Panama: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Panama

The Panamanian jacks and hoists market shrank slightly to $X in 2022, approximately mirroring the previous year. In general, consumption recorded a slight reduction. 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.

Jacks And Hoists Production in Panama

In value terms, jacks and hoists production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Jacks And Hoists Exports

Exports from Panama

For the sixth year in a row, Panama recorded decline in overseas shipments of jacks and hoists for raising vehicles, which decreased by X% to X units in 2022. Overall, exports recorded a dramatic descent. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, jacks and hoists exports surged to $X in 2022. In general, exports faced a abrupt descent. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ecuador (X units), Guatemala (X units) and Cuba (X units) were the main destinations of jacks and hoists 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 Cuba (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for jacks and hoists exported from Panama were Venezuela ($X), the Dominican Republic ($X) and Cuba ($X), together accounting for X% of total exports.

In terms of the main countries of destination, Cuba, with a CAGR of X%, saw 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 2022, the average jacks and hoists export price amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the export price recorded a significant increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Guatemala ($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 Colombia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Jacks And Hoists Imports

Imports into Panama

In 2022, approx. X units of jacks and hoists for raising vehicles were imported into Panama; declining by X% compared with the previous year. Overall, imports saw a deep downturn. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, jacks and hoists imports reduced modestly to $X in 2022. Over the period under review, imports showed a noticeable contraction. The pace of growth was the most pronounced in 2017 when imports increased by X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of jacks and hoists to Panama, accounting for a X% share of total imports. Moreover, jacks and hoists imports from China exceeded the figures recorded by the second-largest supplier, Free Zones (X units), fourfold. The third position in this ranking was held by Mexico (X units), with an X% share.

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

In value terms, China ($X) constituted the largest supplier of jacks and hoists for raising vehicles to Panama, comprising X% of total imports. The second position in the ranking was held by Free Zones ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 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: Free Zones (X% per year) and the United States (X% per year).

Import Prices by Country

The average jacks and hoists import price stood at $X per unit in 2022, rising by X% against the previous year. Overall, the import price continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2016 when the average import price increased by X%. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, 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 Free Zones (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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