Panama - Articles Of Iron Or Steel - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Steel and Iron Articles in Panama - 2023
Contents:
- Price for Steel and Iron Articles in Panama (CIF) - 2023
- Price for Steel and Iron Articles in Panama (FOB) - 2022
- Imports of Steel and Iron Articles in Panama
- Exports of Steel and Iron Articles in Panama
Price for Steel and Iron Articles in Panama (CIF) - 2023
The average steel and iron articles import price stood at $9,544 per ton in July 2023, with a decrease of -23.7% against the previous month. Overall, the import price, however, recorded a temperate increase. The growth pace was the most rapid in May 2023 when the average import price increased by 29% against the previous month. The import price peaked at $12,516 per ton in June 2023, and then declined notably in the following month.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was South Korea ($24,215 per ton), while the price for Colombia ($2,981 per ton) was amongst the lowest.
From September 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Free Zones (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Steel and Iron Articles in Panama (FOB) - 2022
In 2022, the average steel and iron articles export price amounted to $3,626 per ton, declining by -13.6% against the previous year. Over the period under review, the export price showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when the average export price increased by 12% against the previous year. Over the period under review, the average export prices attained the maximum at $6,758 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($7,474 per ton), while the average price for exports to the United States ($1,681 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 Colombia (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Steel and Iron Articles in Panama
Steel and iron articles imports into Panama was estimated at 5.3K tons in 2022, increasing by 12% against 2021. Overall, imports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2021 when imports increased by 21%.
In value terms, steel and iron articles imports surged to $31M in 2022. Over the period under review, imports, however, continue to indicate a abrupt decrease.
| Import of Steel and Iron Articles in Panama (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 11.9 | 6.2 | 6.3 | 8.8 | -9.6% |
| United States | 9.8 | 6.5 | 7.8 | 8.2 | -5.8% |
| Free Zones | 2.5 | 1.9 | 3.5 | 3.4 | 10.8% |
| Spain | 5.1 | 2.5 | 2.1 | 2.6 | -20.1% |
| Colombia | 2.1 | 1.1 | 1.6 | 2.2 | 1.6% |
| Mexico | 0.8 | 0.5 | 0.5 | 1.0 | 7.7% |
| Brazil | 0.8 | 0.8 | 0.6 | 0.8 | 0.0% |
| India | 0.3 | 0.1 | 0.3 | 0.6 | 26.0% |
| Others | 6.5 | 2.9 | 3.6 | 3.3 | -20.2% |
| Total | 39.8 | 22.4 | 26.3 | 31.1 | -7.9% |
Top Suppliers of Steel and Iron Articles to Panama in 2022:
- China (1981.0 tons)
- United States (972.0 tons)
- Colombia (622.7 tons)
- Spain (495.3 tons)
- Free Zones (429.6 tons)
- Brazil (185.1 tons)
- India (126.7 tons)
- Mexico (91.0 tons)
Exports of Steel and Iron Articles in Panama
In 2022, overseas shipments of articles of iron or steel were finally on the rise to reach 18 tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, faced a dramatic slump.
In value terms, steel and iron articles exports soared to $66K in 2022. Over the period under review, exports, however, recorded a dramatic shrinkage.
| Export of Steel and Iron Articles in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| British Indian Ocean Territory | 0.1 | 1.1 | N/A | 25.9 | 537.4% |
| El Salvador | 414 | 503 | N/A | 18.2 | -64.7% |
| United States | 396 | 216 | 14.7 | 7.8 | -73.0% |
| Honduras | 521 | 199 | 0.7 | 4.8 | -79.0% |
| Guyana | 63.2 | 152 | N/A | 2.8 | -64.6% |
| Nicaragua | 330 | 215 | N/A | 2.7 | -79.8% |
| Free Zones | 96.4 | 342 | N/A | 2.7 | -69.6% |
| Costa Rica | 1,047 | 1,139 | 0.9 | 0.4 | -92.7% |
| Dominican Republic | 622 | 422 | N/A | N/A | -32.2% |
| Peru | 803 | 152 | N/A | N/A | -81.1% |
| Guatemala | 1,216 | 724 | N/A | N/A | -40.5% |
| Mexico | 597 | 225 | 0.4 | N/A | -97.4% |
| Colombia | 690 | 328 | 1.1 | N/A | -96.0% |
| Others | 3,888 | 3,260 | 14.9 | 0.8 | -94.1% |
| Total | 10,684 | 7,878 | 32.8 | 66.2 | -81.6% |
Top Export Markets for Steel and Iron Articles from Panama in 2022:
- British Indian Ocean Territory (6.4 tons)
- United States (4.7 tons)
- El Salvador (4.4 tons)
- Honduras (0.7 tons)
- Guyana (0.7 tons)
- Free Zones (0.7 tons)
- Nicaragua (0.6 tons)
- Costa Rica (0.1 tons)
This report provides an in-depth analysis of the market for steel and iron articles in Panama. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25992945 - Articles of iron or steel, n.e.s.
- Prodcom 25992931 - Iron or steel ladders and steps (excluding forged or stamped)
- Prodcom 25992933 - Iron or steel pallets and similar platforms for handling goods
- Prodcom 25992935 - Iron or steel reels for cables, piping and the like
- Prodcom 25992937 - Iron or steel non-mechanical ventilators, guttering, hooks and similar articles used in the building industry (excluding forged or stamped)
Country coverage:
- Panama
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Panama
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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