Pumps; Parts Thereof Price in Panama - 2023
Contents:
- Pumps; Parts Thereof Price in Panama (CIF) - 2022
- Pumps; Parts Thereof Price in Panama (FOB) - 2022
- Pumps; Parts Thereof Imports in Panama
- Pumps; Parts Thereof Exports in Panama
Pumps; Parts Thereof Price in Panama (CIF) - 2022
In 2022, the average pumps; parts thereof import price amounted to $17,861 per ton, declining by -20.2% against the previous year. Overall, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average import price increased by 94%. Over the period under review, average import prices attained the maximum at $25,791 per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat 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 Free Zones ($64,835 per ton), while the price for China ($10,491 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Pumps; Parts Thereof Price in Panama (FOB) - 2022
In 2022, the average pumps; parts thereof export price amounted to $42,904 per ton, remaining constant against the previous year. In general, the export price recorded strong growth. The most prominent rate of growth was recorded in 2013 an increase of 116%. Over the period under review, the average export prices hit record highs at $49,384 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat 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 Nicaragua ($44,191 per ton), while the average price for exports to Cuba ($26,162 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 Jamaica (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.
Pumps; Parts Thereof Imports in Panama
Pumps; parts thereof imports into Panama reached 1K tons in 2022, flattening at 2021. The total import volume increased at an average annual rate of +3.7% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2020 when imports increased by 23%. As a result, imports attained the peak of 1.1K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, pumps; parts thereof imports fell significantly to $18M in 2022. Overall, imports, however, continue to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2020 with an increase of 23%. As a result, imports reached the peak of $25M. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Pumps; Parts Thereof in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 8.1 | 14.8 | 16.2 | 12.2 | 14.6% |
| Free Zones | 2.7 | 4.6 | 4.1 | 2.7 | 0.0% |
| South Africa | 0.2 | N/A | N/A | 0.6 | 44.2% |
| Australia | 3.3 | 0.8 | 0.3 | 0.5 | -46.7% |
| China | 1.6 | 0.5 | 0.2 | 0.3 | -42.8% |
| Others | 4.1 | 3.9 | 1.9 | 1.9 | -22.6% |
| Total | 20.0 | 24.7 | 22.6 | 18.1 | -3.3% |
Top Suppliers of Pumps; Parts Thereof to Panama in 2022:
- United States (848.6 tons)
- Free Zones (42.4 tons)
- China (24.4 tons)
- Australia (23.5 tons)
- South Africa (16.9 tons)
Pumps; Parts Thereof Exports in Panama
In 2022, overseas shipments of pumps; parts thereoves decreased by 0% to 14 tons, falling for the second year in a row after two years of growth. Overall, exports showed a deep setback. The pace of growth was the most pronounced in 2020 when exports increased by 3.9%. As a result, the exports attained the peak of 29 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, pumps; parts thereof exports stood at $617K in 2022. In general, exports recorded a dramatic decline. The smallest decline of -7.5% was in 2020.
| Export of Pumps; Parts Thereof in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Venezuela | 124 | 570 | N/A | 229 | 22.7% |
| Nicaragua | 56.5 | 118 | N/A | 47.6 | -5.6% |
| Colombia | 81.2 | 50.1 | N/A | 31.9 | -26.8% |
| Dominican Republic | 32.1 | 68.1 | N/A | 27.4 | -5.1% |
| Trinidad and Tobago | 146 | 2.6 | N/A | 26.3 | -43.5% |
| United States | 38.1 | 19.1 | N/A | 20.2 | -19.1% |
| Cuba | 53.0 | 9.3 | N/A | 17.9 | -30.4% |
| Honduras | 52.8 | 11.8 | N/A | 11.9 | -39.1% |
| Others | 750 | 384 | N/A | 204 | -35.2% |
| Total | 1,333 | 1,233 | N/A | 617 | -22.6% |
Top Export Markets for Pumps; Parts Thereof from Panama in 2022:
- Venezuela (7.8 tons)
- Nicaragua (1.1 tons)
- Colombia (1.1 tons)
- Trinidad and Tobago (0.9 tons)
- Cuba (0.7 tons)
- Dominican Republic (0.6 tons)
- United States (0.5 tons)
- Honduras (0.3 tons)
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