Panama: Bicycle Lighting Market 2024

Bicycle Lighting Market Size in Panama

The Panamanian bicycle lighting market skyrocketed to $X in 2022, jumping by X% against the previous year. Over the period under review, consumption saw strong growth. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Bicycle Lighting Production in Panama

In value terms, bicycle lighting production stood at $X in 2022 estimated in export price. In general, production recorded a sharp descent. The pace of growth was the most pronounced in 2016 when the production volume increased by X,800%. Bicycle lighting production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Bicycle Lighting Exports

Exports from Panama

In 2022, the amount of electrical or battery operated lighting or visual signalling for bicycles exported from Panama amounted to X units, flattening at 2021. In general, exports saw a precipitous decline. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, bicycle lighting exports amounted to $X in 2022. Overall, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Cuba (X units), Colombia (X units) and Jamaica (X units) were the main destinations of bicycle lighting exports from Panama, with a combined X% share of total exports. Costa Rica, Trinidad and Tobago, Honduras, Chile, Venezuela, the Dominican Republic, Ecuador and El Salvador lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the largest markets for bicycle lighting exported from Panama were Cuba ($X), Colombia ($X) and Jamaica ($X), together accounting for X% of total exports. Costa Rica, Trinidad and Tobago, Honduras, Chile, Venezuela, the Dominican Republic, Ecuador and El Salvador lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Chile, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average bicycle lighting export price amounted to $X per unit, approximately equating the previous year. In general, the export price showed a strong expansion. The pace of growth was the most pronounced in 2015 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were El Salvador ($X per unit) and the Dominican Republic ($X per unit), while the average price for exports to Colombia ($X per unit) and Jamaica ($X per unit) were amongst the lowest.

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

Bicycle Lighting Imports

Imports into Panama

In 2022, the amount of electrical or battery operated lighting or visual signalling for bicycles imported into Panama soared to X units, growing by X% against 2021 figures. In general, imports, however, showed a abrupt slump. Imports peaked at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, bicycle lighting imports surged to $X in 2022. Overall, imports enjoyed a moderate expansion. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of bicycle lighting to Panama, with a X% share of total imports. Moreover, bicycle lighting imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), more than tenfold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, the United States ($X) constituted the largest supplier of electrical or battery operated lighting or visual signalling for bicycles to Panama, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

The average bicycle lighting import price stood at $X per unit in 2022, growing by X% against the previous year. In general, the import price showed a buoyant increase. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per unit) and the United States ($X per unit), while the price for Free Zones ($X per unit) and France ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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