Panama: Festive Articles Market 2024

Festive Articles Market Size in Panama

The Panamanian festive articles market plummeted to $X in 2022, waning 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). Over the period under review, consumption, however, enjoyed a strong expansion. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Festive Articles Exports

Exports from Panama

In 2022, after four years of decline, there was significant growth in overseas shipments of festive or carnival articles, when their volume increased by X% to X tons. In general, exports, however, faced a abrupt shrinkage. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, festive articles exports surged to $X in 2022. Over the period under review, exports, however, faced a abrupt slump. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X tons), Colombia (X tons) and Costa Rica (X tons) were the main destinations of festive articles exports from Panama, with a combined X% share of total exports. Nicaragua, Venezuela, El Salvador, Honduras, Ecuador, Trinidad and Tobago, the United States, Aruba, Chile and Paraguay lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for El Salvador (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for festive articles exported from Panama were the Dominican Republic ($X), Colombia ($X) and Costa Rica ($X), together accounting for X% of total exports. Nicaragua, Venezuela, El Salvador, Honduras, Ecuador, Trinidad and Tobago, the United States, Chile, Aruba and Paraguay lagged somewhat behind, together accounting for a further X%.

El Salvador, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average festive articles export price stood at $X per ton in 2022, rising by X% against the previous year. In general, export price indicated a prominent expansion from 2012 to 2022: its price 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. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Paraguay ($X per ton) and Costa Rica ($X per ton), while the average price for exports to Venezuela ($X per ton) and Aruba ($X per ton) were amongst the lowest.

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

Festive Articles Imports

Imports into Panama

In 2022, approx. X tons of festive or carnival articles were imported into Panama; declining by X% on 2021 figures. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, festive articles imports shrank sharply to $X in 2022. In general, imports saw a deep slump. The growth pace was the most rapid in 2018 with an increase of X%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), the United States (X tons) and Free Zones (X tons) were the main suppliers of festive articles imports to Panama, together accounting for X% of total imports. Mexico and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Mexico ($X) and the United States ($X) appeared to be the largest festive articles suppliers to Panama, together accounting for X% of total imports.

In terms of the main suppliers, Mexico, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average festive articles import price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price saw a perceptible setback. The most prominent rate of growth was recorded in 2018 an increase of X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for the United States ($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 a decline.

Source: IndexBox Platform

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