Panama: Market for Primary Cells and Batteries 2024

Market Size for Primary Cells and Batteries in Panama

The Panamanian primary cell and battery market was estimated at $X in 2022, approximately equating the previous year. Overall, consumption, however, saw notable growth. Primary cell and battery consumption peaked in 2022 and is likely to continue growth in the near future.

Production of Primary Cells and Batteries in Panama

In value terms, primary cell and battery production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a significant expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Primary Cells and Batteries

Exports from Panama

In 2022, shipments abroad of primary cells and batteries decreased by X% to X units, falling for the third consecutive year after two years of growth. Overall, exports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2016 with an increase of X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, primary cell and battery exports totaled $X in 2022. Over the period under review, exports faced a deep slump. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X units), Colombia (X units) and the Dominican Republic (X units) were the main destinations of primary cell and battery exports from Panama, with a combined X% share of total exports. Uruguay, Paraguay, Chile, Ecuador, the United States, Trinidad and Tobago, Guatemala, El Salvador, Bolivia and Costa Rica lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Trinidad and Tobago (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Colombia ($X) and the Dominican Republic ($X) were the largest markets for primary cell and battery exported from Panama worldwide, together comprising X% of total exports. Uruguay, Paraguay, Chile, Ecuador, the United States, Trinidad and Tobago, Guatemala, El Salvador, Costa Rica and Bolivia lagged somewhat behind, together comprising a further X%.

Trinidad and Tobago, with a CAGR of X%, recorded 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 primary cell and battery export price amounted to $X per unit, therefore, remained relatively stable against the previous year. Overall, the export price continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per unit) and Peru ($X per unit), while the average price for exports to Paraguay ($X per unit) and Bolivia ($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 Peru (X%), while the prices for the other major destinations experienced a decline.

Imports of Primary Cells and Batteries

Imports into Panama

In 2022, overseas purchases of primary cells and batteries decreased by X% to X units, falling for the third year in a row after two years of growth. In general, imports faced a sharp descent. The growth pace was the most rapid in 2016 when imports increased by X%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, primary cell and battery imports declined significantly to $X in 2022. Over the period under review, imports faced a abrupt curtailment. The pace of growth appeared the most rapid in 2020 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Costa Rica (X units), Brazil (X units) and Free Zones (X units) were the main suppliers of primary cell and battery imports to Panama, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of primary cells and batteries to Panama, comprising X% of total imports. The second position in the ranking was held by Costa Rica ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the average primary cell and battery import price amounted to $X per unit, increasing by X% against the previous year. Overall, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, primary cell and battery import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of X%. The import price peaked in 2022 and is likely to continue growth in the near future.

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

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

Source: IndexBox Platform

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