Panama: Bearing Market 2024

Bearing Market Size in Panama

The Panamanian bearing market reduced sharply to $X in 2022, waning by X% against the previous year. Over the period under review, consumption saw a perceptible descent. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Bearing Production in Panama

In value terms, bearing production rose significantly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Bearing Exports

Exports from Panama

In 2022, the amount of ball or roller bearings exported from Panama stood at X tons, flattening at the previous year's figure. Over the period under review, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, bearing exports stood at $X in 2022. Overall, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Colombia (X tons), Brazil (X tons) and Argentina (X tons) were the main destinations of bearing exports from Panama, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Argentina (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the largest markets for bearing exported from Panama were Colombia ($X), Brazil ($X) and Ecuador ($X), together comprising X% of total exports. Peru, Chile, Argentina, Guatemala, Honduras, Costa Rica, Uruguay, El Salvador, Mexico and Nicaragua lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Argentina, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average bearing export price amounted to $X per ton, flattening at the previous year. Over the period under review, the export price enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Costa Rica ($X per ton) and Honduras ($X per ton), while the average price for exports to Argentina ($X per ton) and Uruguay ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Panama

After two years of decline, overseas purchases of ball or roller bearings increased by X% to X tons in 2022. Overall, imports, however, continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, bearing imports expanded notably to $X in 2022. Over the period under review, imports, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Free Zones (X tons), the United States (X tons) and China (X tons) were the main suppliers of bearing imports to Panama, together comprising X% of total imports. Japan, South Korea, Germany, Sweden and Mexico lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of ball or roller bearings to Panama, comprising X% of total imports. The second position in the ranking was taken by Free Zones ($X), with a X% share of total imports. It was followed by Japan, with an X% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average bearing import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, 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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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