Natural Sand Price in Panama - 2023

Natural Sand Price in Panama (CIF) - 2022

The average natural sand import price stood at $431 per ton in 2022, with an increase of 38% against the previous year. Over the period under review, the import price, however, showed a slight decrease. The growth pace was the most rapid in 2017 an increase of 122% against the previous year. Over the period under review, average import prices hit record highs at $736 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($1,784 per ton), while the price for Costa Rica ($92 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guyana (+32.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Natural Sand Price in Panama (FOB) - 2022

In 2022, the average natural sand export price amounted to $49 per ton, reducing by -24.9% against the previous year. In general, the export price saw a precipitous decline. The pace of growth was the most pronounced in 2019 when the average export price increased by 406%. Over the period under review, the average export prices attained the maximum at $781 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($54 per ton), while the average price for exports to Cabo Verde amounted to $38 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (-23.2%).

Natural Sand Imports in Panama

In 2022, overseas purchases of natural sands decreased by -95.6% to 43 tons, falling for the second year in a row after two years of growth. Over the period under review, imports faced a significant contraction. The most prominent rate of growth was recorded in 2020 with an increase of 5.1% against the previous year. As a result, imports attained the peak of 966 tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, natural sand imports declined notably to $18K in 2022. Overall, imports recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 5.4% against the previous year. As a result, imports attained the peak of $308K. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Import of Natural Sand in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Colombia	13.5	23.7	45.7	6.5	-21.6%
China	8.4	11.6	13.5	4.8	-17.0%
Canada	1.8	2.7	5.3	2.2	6.9%
Free Zones	6.9	6.2	14.0	1.9	-34.9%
United States	177	139	120	1.2	-81.1%
Costa Rica	21.7	10.4	43.0	0.6	-69.8%
Spain	27.8	29.2	14.7	0.4	-75.7%
Guatemala	5.7	41.7	4.7	0.3	-62.5%
Chile	2.4	17.4	4.5	N/A	36.9%
Others	27.2	26.1	34.5	0.4	-75.5%
Total	292	308	300	18.4	-60.2%

Top Suppliers of Natural Sand to Panama in 2022:

Colombia (14.6 tons)
China (7.4 tons)
Canada (6.6 tons)
Costa Rica (6.4 tons)
Free Zones (2.8 tons)
United States (2.2 tons)
Guatemala (1.3 tons)
Spain (0.2 tons)

Natural Sand Exports in Panama

In 2022, approx. 2K tons of natural sands were exported from Panama; rising by 44% against the year before. Over the period under review, exports posted a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 2,160% against the previous year. As a result, the exports reached the peak of 2.7K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, natural sand exports expanded notably to $98K in 2022. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 538%. As a result, the exports reached the peak of $157K. From 2021 to 2022, the growth of the exports remained at a lower figure.