Panama: Candles And Tapers Market 2024

Candles And Tapers Market Size in Panama

The Panamanian candles and tapers market shrank slightly to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Candles And Tapers Production in Panama

In value terms, candles and tapers production totaled $X in 2022 estimated in export price. Overall, production, however, showed a mild reduction. The pace of growth appeared the most rapid in 2014 with an increase of X%. Candles and tapers production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Candles And Tapers Exports

Exports from Panama

In 2022, approx. X tons of candles and tapers were exported from Panama; growing by X% on 2021. Over the period under review, exports recorded buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, candles and tapers exports amounted to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by X%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for candles and tapers exports from Panama, with a X% share of total exports. Moreover, candles and tapers exports to the United States exceeded the volume sent to the second major destination, Aruba (X tons), sevenfold. The third position in this ranking was taken by Venezuela (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (X% per year) and Venezuela (X% per year).

In value terms, the United States ($X) remains the key foreign market for candles and tapers exports from Panama, comprising X% of total exports. The second position in the ranking was held by Aruba ($X), with a X% share of total exports. It was followed by Peru, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (X% per year) and Peru (X% per year).

Export Prices by Country

In 2022, the average candles and tapers export price amounted to $X per ton, dropping by X% against the previous year. In general, the export price recorded a abrupt slump. The pace of growth was the most pronounced in 2014 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Peru ($X per ton), while the average price for exports to Free Zones ($X per ton) and Venezuela ($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 Free Zones (X%), while the prices for the other major destinations experienced a decline.

Candles And Tapers Imports

Imports into Panama

In 2022, the amount of candles and tapers imported into Panama contracted to X tons, shrinking by X% on the previous year. Overall, imports, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, candles and tapers imports expanded modestly to $X in 2022. Over the period under review, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of candles and tapers to Panama, accounting for a X% share of total imports. Moreover, candles and tapers imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Free Zones (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, the largest candles and tapers suppliers to Panama were the United States ($X), China ($X) and Free Zones ($X), with a combined X% share of total imports.

In terms of the main suppliers, Free Zones, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average candles and tapers import price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. 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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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