Panama - Mobile Phones - Market Analysis, Forecast, Size, Trends And Insights
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View PricingMobile Phone Price in Panama - 2023
Contents:
- Mobile Phone Price in Panama (CIF) - 2023
- Mobile Phone Price in Panama (FOB) - 2022
- Mobile Phone Imports in Panama
- Mobile Phone Exports in Panama
Mobile Phone Price in Panama (CIF) - 2023
In September 2023, the average mobile phone import price amounted to $200 per unit, growing by 5.9% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in July 2023 an increase of 14% month-to-month. Over the period under review, average import prices hit record highs at $229 per unit in December 2022; however, from January 2023 to September 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Free Zones ($277 per unit), while the price for the United States ($167 per unit) was amongst the lowest.
From November 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Free Zones (+2.7%), while the prices for the other major suppliers experienced a decline.
Mobile Phone Price in Panama (FOB) - 2022
The average mobile phone export price stood at $172 per unit in 2022, falling by -6.9% against the previous year. Overall, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mobile phone export price decreased by -14.5% against 2019 indices. The growth pace was the most rapid in 2019 when the average export price increased by 68% against the previous year. As a result, the export price attained the peak level of $201 per unit. From 2020 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 Costa Rica ($285 per unit), while the average price for exports to Trinidad and Tobago ($104 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 (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.
Mobile Phone Imports in Panama
For the third year in a row, Panama recorded decline in purchases abroad of mobile phones, which decreased by -11.4% to 393K units in 2022. In general, imports saw a precipitous setback. Over the period under review, imports attained the maximum at 1.7M units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, mobile phone imports declined to $96M in 2022. Overall, imports showed a sharp downturn. The smallest decline of -2.3% was in 2020. Over the period under review, imports hit record highs at $358M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Mobile Phone in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Free Zones | 30.3 | 30.4 | 35.4 | 46.1 | 15.0% |
| China | 86.3 | 18.3 | 30.7 | 22.6 | -36.0% |
| United States | 42.4 | 104 | 28.6 | 22.5 | -19.0% |
| Vietnam | 99.2 | 44.8 | 12.6 | 2.4 | -71.1% |
| Hong Kong SAR | 69.6 | 61.2 | 1.1 | 1.7 | -71.0% |
| South Korea | 28.0 | 85.2 | 0.5 | 0.5 | -73.9% |
| Others | 1.9 | 5.8 | 0.4 | 0.6 | -31.9% |
| Total | 358 | 350 | 109 | 96.4 | -35.4% |
Top Suppliers of Mobile Phone to Panama in 2022:
- Free Zones (186.8K units)
- United States (96.0K units)
- China (85.2K units)
- Vietnam (11.8K units)
- Hong Kong SAR (8.6K units)
- South Korea (2.0K units)
Mobile Phone Exports in Panama
In 2022, overseas shipments of mobile phones decreased by -53.4% to 33K units, falling for the second year in a row after two years of growth. Overall, exports continue to indicate a precipitous slump. The pace of growth appeared the most rapid in 2020 when exports increased by 75%. As a result, the exports reached the peak of 187K units. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, mobile phone exports fell rapidly to $5.6M in 2022. In general, exports saw a dramatic curtailment. The growth pace was the most rapid in 2020 with an increase of 72%. As a result, the exports attained the peak of $37M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Mobile Phone in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Costa Rica | 5.6 | 8.2 | 2.8 | 2.8 | -20.6% |
| United States | 3.3 | 3.4 | 0.5 | 2.1 | -14.0% |
| France | N/A | N/A | N/A | 0.4 | 0% |
| Trinidad and Tobago | N/A | N/A | N/A | 0.1 | 0% |
| Ecuador | N/A | 1.3 | 1.1 | 0.1 | -72.3% |
| Paraguay | 2.0 | N/A | N/A | N/A | 0% |
| Chile | 0.4 | 0.3 | 0.5 | N/A | 11.8% |
| Guatemala | 9.7 | 22.6 | 7.0 | N/A | -15.1% |
| Others | 0.3 | 1.1 | 0.8 | 0.2 | -12.6% |
| Total | 21.4 | 36.8 | 12.9 | 5.6 | -36.0% |
Top Export Markets for Mobile Phone from Panama in 2022:
- United States (18.0K units)
- Costa Rica (9.7K units)
- France (2.4K units)
- Ecuador (0.8K units)
- Trinidad and Tobago (0.6K units)
- Chile (0.1K units)
This report provides an in-depth analysis of the mobile phone market in Panama. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26302200 - Telephones for cellular networks or for other wireless networks
Country coverage:
- Panama
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Panama
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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