Panama: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Panama

The Panamanian wooden office furniture market shrank to $X in 2022, declining by X% against the previous year. Overall, consumption showed a pronounced decrease. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Wooden Office Furniture Production in Panama

In value terms, wooden office furniture production declined to $X in 2022 estimated in export price. In general, production saw a perceptible reduction. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Wooden Office Furniture Exports

Exports from Panama

In 2022, approx. X units of wooden furniture of a kind used in offices were exported from Panama; waning by X% compared with the previous year. In general, exports saw a dramatic descent. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, wooden office furniture exports dropped sharply to $X in 2022. Overall, exports continue to indicate a precipitous slump. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for wooden office furniture exports from Panama, with a X% share of total exports. Moreover, wooden office furniture exports to the United States exceeded the volume sent to the second major destination, British Indian Ocean Territory (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: British Indian Ocean Territory (X% per year) and Free Zones (X% per year).

In value terms, the United States ($X) emerged as the key foreign market for wooden furniture of a kind used in offices exports from Panama, comprising X% of total exports. The second position in the ranking was taken by British Indian Ocean Territory ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: British Indian Ocean Territory (X% per year) and Free Zones (X% per year).

Export Prices by Country

In 2022, the average wooden office furniture export price amounted to $X per unit, with an increase of X% against the previous year. Overall, export price indicated a modest expansion 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, wooden office furniture export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Free Zones ($X per unit), while the average price for exports to the United States ($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 Free Zones (X%), while the prices for the other major destinations experienced mixed trend patterns.

Wooden Office Furniture Imports

Imports into Panama

In 2022, approx. X units of wooden furniture of a kind used in offices were imported into Panama; reducing by X% against the previous year's figure. Over the period under review, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, wooden office furniture imports reached $X in 2022. Overall, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of wooden office furniture to Panama, with a X% share of total imports. Moreover, wooden office furniture imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. South Korea (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and South Korea (X% per year).

In value terms, China ($X) constituted the largest supplier of wooden furniture of a kind used in offices to Panama, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and South Korea (X% per year).

Import Prices by Country

The average wooden office furniture import price stood at $X per unit in 2022, increasing by X% against the previous year. In general, import price indicated notable growth 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. The growth pace was the most rapid in 2014 when the average import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Costa Rica ($X per unit) and the United States ($X per unit), while the price for Malaysia ($X per unit) and South Korea ($X per unit) were 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 a decline.

Source: IndexBox Platform

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