Panama: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Panama

For the fourth year in a row, the Panamanian fuel or lubricating pump market recorded decline in sales value, which decreased by X% to $X in 2022. In general, consumption, however, continues to indicate resilient growth. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports from Panama

For the sixth consecutive year, Panama recorded decline in overseas shipments of fuel, lubricating or cooling-medium pumps for internal combustion engines, which decreased by X% to X units in 2022. In general, exports continue to indicate a deep contraction. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, fuel or lubricating pump exports amounted to $X in 2022. Overall, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for fuel or lubricating pump exports from Panama, with a X% share of total exports. Moreover, fuel or lubricating pump exports to the United States exceeded the volume sent to the second major destination, Venezuela (X units), twofold. The third position in this ranking was taken by Costa Rica (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (X% per year) and Costa Rica (X% per year).

In value terms, Venezuela ($X), the United States ($X) and Costa Rica ($X) appeared to be the largest markets for fuel or lubricating pump exported from Panama worldwide, with a combined X% share of total exports. Honduras, Cuba, the UK, the Dominican Republic, Belize, Barbados, Colombia, Chile and Guyana lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, the UK, with a CAGR of X%, saw 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 fuel or lubricating pump export price stood at $X per unit in 2022, remaining stable against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

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

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

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports into Panama

In 2022, approx. X units of fuel, lubricating or cooling-medium pumps for internal combustion engines were imported into Panama; which is down by X% on the previous year's figure. Overall, imports, however, enjoyed a notable expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, fuel or lubricating pump imports reduced to $X in 2022. In general, imports showed a slight downturn. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Brazil (X units), Mexico (X units) and the United States (X units) were the main suppliers of fuel or lubricating pump imports to Panama, with a combined X% share of total imports. Free Zones, Japan, South Korea, China, Germany, Italy, Turkey, Spain, France and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

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

In value terms, the United States ($X) constituted the largest supplier of fuel, lubricating or cooling-medium pumps for internal combustion engines to Panama, comprising X% of total imports. The second position in the ranking was held by Free Zones ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average fuel or lubricating pump import price amounted to $X per unit, shrinking by X% against the previous year. Overall, the import price recorded a perceptible slump. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :