Panama: Market for Tennis, Badminton Or Similar Rackets 2024

Market Size for Tennis, Badminton Or Similar Rackets in Panama

In 2022, after four years of decline, there was significant growth in the Panamanian tennis and badminton rackets market, when its value increased by X% to $X. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Exports of Tennis, Badminton Or Similar Rackets

Exports from Panama

In 2022, overseas shipments of tennis, badminton or similar rackets increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a deep setback. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, tennis and badminton rackets exports rose significantly to $X in 2022. Over the period under review, exports, however, recorded a abrupt descent. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Jamaica (X units), Trinidad and Tobago (X units) and Guyana (X units) were the main destinations of tennis and badminton rackets 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 Trinidad and Tobago (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tennis and badminton rackets exported from Panama were Trinidad and Tobago ($X), Jamaica ($X) and the Netherlands ($X), together comprising X% of total exports.

Trinidad and Tobago, with a CAGR of X%, saw the highest rates of growth with regard to 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 tennis and badminton rackets export price amounted to $X per unit, falling by X% against the previous year. Over the period under review, the export price showed a perceptible reduction. The growth pace was the most rapid in 2016 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a 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 Guatemala ($X per unit), while the average price for exports to Guyana ($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 Bermuda (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tennis, Badminton Or Similar Rackets

Imports into Panama

In 2022, overseas purchases of tennis, badminton or similar rackets were finally on the rise to reach X units after four years of decline. In general, imports, however, recorded a abrupt slump. The growth pace was 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, tennis and badminton rackets imports surged to $X in 2022. Overall, imports, however, continue to indicate a mild decrease. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Free Zones (X units), Spain (X units) and China (X units) were the main suppliers of tennis and badminton rackets imports to Panama, with a combined X% share of total imports. The United States, Pakistan, Portugal and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of X.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tennis and badminton rackets suppliers to Panama were Free Zones ($X), Spain ($X) and China ($X), together accounting for X% of total imports. The United States, Pakistan, Portugal and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Portugal, with a CAGR of X%, recorded 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 tennis and badminton rackets import price amounted to $X per unit, waning by X% against the previous year. In general, import price indicated a noticeable 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, tennis and badminton rackets import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2021, and then dropped in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Hong Kong SAR ($X per unit) and Free Zones ($X per unit), while the price for Portugal ($X per unit) and Pakistan ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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