Price for Machinery; Parts of Machinery of Heading No. 8422 in Panama - 2023

Contents:

1. Price for Machinery; Parts of Machinery of Heading No. 8422 in Panama (CIF) - 2023
2. Price for Machinery; Parts of Machinery of Heading No. 8422 in Panama (FOB) - 2022
3. Imports of Machinery; Parts of Machinery of Heading No. 8422 in Panama
4. Exports of Machinery; Parts of Machinery of Heading No. 8422 in Panama

Price for Machinery; Parts of Machinery of Heading No. 8422 in Panama (CIF) - 2023

In November 2023, the average import price for machinery; parts of machinery of heading no. 8422 amounted to $122K per ton, growing by 139% against the previous month. In general, the import price showed a buoyant expansion. The pace of growth appeared the most rapid in December 2022 when the average import price increased by 975% month-to-month. As a result, import price attained the peak level of $163K per ton. From January 2023 to November 2023, the average import prices remained at a somewhat 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 Germany ($140K per ton), while the price for Costa Rica ($23,336 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Brazil (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Machinery; Parts of Machinery of Heading No. 8422 in Panama (FOB) - 2022

In 2022, the average export price for machinery; parts of machinery of heading no. 8422 amounted to $88,154 per ton, reducing by -2.1% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 72% against the previous year. Over the period under review, the average export prices reached the peak figure at $101,862 per ton in 2019; however, from 2020 to 2022, the 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 ($297,455 per ton), while the average price for exports to Peru ($11,738 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 Venezuela (+25.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machinery; Parts of Machinery of Heading No. 8422 in Panama

In 2022, overseas purchases of machinery; parts of machinery of heading no. 8422 increased by 175% to 159 tons for the first time since 2019, thus ending a two-year declining trend. In general, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of machinery; parts of machinery of heading no. 8422 surged to $5.6M in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern.

Top Suppliers of Machinery; Parts of Machinery of Heading No. 8422 to Panama in 2022:

1. Ecuador (101.7 tons)
2. United States (10.4 tons)
3. Free Zones (9.5 tons)
4. China (8.3 tons)
5. Italy (7.5 tons)
6. Mexico (6.2 tons)
7. Germany (5.6 tons)
8. Brazil (2.1 tons)
9. Spain (1.5 tons)
10. Costa Rica (1.3 tons)
11. Colombia (1.1 tons)
12. Argentina (0.4 tons)
13. Japan (0.1 tons)

Exports of Machinery; Parts of Machinery of Heading No. 8422 in Panama

In 2022, the amount of machinery; parts of machinery of heading no. 8422 exported from Panama amounted to 8.6 tons, with an increase of 3.9% against the previous year. Over the period under review, exports, however, showed a deep downturn. The pace of growth was the most pronounced in 2020 when exports increased by 12%. As a result, the exports attained the peak of 12 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of machinery; parts of machinery of heading no. 8422 rose slightly to $762K in 2022. In general, exports, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2020 with an increase of 5.9%. As a result, the exports reached the peak of $1.1M. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Top Export Markets for Machinery; Parts of Machinery of Heading No. 8422 from Panama in 2022:

1. Guatemala (4.5 tons)
2. Jamaica (1.9 tons)
3. Peru (1.2 tons)
4. Chile (0.4 tons)
5. Sweden (0.4 tons)
6. Costa Rica (0.1 tons)

Source: IndexBox Market Intelligence Platform