stood at $474,302 per ton in 2022, increasing by 11% against the previous year. In general, the import price, however, continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when the average import price increased by 27% against the previous year. The import price peaked at $1,107,883 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($1,097,717 per ton), while the price for Hong Kong SAR ($112,000 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+15.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Silver Jewelry Price in Panama (FOB) - 2022
In 2022, the average silver jewelry export price amounted to $398,168 per ton, declining by -24.2% against the previous year. Overall, the export price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 25%. The export price peaked at $815,200 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($1,389,856 per ton), while the average price for exports to Costa Rica ($149,206 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 Chile (+2.7%), while the prices for the other major destinations experienced mixed trend patterns.
Silver Jewelry Imports in Panama
In 2022, silver jewelry imports into Panama fell to 1.5 tons, with a decrease of -12% compared with the year before. Overall, imports faced a deep setback.
In value terms, silver jewelry imports fell modestly to $693K in 2022. Over the period under review, imports saw a mild descent.
| Import of Silver Jewelry in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| China | 144 | 187 | 29.9% | ||
| United States | 291 | 160 | -45.0% | ||
| Spain | 93.2 | 116 | 24.5% | ||
| Italy | 56.2 | 81.2 | 44.5% | ||
| Thailand | 0.2 | 74.5 | 37150.0% | ||
| Free Zones | 58.3 | 22.6 | -61.2% | ||
| India | 25.1 | 19.3 | -23.1% | ||
| Germany | 13.9 | 8.7 | -37.4% | ||
| Others | 25.0 | 23.2 | -7.2% | ||
| Total | 707 | 693 | -2.0% | ||
Top Suppliers of Silver Jewelry to Panama in 2022:
- China (481.0 kg)
- United States (339.0 kg)
- Italy (200.0 kg)
- Thailand (157.0 kg)
- Spain (106.0 kg)
- Free Zones (84.0 kg)
- Germany (25.0 kg)
- India (22.0 kg)
Silver Jewelry Exports in Panama
Silver jewelry exports from Panama soared to 9 tons in 2022, growing by 32% on the year before. Overall, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +6.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.4% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, silver jewelry exports totaled $3.6M in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 0.8%. As a result, the exports reached the peak of $3.6M; afterwards, it flattened through to 2022.
| Export of Silver Jewelry in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Guatemala | 2,249 | 2,281 | 1,455 | 1,417 | -14.3% |
| Chile | 738 | 772 | 1,717 | 888 | 6.4% |
| Colombia | 37.4 | 174 | 22.1 | 396 | 119.6% |
| Costa Rica | 122 | 30.1 | 122 | 207 | 19.3% |
| Ecuador | 16.7 | 6.5 | 35.1 | 109 | 86.9% |
| Bolivia | 47.9 | 12.2 | 48.6 | 108 | 31.1% |
| Others | 361 | 326 | 188 | 469 | 9.1% |
| Total | 3,574 | 3,601 | 3,587 | 3,594 | 0.2% |
Top Export Markets for Silver Jewelry from Panama in 2022:
- Guatemala (5.2 tons)
- Costa Rica (1.4 tons)
- Chile (0.8 tons)
- Bolivia (0.7 tons)
- Colombia (0.3 tons)
- Ecuador (0.3 tons)
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