Panama: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in Panama

The Panamanian food manufacture machinery market skyrocketed to $X in 2022, with an increase of X% against the previous year. Overall, consumption, however, showed a noticeable decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Food Manufacture Machinery Production in Panama

In value terms, food manufacture machinery production rose notably to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible decline. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Food Manufacture Machinery Exports

Exports from Panama

In 2022, approx. X units of machinery for the preparation or manufacture of food or drink were exported from Panama; stabilizing at 2021 figures. Over the period under review, exports faced a abrupt decline. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, food manufacture machinery exports stood at $X in 2022. Overall, exports recorded a drastic downturn. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The Dominican Republic (X units) was the main destination for food manufacture machinery exports from Panama, with a X% share of total exports. Moreover, food manufacture machinery exports to the Dominican Republic exceeded the volume sent to the second major destination, Colombia (X units), fourfold. The third position in this ranking was held by Trinidad and Tobago (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Dominican Republic stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (X% per year) and Trinidad and Tobago (X% per year).

It was followed by Trinidad and Tobago, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Dominican Republic totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (X% per year) and Trinidad and Tobago (X% per year).

Export Prices by Country

In 2022, the average food manufacture machinery export price amounted to $X per unit, therefore, remained relatively stable against the previous year. In general, the export price continues to indicate a measured expansion. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Cuba ($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.

Food Manufacture Machinery Imports

Imports into Panama

In 2022, overseas purchases of machinery for the preparation or manufacture of food or drink increased by X% to X units, rising for the third consecutive year after three years of decline. Overall, imports recorded a significant increase. The growth pace was the most rapid in 2016 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, food manufacture machinery imports surged to $X in 2022. Over the period under review, imports continue to indicate significant growth. The growth pace was the most rapid in 2016 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Spain (X units), Germany (X units) and India (X units) were the main suppliers of food manufacture machinery imports to Panama, together comprising X% of total imports.

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

In value terms, the largest food manufacture machinery suppliers to Panama were Germany ($X), Spain ($X) and India ($X), together accounting for X% of total imports.

In terms of the main suppliers, India, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average food manufacture machinery import price amounted to $X per unit, rising by X% against the previous year. In general, the import price, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2017 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 remained at a lower figure.

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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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