Panama: Ceramic Tile Market 2024

Ceramic Tile Market Size in Panama

The Panamanian ceramic tile market contracted to $X in 2022, which is down by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level of $X, and then reduced modestly in the following year.

Ceramic Tile Exports

Exports from Panama

In 2022, approx. X square meters of ceramic tiles were exported from Panama; waning by X% on the previous year's figure. Over the period under review, exports showed a deep contraction. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X square meters in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, ceramic tile exports reduced to $X in 2022. In general, exports faced a dramatic downturn. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Colombia (X square meters) was the main destination for ceramic tile exports from Panama, accounting for a X% share of total exports. Moreover, ceramic tile exports to Colombia exceeded the volume sent to the second major destination, Jamaica (X square meters), sixfold. The third position in this ranking was taken by Aruba (X square meters), with a X% share.

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

In value terms, Colombia ($X) remains the key foreign market for ceramic tiles exports from Panama, comprising X% of total exports. The second position in the ranking was held by Antigua and Barbuda ($X), with an X% share of total exports. It was followed by Jamaica, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Antigua and Barbuda (X% per year) and Jamaica (X% per year).

Export Prices by Country

In 2022, the average ceramic tile export price amounted to $X per square meter, declining by X% against the previous year. In general, the export price recorded a deep contraction. The pace of growth was the most pronounced in 2017 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per square meter in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Antigua and Barbuda ($X per square meter), while the average price for exports to Aruba ($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 Cuba (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ceramic Tile Imports

Imports into Panama

Ceramic tile imports into Panama fell sharply to X square meters in 2022, which is down by X% on the previous year's figure. In general, imports, however, recorded temperate growth. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X square meters, and then reduced rapidly in the following year.

In value terms, ceramic tile imports surged to $X in 2022. Overall, imports, however, posted notable growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Brazil (X square meters), Spain (X square meters) and China (X square meters) were the main suppliers of ceramic tile imports to Panama, together comprising X% of total imports. Italy, Peru, Colombia, Mexico, Guatemala and Ecuador lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Spain ($X) and China ($X) constituted the largest ceramic tile suppliers to Panama, together comprising X% of total imports. Italy, Peru, Colombia, Mexico, Guatemala and Ecuador lagged somewhat behind, together comprising a further X%.

Peru, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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 ceramic tile import price amounted to $X per square meter, rising by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Italy ($X per square meter) and Spain ($X per square meter), while the price for Mexico ($X per square meter) and Colombia ($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 Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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