Panama: Cotton Yarn Market 2024

Cotton Yarn Market Size in Panama

The Panamanian cotton yarn market contracted to $X in 2022, leveling off at the previous year. In general, consumption recorded a noticeable shrinkage. Cotton yarn consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Cotton Yarn Production in Panama

In value terms, cotton yarn production amounted to $X in 2022 estimated in export price. Overall, production saw a noticeable downturn. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Cotton Yarn Exports

Exports from Panama

In 2022, the amount of cotton yarn exported from Panama contracted notably to X tons, falling by X% compared with the previous year's figure. In general, exports continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, cotton yarn exports fell slightly to $X in 2022. Over the period under review, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Guatemala (X tons), the Dominican Republic (X tons) and Jamaica (X tons) were the main destinations of cotton yarn exports from Panama, together comprising X% of total exports. Nicaragua, Aruba, Trinidad and Tobago and Costa Rica lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for cotton yarn exported from Panama were Jamaica ($X), Guatemala ($X) and the Dominican Republic ($X), with a combined X% share of total exports. Nicaragua, Aruba, Trinidad and Tobago and Costa Rica lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Trinidad and Tobago, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cotton yarn export price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Aruba ($X per ton), while the average price for exports to the Dominican Republic ($X per ton) was amongst the lowest.

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

Cotton Yarn Imports

Imports into Panama

In 2022, approx. X tons of cotton yarn were imported into Panama; rising by X% on the previous year's figure. In general, imports, however, recorded a perceptible decline. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, cotton yarn imports rose significantly to $X in 2022. Over the period under review, imports, however, continue to indicate a mild setback. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of cotton yarn to Panama, accounting for a X% share of total imports. Moreover, cotton yarn imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by Brazil (X tons), with an X% share.

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

In value terms, the largest cotton yarn suppliers to Panama were Brazil ($X), Thailand ($X) and Mexico ($X), with a combined X% share of total imports. China, Free Zones, Guatemala, Peru and Argentina lagged somewhat behind, together comprising a further X%.

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 cotton yarn import price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :