Panama: Ignition Magneto Market 2024

Ignition Magneto Market Size in Panama

The Panamanian ignition magneto market shrank modestly to $X in 2022, falling by X% against the previous year. In general, consumption recorded a perceptible shrinkage. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Ignition Magneto Production in Panama

In value terms, ignition magneto production dropped slightly to $X in 2022 estimated in export price. In general, production showed a noticeable curtailment. The most prominent rate of growth was recorded 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.

Ignition Magneto Exports

Exports from Panama

In 2022, ignition magneto exports from Panama was estimated at X units, flattening at the previous year's figure. Overall, exports posted a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, ignition magneto exports amounted to $X in 2022. Over the period under review, exports showed mild growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Dominican Republic (X units), Colombia (X units) and Nicaragua (X units) were the main destinations of ignition magneto exports from Panama, with a combined X% share of total exports.

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

In value terms, the Dominican Republic ($X), Colombia ($X) and Nicaragua ($X) were the largest markets for ignition magneto exported from Panama worldwide, with a combined X% share of total exports.

The Dominican Republic, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination 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 ignition magneto export price amounted to $X per unit, leveling off at the previous year. Overall, the export price saw a pronounced contraction. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the Dominican Republic ($X per unit) and Guyana ($X per unit), while the average price for exports to Colombia ($X per unit) and Nicaragua ($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 Guyana (X%), while the prices for the other major destinations experienced a decline.

Ignition Magneto Imports

Imports into Panama

In 2022, supplies from abroad of ignition magnetos, magneto-dynamos and magnetic flywheels increased by X% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, saw a deep setback. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, ignition magneto imports soared to $X in 2022. Overall, imports posted pronounced growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United States (X units) constituted the largest ignition magneto supplier to Panama, accounting for a X% share of total imports. Moreover, ignition magneto imports from the United States exceeded the figures recorded by the second-largest supplier, Free Zones (X units), fivefold. South Korea (X units) 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: Free Zones (X% per year) and South Korea (X% per year).

In value terms, the United States ($X) constituted the largest supplier of ignition magnetos, magneto-dynamos and magnetic flywheels to Panama, comprising X% of total imports. The second position in the ranking was taken by Free Zones ($X), with a X% share of total imports. It was followed by Germany, 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 Germany (X% per year).

Import Prices by Country

In 2022, the average ignition magneto import price amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the import price, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 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 ($X per unit), while the price for South Korea ($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 UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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