Panama: Carpet Market 2024

Carpet Market Size in Panama

The Panamanian carpet market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Carpet Production in Panama

In value terms, carpet production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Carpet Exports

Exports from Panama

In 2022, overseas shipments of carpets and other textile floor coverings decreased by X% to X square meters, falling for the fourth consecutive year after three years of growth. In general, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of X square meters. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, carpet exports stood at $X in 2022. Overall, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Costa Rica (X square meters), Trinidad and Tobago (X square meters) and the Dominican Republic (X square meters) were the main destinations of carpet exports from Panama, with a combined X% share of total exports. Chile, Venezuela, Colombia, the United States, Guyana, Jamaica, Cuba, Ecuador, Nicaragua and Curacao lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, Trinidad and Tobago ($X), Chile ($X) and Costa Rica ($X) constituted the largest markets for carpet exported from Panama worldwide, together comprising X% of total exports. The Dominican Republic, Guyana, Venezuela, Colombia, the United States, Jamaica, Cuba, Ecuador, Nicaragua and Curacao lagged somewhat behind, together accounting for a further X%.

The United States, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average carpet export price amounted to $X per square meter, approximately equating the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of X%. As a result, the export price attained the peak level of $X per square meter. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guyana ($X per square meter), while the average price for exports to Curacao ($X per square meter) was amongst the lowest.

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

Carpet Imports

Imports into Panama

In 2022, carpet imports into Panama shrank to X square meters, which is down by X% against 2021. Over the period under review, imports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X square meters in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, carpet imports dropped sharply to $X in 2022. In general, imports faced a abrupt decline. The pace of growth appeared the most rapid in 2017 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X square meters), the United States (X square meters) and Free Zones (X square meters) were the main suppliers of carpet imports to Panama, together comprising X% of total imports. India, Turkey, Colombia, Belgium, Italy, Spain and Egypt 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 Colombia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

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

Import Prices by Country

In 2022, the average carpet import price amounted to $X per square meter, shrinking by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per square meter. From 2018 to 2022, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Free Zones ($X per square meter) and Egypt ($X per square meter), while the price for Belgium ($X per square meter) and Spain ($X per square meter) were amongst the lowest.

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

Source: IndexBox Platform

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