Panama: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Panama

The Panamanian market for sweet biscuits, waffles and wafers declined slightly to $X in 2022, with a decrease of X% against the previous year. Overall, the total consumption indicated buoyant growth from 2012 to 2022: its value 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, consumption increased by X% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Sweet Biscuits, Waffles and Wafers in Panama

In value terms, sweet biscuit, waffle and wafer production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Sweet Biscuits, Waffles and Wafers

Exports from Panama

In 2022, shipments abroad of sweet biscuits, waffles and wafers decreased by X% to X tons, falling for the fourth consecutive year after two years of growth. Overall, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, sweet biscuit, waffle and wafer exports fell markedly to $X in 2022. In general, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cuba (X tons), Jamaica (X tons) and Venezuela (X tons) were the main destinations of sweet biscuit, waffle and wafer exports from Panama, together accounting for X% of total exports. Trinidad and Tobago, the United States, Honduras, Grenada, Colombia, Barbados, the Dominican Republic and British Indian Ocean Territory lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for sweet biscuit, waffle and wafer exported from Panama were Cuba ($X), Venezuela ($X) and Jamaica ($X), with a combined X% share of total exports. Trinidad and Tobago, the United States, Honduras, Colombia, Grenada, Barbados, the Dominican Republic and British Indian Ocean Territory lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Honduras, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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 export price for sweet biscuits, waffles and wafers amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price saw a pronounced slump. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Barbados ($X per ton), while the average price for exports to Jamaica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Barbados (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports into Panama

In 2022, approx. X tons of sweet biscuits, waffles and wafers were imported into Panama; growing by X% compared with 2021. In general, imports saw significant growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, sweet biscuit, waffle and wafer imports skyrocketed to $X in 2022. Over the period under review, imports recorded a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Colombia (X tons), Mexico (X tons) and Costa Rica (X tons) were the main suppliers of sweet biscuit, waffle and wafer imports to Panama, together accounting for X% of total imports.

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

In value terms, the United States ($X), Mexico ($X) and Colombia ($X) were the largest sweet biscuit, waffle and wafer suppliers to Panama, together comprising X% of total imports.

In terms of the main suppliers, Mexico, with a CAGR of X%, recorded the highest growth rate of 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

The average import price for sweet biscuits, waffles and wafers stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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