Panama: Market for Cultured Pearls, Precious Or Semi-Precious Stones 2024

Market Size for Cultured Pearls, Precious Or Semi-Precious Stones in Panama

The Panamanian precious stone and pearl market fell markedly to $X in 2022, waning by X% against the previous year. In general, consumption continues to indicate a abrupt slump. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Cultured Pearls, Precious Or Semi-Precious Stones in Panama

In value terms, precious stone and pearl production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Panama

In 2022, exports of cultured pearls, precious or semi-precious stones from Panama expanded markedly to X tons, increasing by X% against 2021 figures. Overall, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, precious stone and pearl exports declined to $X in 2022. In general, exports recorded a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for precious stone and pearl exports from Panama, with a X% share of total exports. It was followed by Aruba (X tons), with less than X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%.

In value terms, the United States ($X) remains the key foreign market for cultured pearls, precious or semi-precious stones exports from Panama, comprising X% of total exports. The second position in the ranking was held by Aruba ($X), with less than X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to X%.

Export Prices by Country

The average precious stone and pearl export price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price saw a precipitous shrinkage. The growth pace was the most rapid in 2014 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2015 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 the United States ($X per ton), while the average price for exports to Aruba stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%).

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Panama

In 2022, approx. X tons of cultured pearls, precious or semi-precious stones were imported into Panama; declining by X% against 2021 figures. In general, imports recorded a sharp curtailment. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, precious stone and pearl imports reduced remarkably to $X in 2022. Overall, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of precious stone and pearl to Panama, with a X% share of total imports. Moreover, precious stone and pearl imports from the United States exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. Spain (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 the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Spain (X% per year).

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

Belgium, with a CAGR of X%, recorded the highest rates of growth with regard to 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 precious stone and pearl import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price enjoyed a significant expansion. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Free Zones ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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