Panama: Hay-Making Machinery Market 2024

Hay-Making Machinery Market Size in Panama

The Panamanian hay-making machinery market contracted modestly to $X in 2022, falling by X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Hay-Making Machinery Production in Panama

In value terms, hay-making machinery production declined modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Hay-Making Machinery Exports

Exports from Panama

In 2020, hay-making machinery exports from Panama amounted to X units, remaining relatively unchanged against the previous year's figure. Overall, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X units in 2014; however, from 2015 to 2020, the exports failed to regain momentum.

In value terms, hay-making machinery exports stood at $X in 2020. Over the period under review, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. The exports peaked at $X in 2014; however, from 2015 to 2020, the exports failed to regain momentum.

Exports by Country

Cuba (X units), Colombia (X units) and Venezuela (X units) were the main destinations of hay-making machinery exports from Panama, together accounting for X% of total exports.

From 2012 to 2020, the biggest increases were recorded for Cuba (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cuba ($X), Venezuela ($X) and Colombia ($X) constituted the largest markets for hay-making machinery exported from Panama worldwide, with a combined X% share of total exports.

Among the main countries of destination, Colombia, 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 mixed trend patterns.

Export Prices by Country

In 2020, the average hay-making machinery export price amounted to $X per unit, standing approx. at the previous year. Over the period under review, the export price saw a resilient increase. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2020, 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 Cuba ($X per unit), while the average price for exports to Colombia ($X per unit) was amongst the lowest.

From 2012 to 2020, 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 mixed trend patterns.

Hay-Making Machinery Imports

Imports into Panama

In 2022, the amount of hay-making machinery imported into Panama reduced sharply to X units, which is down by X% compared with the year before. Overall, imports, however, recorded a significant increase. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports reached the peak figure at X units in 2021, and then shrank rapidly in the following year.

In value terms, hay-making machinery imports reduced rapidly to $X in 2022. Over the period under review, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at $X in 2021, and then contracted significantly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest hay-making machinery supplier to Panama, accounting for a X% share of total imports. Moreover, hay-making machinery imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), sixfold. India (X units) ranked third in terms of total imports with a X% share.

From 2013 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and India (X% per year).

In value terms, China ($X) constituted the largest supplier of hay-making machinery to Panama, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports. It was followed by France, with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and France (X% per year).

Import Prices by Country

The average hay-making machinery import price stood at $X per unit in 2022, which is down by X% against the previous year. In general, the import price, however, showed strong growth. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 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 France ($X per unit), while the price for Free Zones ($X per unit) was amongst the lowest.

From 2013 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

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