Motorcycle Tire Price in Panama - 2023
Contents:
- Motorcycle Tire Price in Panama (CIF) - 2022
- Motorcycle Tire Price in Panama (FOB) - 2022
- Motorcycle Tire Imports in Panama
- Motorcycle Tire Exports in Panama
Motorcycle Tire Price in Panama (CIF) - 2022
The average motorcycle tire import price stood at $29 per unit in 2022, increasing by 37% against the previous year. Over the period under review, the import price, however, showed a mild contraction. Over the period under review, average import prices hit record highs at $36 per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.
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 India ($42 per unit), while the price for Free Zones ($14 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Motorcycle Tire Price in Panama (FOB) - 2022
The average motorcycle tire export price stood at $24 per unit in 2022, reducing by -8.2% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 18% against the previous year. Over the period under review, the average export prices attained the peak figure at $30 per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($29 per unit), while the average price for exports to Nicaragua ($15 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 Honduras (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.
Motorcycle Tire Imports in Panama
In 2022, the amount of new pneumatic tyres for motorcycles imported into Panama rose remarkably to 23K units, with an increase of 9.6% compared with the previous year. Over the period under review, imports, however, recorded a significant contraction. Imports peaked at 69K units in 2020; however, from 2021 to 2022, imports remained at a lower figure.
In value terms, motorcycle tire imports skyrocketed to $672K in 2022. Overall, imports, however, faced a precipitous descent. Imports peaked at $2.2M in 2020; however, from 2021 to 2022, imports failed to regain momentum.
| Import of Motorcycle Tire in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,670 | 1,181 | 110 | 227 | -48.6% |
| Taiwan (Chinese) | 27.5 | 96.9 | 4.5 | 97.3 | 52.4% |
| Free Zones | 124 | 72.6 | 100 | 90.8 | -9.9% |
| Brazil | 40.4 | 102 | 27.6 | 88.9 | 30.1% |
| India | 49.1 | 48.5 | 15.2 | 77.4 | 16.4% |
| Spain | 9.8 | 10.9 | 3.0 | 21.1 | 29.1% |
| United States | 34.6 | 70.9 | 47.2 | 14.0 | -26.0% |
| Thailand | 5.0 | 18.4 | 17.6 | 9.0 | 21.6% |
| Vietnam | N/A | 590 | 34.8 | 3.6 | -92.2% |
| Chile | 33.8 | N/A | 53.1 | N/A | 25.3% |
| Others | 32.4 | 12.4 | 34.7 | 42.6 | 9.6% |
| Total | 2,027 | 2,204 | 448 | 672 | -30.8% |
Top Suppliers of Motorcycle Tire to Panama in 2022:
- Free Zones (6.4K units)
- China (5.4K units)
- Brazil (4.5K units)
- Taiwan (Chinese) (2.3K units)
- India (1.9K units)
- Thailand (0.5K units)
- Spain (0.5K units)
- United States (0.3K units)
- Vietnam (0.1K units)
Motorcycle Tire Exports in Panama
In 2022, approx. 4.1K units of new pneumatic tyres for motorcycles were exported from Panama; which is down by -90% compared with 2021 figures. In general, exports saw a dramatic decrease. The smallest decline of -6.6% was in 2020. Over the period under review, the exports hit record highs at 75K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, motorcycle tire exports dropped significantly to $100K in 2022. Overall, exports faced a dramatic setback. The smallest decline of -8% was in 2020. The exports peaked at $2.2M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
| Export of Motorcycle Tire in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Haiti | 639 | 676 | 329 | 29.8 | -64.0% |
| Cuba | 684 | 535 | 260 | 24.6 | -67.0% |
| Nicaragua | 271 | 167 | 107 | 9.7 | -67.0% |
| Venezuela | 173 | 209 | 102 | 9.2 | -62.4% |
| Colombia | 96.7 | 63.7 | 54.7 | 5.0 | -62.7% |
| United States | 8.4 | 112 | 54.3 | 4.9 | -16.4% |
| Honduras | 24.6 | 90.6 | 44.1 | 4.0 | -45.4% |
| Guyana | 57.8 | 61.2 | 29.8 | 2.7 | -64.0% |
| Dominican Republic | 64.5 | 25.8 | 15.2 | 1.7 | -70.2% |
| Others | 228 | 128 | 87.5 | 8.0 | -67.3% |
| Total | 2,247 | 2,067 | 1,083 | 99.6 | -64.6% |
Top Export Markets for Motorcycle Tire from Panama in 2022:
- Haiti (1046.0 units)
- Cuba (863.0 units)
- Nicaragua (649.0 units)
- Venezuela (323.0 units)
- Colombia (316.0 units)
- United States (173.0 units)
- Honduras (140.0 units)
- Guyana (95.0 units)
- Dominican Republic (54.0 units)
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