Panama: Flax Fabric Market 2024

Flax Fabric Market Size in Panama

The Panamanian flax fabric market contracted remarkably to $X in 2022, waning by X% against the previous year. In general, consumption faced a abrupt curtailment. The growth pace was the most rapid in 2021 with a decrease of X% against the previous year. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Flax Fabric Production in Panama

In value terms, flax fabric production surged to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep setback. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Flax Fabric Exports

Exports from Panama

In 2022, overseas shipments of woven fabrics of flax decreased by X% to X square meters for the first time since 2011, thus ending a ten-year rising trend. Over the period under review, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of X square meters, and then shrank in the following year.

In value terms, flax fabric exports contracted significantly to $X in 2022. In general, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The UK (X square meters), the Dominican Republic (X square meters) and Canada (X square meters) were the main destinations of flax fabric exports from Panama, together comprising X% of total exports. Sweden, Spain, South Africa and Jamaica lagged somewhat behind, together accounting for a further X%.

From 2020 to 2022, the biggest increases were recorded for Sweden (with a CAGR of X.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Dominican Republic ($X) emerged as the key foreign market for woven fabrics of flax exports from Panama, comprising X% of total exports. The second position in the ranking was held by the UK ($X), with a X% share of total exports. It was followed by Jamaica, with a X% share.

From 2020 to 2022, the average annual growth rate of value to the Dominican Republic stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Jamaica (X% per year).

Export Prices by Country

The average flax fabric export price stood at $X per square meter in 2022, which is down by X% against the previous year. In general, the export price recorded a sharp shrinkage. The growth pace was the most rapid in 2021 when the average export price decreased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per square meter in 2020; however, from 2021 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 Jamaica ($X per square meter), while the average price for exports to Sweden ($X per square meter) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (X%), while the prices for the other major destinations experienced mixed trend patterns.

Flax Fabric Imports

Imports into Panama

In 2022, the amount of woven fabrics of flax imported into Panama soared to X square meters, rising by X% against 2021 figures. Over the period under review, imports showed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, flax fabric imports skyrocketed to $X in 2022. Overall, imports, however, saw a deep slump. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Free Zones (X square meters), China (X square meters) and Turkey (X square meters) were the main suppliers of flax fabric imports to Panama, together accounting for X% of total imports.

From 2020 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest flax fabric suppliers to Panama were Free Zones ($X), China ($X) and Turkey ($X), together comprising X% of total imports.

Turkey, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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 flax fabric import price stood at $X per square meter in 2022, declining by X% against the previous year. Over the period under review, the import price recorded a abrupt contraction. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per square meter, and then reduced remarkably in the following year.

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

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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