Panama: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in Panama

The Panamanian metal frame upholstered seat market shrank to $X in 2022, declining by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded pronounced growth. Metal frame upholstered seat consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Exports of Upholstered Seats With Metal Frames

Exports from Panama

In 2022, overseas shipments of upholstered seats with metal frames were finally on the rise to reach X units after four years of decline. Over the period under review, exports, however, showed a dramatic downturn. The pace of growth was the most pronounced in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, metal frame upholstered seat exports expanded modestly to $X in 2022. Overall, exports, however, faced a sharp slump. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for metal frame upholstered seat exports from Panama, accounting for a X% share of total exports. Moreover, metal frame upholstered seat exports to the United States exceeded the volume sent to the second major destination, Costa Rica (X units), twofold. The third position in this ranking was taken by the Dominican Republic (X units), with an X% share.

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

In value terms, the United States ($X) remains the key foreign market for upholstered seats with metal frames exports from Panama, comprising X% of total exports. The second position in the ranking was held by Costa Rica ($X), with an X% share of total exports. It was followed by the Dominican Republic, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (X% per year) and the Dominican Republic (X% per year).

Export Prices by Country

In 2022, the average metal frame upholstered seat export price amounted to $X per unit, shrinking by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Guatemala ($X per unit) and Guyana ($X per unit), while the average price for exports to the United States ($X per unit) and Nicaragua ($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 Guatemala (X%), while the prices for the other major destinations experienced a decline.

Imports of Upholstered Seats With Metal Frames

Imports into Panama

In 2022, approx. X units of upholstered seats with metal frames were imported into Panama; dropping by X% against the previous year. In general, imports saw a abrupt contraction. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, metal frame upholstered seat imports dropped to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Free Zones (X units), China (X units) and Mexico (X units) were the main suppliers of metal frame upholstered seat imports to Panama, together comprising X% of total imports. Italy, Taiwan (Chinese), the United States, Denmark and India lagged somewhat behind, together accounting for a further X%.

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

In value terms, Free Zones ($X), China ($X) and Italy ($X) were the largest metal frame upholstered seat suppliers to Panama, with a combined X% share of total imports.

Among the main suppliers, Free Zones, 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

The average metal frame upholstered seat import price stood at $X per unit in 2022, growing by X% against the previous year. Overall, the import price recorded strong growth. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in the immediate term.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :