Price for Lubricating Preparations Not for the Treatment of Materials in Panama - 2023
Contents:
- Price for Lubricating Preparations Not for the Treatment of Materials in Panama (CIF) - 2023
- Price for Lubricating Preparations Not for the Treatment of Materials in Panama (FOB) - 2022
- Imports of Lubricating Preparations Not for the Treatment of Materials in Panama
- Exports of Lubricating Preparations Not for the Treatment of Materials in Panama
Price for Lubricating Preparations Not for the Treatment of Materials in Panama (CIF) - 2023
In September 2023, the average import price for lubricating preparations not for the treatment of materials amounted to $4,043 per ton, falling by -2.6% against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2022 when the average import price increased by 18% against the previous month. Over the period under review, average import prices attained the peak figure at $4,986 per ton in November 2022; however, from December 2022 to September 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Free Zones ($8,731 per ton), while the price for Saudi Arabia ($1,079 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Free Zones (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Lubricating Preparations Not for the Treatment of Materials in Panama (FOB) - 2022
In 2022, the average export price for lubricating preparations not for the treatment of materials amounted to $4,544 per ton, which is down by -5.1% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average export price increased by 21%. As a result, the export price reached the peak level of $5,384 per ton. From 2016 to 2022, the average export prices remained at a lower figure.
Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Costa Rica ($5,903 per ton) and Venezuela ($5,496 per ton), while the average price for exports to El Salvador ($4,354 per ton) and the United States ($4,822 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Lubricating Preparations Not for the Treatment of Materials in Panama
In 2022, imports of lubricating preparations not for the treatment of materials into Panama skyrocketed to 10K tons, jumping by 22% on the previous year's figure. In general, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +8.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +79.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 48% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, imports of lubricating preparations not for the treatment of materials surged to $45M in 2022. Over the period under review, imports recorded resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 51% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.
| Import of Lubricating Preparations Not for the Treatment of Materials in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 19.8 | 13.5 | 20.5 | 25.6 | 8.9% |
| Free Zones | 2.5 | 3.0 | 3.4 | 5.3 | 28.5% |
| France | 1.6 | 1.4 | 2.8 | 4.1 | 36.8% |
| South Korea | 1.1 | 1.2 | 2.0 | 3.6 | 48.5% |
| Singapore | N/A | N/A | N/A | 1.5 | 0% |
| Italy | 0.3 | 0.3 | 0.9 | 0.7 | 32.6% |
| Saudi Arabia | N/A | N/A | N/A | 0.4 | 0% |
| Spain | 1.6 | 0.2 | 0.2 | 0.4 | -37.0% |
| Others | 3.6 | 1.9 | 2.6 | 3.9 | 2.7% |
| Total | 30.5 | 21.5 | 32.4 | 45.5 | 14.3% |
Top Suppliers of Lubricating Preparations Not for the Treatment of Materials to Panama in 2022:
- United States (5.1K tons)
- France (1.3K tons)
- South Korea (1.3K tons)
- Free Zones (0.9K tons)
- Singapore (0.5K tons)
- Saudi Arabia (0.2K tons)
- Italy (0.2K tons)
- Spain (0.1K tons)
Exports of Lubricating Preparations Not for the Treatment of Materials in Panama
In 2022, the amount of lubricating preparations not for the treatment of materials exported from Panama surged to 191 tons, rising by 28% against 2021. Overall, exports, however, faced a deep contraction.
In value terms, exports of lubricating preparations not for the treatment of materials soared to $868K in 2022. In general, exports, however, continue to indicate a abrupt decline.
| Export of Lubricating Preparations Not for the Treatment of Materials in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Colombia | 285 | 57.1 | 90.7 | 107 | -27.9% |
| Costa Rica | 21.7 | 192 | 79.1 | 93.6 | 62.8% |
| Venezuela | 148 | 59.9 | 40.4 | 56.4 | -27.5% |
| Guatemala | 74.9 | 82.0 | 46.8 | 55.5 | -9.5% |
| Peru | 18.3 | 54.6 | 24.6 | 29.2 | 16.9% |
| El Salvador | 74.3 | 17.3 | 18.3 | 25.5 | -30.0% |
| Ecuador | 26.8 | 46.0 | 18.9 | 22.4 | -5.8% |
| Honduras | 47.7 | 11.4 | 10.8 | 16.0 | -30.5% |
| Nicaragua | 29.0 | 9.1 | 7.2 | 10.4 | -29.0% |
| Chile | 19.7 | 4.7 | 8.5 | 10.0 | -20.2% |
| Guyana | 21.1 | 8.8 | 5.2 | 7.9 | -27.9% |
| Cuba | 51.0 | N/A | N/A | N/A | 0% |
| Others | 410 | 887 | 365 | 434 | 1.9% |
| Total | 1,228 | 1,430 | 716 | 868 | -10.9% |
Top Export Markets for Lubricating Preparations Not for the Treatment of Materials from Panama in 2022:
- Colombia (21.9 tons)
- Costa Rica (15.9 tons)
- Guatemala (10.6 tons)
- Venezuela (10.3 tons)
- El Salvador (5.9 tons)
- Peru (5.4 tons)
- Ecuador (4.5 tons)
- Honduras (2.6 tons)
- Chile (2.2 tons)
- Nicaragua (2.0 tons)
- Guyana (1.6 tons)
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This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in Panama.
641
This report provides an in-depth analysis of the global market for petroleum lubricating oil and grease.
136
This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in Panama.
641
This report provides an in-depth analysis of the global market for petroleum lubricating oil and grease.
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