Panama: Market for Plastics in Primary Forms 2024

Market Size for Plastics in Primary Forms in Panama

The Panamanian plastics in primary forms market amounted to $X in 2023, remaining constant against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2020 when the market value increased by X%. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2023.

Production of Plastics in Primary Forms in Panama

In value terms, plastics in primary forms production shrank to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2023, production growth remained at a somewhat lower figure.

Exports of Plastics in Primary Forms

Exports from Panama

In 2023, approx. X tons of plastics in primary formses were exported from Panama; declining by X% compared with 2022 figures. Over the period under review, exports saw a pronounced descent. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, plastics in primary forms exports dropped dramatically to $X in 2023. Overall, exports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Costa Rica (X tons) was the main destination for plastics in primary forms exports from Panama, accounting for a X% share of total exports. Moreover, plastics in primary forms exports to Costa Rica exceeded the volume sent to the second major destination, Nicaragua (X tons), threefold. The third position in this ranking was held by Guatemala (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Costa Rica totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (X% per year) and Guatemala (X% per year).

In value terms, Ecuador ($X), Costa Rica ($X) and Guatemala ($X) were the largest markets for plastics in primary forms exported from Panama worldwide, with a combined X% share of total exports. Paraguay, Peru, the Dominican Republic, Colombia, Nicaragua, the United States, El Salvador, Honduras, Tanzania and Nigeria lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Paraguay, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plastics in primary forms export price stood at $X per ton in 2023, almost unchanged from the previous year. In general, the export price showed a perceptible setback. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2023, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastics in Primary Forms

Imports into Panama

In 2023, the amount of plastics in primary formses imported into Panama surged to X tons, with an increase of X% against the previous year's figure. Overall, imports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, plastics in primary forms imports dropped slightly to $X in 2023. In general, imports saw prominent growth. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, the United States (X tons) constituted the largest plastics in primary forms supplier to Panama, accounting for a X% share of total imports. Moreover, plastics in primary forms imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Mexico (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Mexico (X% per year).

In value terms, the United States ($X) constituted the largest supplier of plastics in primary formses to Panama, comprising X% of total imports. The second position in the ranking was held by China ($X), with an X% share of total imports. It was followed by Mexico, with an X% share.

From 2012 to 2023, the average annual growth rate of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Mexico (X% per year).

Import Prices by Country

The average plastics in primary forms import price stood at $X per ton in 2023, declining by X% against the previous year. In general, the import price continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, 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 mixed trend patterns.

Source: IndexBox Platform