Price for Musical Instruments; Wind, Brass (Eg Trumpets) in Panama - 2023

Price for Musical Instruments; Wind, Brass (Eg Trumpets) in Panama (CIF) - 2022

In 2022, the average import price for musical instruments; wind, brass (eg trumpets) amounted to $676 per unit, which is down by -4.6% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 10% against the previous year. As a result, import price attained the peak level of $740 per unit. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Free Zones ($691 per unit), while the price for Venezuela ($330 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+30.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Musical Instruments; Wind, Brass (Eg Trumpets) in Panama (FOB) - 2022

In 2022, the average export price for musical instruments; wind, brass (eg trumpets) amounted to $67 per unit, growing by 15% against the previous year. Overall, the export price, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2016 an increase of 3,039%. Over the period under review, the average export prices attained the maximum at $867 per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Chile.

From 2012 to 2022, the rate of growth in terms of prices for Costa Rica amounted to +1.0% per year.

Imports of Musical Instruments; Wind, Brass (Eg Trumpets) in Panama

In 2022, supplies from abroad of musical instruments; wind, brass (eg trumpets) was finally on the rise to reach 130 units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a significant contraction. Over the period under review, imports of hit record highs at 2.2K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of musical instruments; wind, brass (eg trumpets) skyrocketed to $88K in 2022. Overall, imports, however, continue to indicate a sharp shrinkage. Imports peaked at $1.6M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Import of Musical Instruments; Wind, Brass (Eg Trumpets) in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Free Zones	114	51.0	18.6	66.4	-16.5%
China	315	186	2.0	18.5	-61.1%
United States	17.1	6.5	4.2	1.8	-52.8%
Venezuela	N/A	N/A	N/A	1.3	0%
Japan	556	493	N/A	N/A	-11.3%
Malaysia	395	264	N/A	N/A	-33.2%
Indonesia	142	159	N/A	N/A	12.0%
Others	34.5	7.9	N/A	N/A	-77.1%
Total	1,573	1,167	24.8	87.9	-61.8%

Top Suppliers of Musical Instruments; Wind, Brass (Eg Trumpets) to Panama in 2022:

Free Zones (96.0 units)
China (27.0 units)
Venezuela (4.0 units)
United States (3.0 units)

Exports of Musical Instruments; Wind, Brass (Eg Trumpets) in Panama

In 2022, exports of musical instruments; wind, brass (eg trumpets) from Panama fell markedly to 1.3K units, dropping by -52.1% against the year before. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 135% against the previous year. As a result, the exports attained the peak of 2.6K units, and then fell dramatically in the following year.

In value terms, exports of musical instruments; wind, brass (eg trumpets) declined notably to $85K in 2022. In general, exports saw a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 63%. As a result, the exports attained the peak of $155K, and then fell dramatically in the following year.