Panama: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Panama

The Panamanian wooden bedroom furniture market reduced to $X in 2022, which is down by X% against the previous year. In general, consumption, however, saw a notable increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Wooden Bedroom Furniture Production in Panama

In value terms, wooden bedroom furniture production shrank to $X in 2022 estimated in export price. In general, production, however, saw temperate growth. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Wooden Bedroom Furniture Exports

Exports from Panama

In 2022, wooden bedroom furniture exports from Panama soared to X units, rising by X% against 2021 figures. In general, exports, however, continue to indicate a abrupt slump. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, wooden bedroom furniture exports surged to $X in 2022. Overall, exports, however, recorded a abrupt downturn. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for wooden bedroom furniture exports from Panama, with a X% share of total exports. Moreover, wooden bedroom furniture exports to the United States exceeded the volume sent to the second major destination, the Dominican Republic (X units), more than tenfold. Mexico (X units) ranked third in terms of total exports with a X% share.

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

In value terms, the United States ($X) remains the key foreign market for wooden furniture of a kind used in the bedroom exports from Panama, comprising X% of total exports. The second position in the ranking was held by the Dominican Republic ($X), with a X% share of total exports. It was followed by Mexico, with a X% share.

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

Export Prices by Country

In 2022, the average wooden bedroom furniture export price amounted to $X per unit, jumping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($X per unit), while the average price for exports to El Salvador ($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 Costa Rica (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Bedroom Furniture Imports

Imports into Panama

In 2022, the amount of wooden furniture of a kind used in the bedroom imported into Panama dropped significantly to X units, reducing by X% compared with 2021 figures. Overall, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, wooden bedroom furniture imports fell to $X in 2022. In general, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Italy (X units), Brazil (X units) and Malaysia (X units) were the main suppliers of wooden bedroom furniture imports to Panama, with a combined X% share of total imports.

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

In value terms, the largest wooden bedroom furniture suppliers to Panama were Italy ($X), Brazil ($X) and Malaysia ($X), together accounting for X% of total imports.

Brazil, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wooden bedroom furniture import price stood at $X per unit in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($X per unit) and Free Zones ($X per unit), while the price for Spain ($X per unit) and Ecuador ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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