Price for Chain and Parts Thereof, of Iron or Steel in Panama - 2024
Contents:
- Price for Chain and Parts Thereof, of Iron or Steel in Panama (CIF) - 2024
- Price for Chain and Parts Thereof, of Iron or Steel in Panama (FOB) - 2022
- Imports of Chain and Parts Thereof, of Iron or Steel in Panama
- Exports of Chain and Parts Thereof, of Iron or Steel in Panama
Price for Chain and Parts Thereof, of Iron or Steel in Panama (CIF) - 2024
The average import price for chain and parts thereof, of iron or steel stood at $7,606 per ton in November 2023, picking up by 25% against the previous month. Over the period from January 2023 to November 2023, it increased at an average monthly rate of +2.0%. The pace of growth was the most pronounced in July 2023 when the average import price increased by 36% m-o-m. The import price peaked at $8,565 per ton in April 2023; however, from May 2023 to November 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was the United States ($15,841 per ton), while the price for Ecuador ($590 per ton) was amongst the lowest.
From January 2023 to November 2023, the most notable rate of growth in terms of prices was attained by South Korea (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Chain and Parts Thereof, of Iron or Steel in Panama (FOB) - 2022
In 2022, the average export price for chain and parts thereof, of iron or steel amounted to $4,281 per ton, growing by 28% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2014 when the average export price increased by 52% against the previous year. As a result, the export price reached the peak level of $4,325 per ton; afterwards, it flattened through to 2022.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($5,724 per ton), while the average price for exports to Norway ($299 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 Belize (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Chain and Parts Thereof, of Iron or Steel in Panama
Imports of chain and parts thereof, of iron or steel into Panama shrank to 939 tons in 2022, reducing by -7.9% on 2021 figures. Overall, imports showed a mild setback. The most prominent rate of growth was recorded in 2021 when imports increased by 10% against the previous year. As a result, imports attained the peak of 1K tons, and then declined in the following year.
In value terms, imports of chain and parts thereof, of iron or steel rose significantly to $6.7M in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 11%. Imports peaked in 2022 and are likely to see steady growth in the near future.
| Import of Chain and Parts Thereof, of Iron or Steel in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 978 | 744 | 2,325 | 2,990 | 45.1% |
| Free Zones | 975 | 944 | 1,626 | 1,523 | 16.0% |
| China | 2,382 | 1,936 | 911 | 762 | -31.6% |
| South Korea | 156 | 143 | 41.3 | 231 | 14.0% |
| Germany | 311 | 533 | 82.3 | 219 | -11.0% |
| Italy | 70.3 | 22.7 | 182 | 75.1 | 2.2% |
| France | 311 | 140 | 235 | 47.0 | -46.7% |
| Others | 1,551 | 1,031 | 713 | 901 | -16.6% |
| Total | 6,735 | 5,494 | 6,115 | 6,748 | 0.1% |
Top Suppliers of Chain and Parts Thereof, of Iron or Steel to Panama in 2022:
- United States (295.9 tons)
- Free Zones (259.9 tons)
- China (219.8 tons)
- South Korea (52.6 tons)
- Germany (10.6 tons)
- Italy (9.5 tons)
- France (5.3 tons)
Exports of Chain and Parts Thereof, of Iron or Steel in Panama
Exports of chain and parts thereof, of iron or steel from Panama dropped rapidly to 86 tons in 2022, declining by -35.6% on 2021 figures. Overall, exports recorded a precipitous setback. The pace of growth was the most pronounced in 2021 with an increase of 52%.
In value terms, exports of chain and parts thereof, of iron or steel contracted significantly to $314K in 2022. In general, exports recorded a sharp curtailment. The growth pace was the most rapid in 2021 when exports increased by 29% against the previous year.
| Export of Chain and Parts Thereof, of Iron or Steel in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Costa Rica | 124 | 104 | 125 | 129 | 1.3% |
| Guatemala | 157 | 142 | 156 | 53.5 | -30.2% |
| Ecuador | 12.5 | 21.5 | 38.0 | 53.4 | 62.3% |
| Belize | 35.6 | 16.2 | 28.6 | 36.4 | 0.7% |
| Jamaica | 28.5 | 11.6 | 6.2 | 19.3 | -12.2% |
| Norway | N/A | N/A | 3.0 | 0.4 | -86.7% |
| Colombia | 6.3 | N/A | 9.7 | 0.1 | -74.9% |
| Netherlands | 397 | N/A | 0.2 | N/A | -97.8% |
| Others | 45.5 | 51.2 | 82.0 | 22.2 | -21.3% |
| Total | 806 | 347 | 449 | 314 | -27.0% |
Top Export Markets for Chain and Parts Thereof, of Iron or Steel from Panama in 2022:
- Costa Rica (23.4 tons)
- Belize (22.1 tons)
- Ecuador (20.0 tons)
- Guatemala (9.3 tons)
- Jamaica (4.8 tons)
- Norway (1.4 tons)
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