Panama: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Panama

In 2023, the Panamanian conveyor or transmission belt market decreased by X% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption recorded a noticeable contraction. Conveyor or transmission belt consumption peaked at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Production of Conveyor Or Transmission Belts Or Belting in Panama

In value terms, conveyor or transmission belt production fell modestly to $X in 2023 estimated in export price. Over the period under review, production recorded a abrupt downturn. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2023, production growth remained at a lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Panama

In 2023, overseas shipments of conveyor or transmission belts or belting decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a sharp descent. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, conveyor or transmission belt exports shrank dramatically to $X in 2023. In general, exports faced a significant contraction. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Guatemala (X tons), Barbados (X tons) and Belize (X tons) were the main destinations of conveyor or transmission belt exports from Panama, together comprising X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Belize (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Guatemala ($X) emerged as the key foreign market for conveyor or transmission belts or belting exports from Panama, comprising X% of total exports. The second position in the ranking was held by Chile ($X), with a X% share of total exports. It was followed by Barbados, with an X% share.

From 2012 to 2023, the average annual growth rate of value to Guatemala totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and Barbados (X% per year).

Export Prices by Country

The average conveyor or transmission belt export price stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the export price recorded a noticeable decrease. The pace of growth was the most pronounced in 2016 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Aruba ($X per ton), while the average price for exports to Barbados ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Chile (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Panama

In 2023, the amount of conveyor or transmission belts or belting imported into Panama reached X tons, approximately reflecting the year before. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2023, the growth of imports failed to regain momentum.

In value terms, conveyor or transmission belt imports declined to $X in 2023. Over the period under review, imports enjoyed a tangible increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, imports attained the peak of $X. From 2019 to 2023, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Poland (X tons) were the main suppliers of conveyor or transmission belt imports to Panama, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest conveyor or transmission belt suppliers to Panama were the United States ($X), China ($X) and Poland ($X), together accounting for X% of total imports.

Poland, 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

The average conveyor or transmission belt import price stood at $X per ton in 2023, reducing by X% against the previous year. In general, import price indicated a moderate expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, conveyor or transmission belt import price increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform