Seals; Mechanical Price in Panama - 2023

Contents:

1. Seals; Mechanical Price in Panama (CIF) - 2022
2. Seals; Mechanical Price in Panama (FOB) - 2022
3. Seals; Mechanical Imports in Panama
4. Seals; Mechanical Exports in Panama

Seals; Mechanical Price in Panama (CIF) - 2022

In 2022, the average seals; mechanical import price amounted to $40 per unit, with a decrease of -18.2% against the previous year. Over the period under review, the import price, however, showed significant growth. The most prominent rate of growth was recorded in 2013 an increase of 220%. The import price peaked at $52 per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($103 per unit), while the price for Colombia ($21 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+32.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Seals; Mechanical Price in Panama (FOB) - 2022

In 2022, the average seals; mechanical export price amounted to $182 per unit, almost unchanged from the previous year. Overall, the export price posted a significant expansion. The pace of growth appeared the most rapid in 2015 when the average export price increased by 195%. The export price peaked at $193 per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Trinidad and Tobago amounted to +124.6% per year.

Seals; Mechanical Imports in Panama

In 2022, approx. 18K units of seals; mechanicals were imported into Panama; increasing by 49% against 2021. Over the period under review, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 50%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, seals; mechanical imports surged to $719K in 2022. In general, imports showed a significant increase. The growth pace was the most rapid in 2021 when imports increased by 42%. Imports peaked in 2022 and are expected to retain growth in years to come.

Top Suppliers of Seals; Mechanical to Panama in 2022:

1. Sweden (4.8K units)
2. United States (4.1K units)
3. Colombia (2.6K units)
4. Japan (1.2K units)
5. Spain (1.0K units)
6. China (0.9K units)
7. Free Zones (0.8K units)
8. Germany (0.4K units)
9. Mexico (0.2K units)

Seals; Mechanical Exports in Panama

For the third year in a row, Panama recorded decline in shipments abroad of seals; mechanicals, which decreased by 0% to 14 units in 2022. Overall, exports continue to indicate a significant curtailment. The smallest decline of -81.7% was in 2020. The exports peaked at 153 units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, seals; mechanical exports stood at $2.5K in 2022. In general, exports showed a precipitous decrease. The smallest decline of -82.8% was in 2020. Over the period under review, the exports hit record highs at $30K in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Top Export Markets for Seals; Mechanical from Panama in 2022:

1. Venezuela (4.0 units)

Source: IndexBox Market Intelligence Platform