Report Update: May 1, 2024

Panama - Seats For Motor Vehicles - Market Analysis, Forecast, Size, Trends And Insights

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Vehicle Seat Price in Panama - 2022

Vehicle Seat Price in Panama (CIF) - 2022

In 2022, the average vehicle seat import price amounted to $359 per unit, surging by 9.6% against the previous year. In general, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vehicle seat import price increased by +24.9% against 2016 indices. The pace of growth was the most pronounced in 2016 when the average import price increased by 26%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Colombia ($236 per unit), while the price for Taiwan (Chinese) ($84 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Vehicle Seat Price in Panama (FOB) - 2022

In 2022, the average vehicle seat export price amounted to $278 per unit, standing approx. at the previous year. Overall, the export price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2016 an increase of 72% against the previous year. Over the period under review, the average export prices hit record highs at $373 per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($95 per unit) and Jamaica ($93 per unit), while the average price for exports to Guyana ($85 per unit) and Aruba ($85 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-3.0%), while the prices for the other major destinations experienced a decline.

Vehicle Seat Imports in Panama

In 2022, purchases abroad of seats for motor vehicles was finally on the rise to reach 6.1K units after two years of decline. Overall, imports, however, faced a abrupt downturn. Imports peaked at 8.5K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, vehicle seat imports soared to $2.2M in 2022. In general, imports, however, recorded a mild slump. Over the period under review, imports attained the maximum at $2.3M in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Import of Vehicle Seat in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Free Zones	466	264	720	693	14.1%
China	862	1,203	289	611	-10.8%
United States	657	486	661	535	-6.6%
Taiwan (Chinese)	2.0	N/A	3.1	95.8	263.2%
Colombia	162	N/A	3.7	93.8	-16.7%
Others	149	137	97.3	175	5.5%
Total	2,298	2,089	1,775	2,204	-1.4%

Top Suppliers of Vehicle Seat to Panama in 2022:

Free Zones (5.6K units)
China (3.2K units)
United States (2.4K units)
Taiwan (Chinese) (1.1K units)
Colombia (0.4K units)

Vehicle Seat Exports in Panama

For the third consecutive year, Panama recorded decline in overseas shipments of seats for motor vehicles, which decreased by 0% to 1.5K units in 2022. Overall, exports continue to indicate a sharp contraction. The smallest decline of -13.4% was in 2020. The exports peaked at 3.4K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, vehicle seat exports amounted to $408K in 2022. In general, exports showed a dramatic downturn. The smallest decline of -23% was in 2020. Over the period under review, the exports attained the peak figure at $1.1M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Export of Vehicle Seat in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Trinidad and Tobago	131	118	18.5	13.1	-53.6%
Costa Rica	32.6	89.9	14.1	9.8	-33.0%
Paraguay	78.7	60.3	10.2	7.3	-54.7%
Dominican Republic	28.9	63.7	10.0	7.0	-37.7%
El Salvador	11.5	33.1	5.2	3.6	-32.1%
Guatemala	32.1	29.9	4.8	3.3	-53.2%
Jamaica	31.4	21.6	3.6	2.7	-55.9%
Honduras	28.2	21.2	3.3	2.5	-55.4%
Guyana	20.3	23.3	3.6	2.5	-50.2%
Curacao	12.8	19.2	3.0	2.1	-45.3%
Aruba	10.0	18.7	2.9	2.0	-41.5%
Barbados	6.9	18.5	2.9	2.0	-33.8%
United States	29.4	10.0	2.2	1.9	-59.9%
Others	606	289	-84.2	348	-16.9%
Total	1,060	816	N/A	408	-27.3%

Top Export Markets for Vehicle Seat from Panama in 2022:

Trinidad and Tobago (150.0 units)
Costa Rica (114.0 units)
Dominican Republic (81.0 units)
Paraguay (79.0 units)
El Salvador (42.0 units)
Guatemala (38.0 units)
Guyana (30.0 units)
Jamaica (29.0 units)
Honduras (28.0 units)
Curacao (24.0 units)
Aruba (24.0 units)
Barbados (23.0 units)
United States (20.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the vehicle seat market 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 29321000 - Seats for motor vehicles

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
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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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. 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
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023