Gold Price in Panama - 2023
Contents:
- Gold Price in Panama (FOB) - 2022
- Gold Price in Panama (CIF) - 2022
- Gold Exports in Panama
- Gold Imports in Panama
Gold Price in Panama (FOB) - 2022
In 2022, the average gold export price amounted to $39,941,788 per ton, falling by -1.5% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 28% against the previous year. As a result, the export price reached the peak level of $54,260 per kg. From 2021 to 2022, the average export prices remained at a lower figure.
Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($41,000,000 per ton), while the average price for exports to Switzerland totaled $39,933,710 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+13.5%), while the prices for the other major destinations experienced mixed trend patterns.
Gold Price in Panama (CIF) - 2022
The average gold import price stood at $25,654,684 per ton in 2022, rising by 4.2% against the previous year. Overall, the import price, however, recorded a noticeable decrease. The pace of growth appeared the most rapid in 2019 when the average import price increased by 15% against the previous year. As a result, import price reached the peak level of $42,382 per kg. From 2020 to 2022, the average import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($47,283,222 per ton), while the price for Switzerland ($5,231,125 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+39.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Gold Exports in Panama
For the third year in a row, Panama recorded decline in overseas shipments of gold, which decreased by -11.1% to 264 kg in 2022. Over the period under review, exports showed a precipitous contraction.
In value terms, gold exports fell to $11M in 2022. Overall, exports recorded a dramatic curtailment.
| Export of Gold in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 18.6 | 0.1 | 11.3 | 10.5 | -17.4% |
| United States | 16.6 | 11.5 | 0.7 | 0.1 | -81.8% |
| Italy | 25.4 | 17.0 | N/A | N/A | -33.1% |
| Others | 0.9 | 2.3 | N/A | N/A | 155.6% |
| Total | 61.5 | 30.8 | 12.0 | 10.5 | -44.5% |
Top Export Markets for Gold from Panama in 2022:
- Switzerland (262.0 kg)
- United States (2.0 kg)
Gold Imports in Panama
In 2022, the amount of gold imported into Panama skyrocketed to 117 kg, growing by 48% against 2021 figures. Over the period under review, imports, however, continue to indicate a sharp descent.
In value terms, gold imports surged to $3M in 2022. Overall, imports, however, continue to indicate a sharp curtailment.
| Import of Gold in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1.3 | 0.6 | 1.5 | 1.9 | 13.5% |
| Free Zones | 0.4 | N/A | N/A | 0.5 | 7.7% |
| Canada | N/A | N/A | N/A | 0.4 | 0% |
| Ecuador | 0.7 | N/A | N/A | N/A | 0% |
| Venezuela | 0.7 | 0.4 | N/A | N/A | -42.9% |
| Switzerland | N/A | N/A | N/A | N/A | 0% |
| Colombia | 14.5 | N/A | N/A | N/A | 0% |
| Vietnam | N/A | N/A | N/A | N/A | 0% |
| Chile | 0.9 | N/A | N/A | N/A | 0% |
| Curacao | 1.2 | 0.2 | N/A | N/A | -83.3% |
| Others | 1.3 | 0.5 | 0.4 | 0.1 | -57.5% |
| Total | 20.9 | 1.7 | 1.9 | 3.0 | -47.6% |
Top Suppliers of Gold to Panama in 2022:
- United States (77.0 kg)
- Free Zones (33.0 kg)
- Canada (9.0 kg)
- Switzerland (8.0 kg)
- Vietnam (3.0 kg)
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