Panama: Plaits And Basketwork Market 2024

Plaits And Basketwork Market Size in Panama

In 2022, the Panamanian plaits and basketwork market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in the near future.

Plaits And Basketwork Production in Panama

In value terms, plaits and basketwork production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated temperate growth from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Plaits And Basketwork Exports

Exports from Panama

In 2022, overseas shipments of plaits, basketwork, wickerwork and similar products of plaiting materials were finally on the rise to reach X tons after two years of decline. Overall, exports, however, saw a sharp decline. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, plaits and basketwork exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a dramatic contraction. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Aruba (X kg), Jamaica (X kg) and Bahamas (X kg) were the main destinations of plaits and basketwork exports from Panama, with a combined X% share of total exports. Grenada, the United States, Ecuador and Guatemala lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Grenada (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, Aruba ($X) emerged as the key foreign market for plaits, basketwork, wickerwork and similar products of plaiting materials exports from Panama, comprising X% of total exports. The second position in the ranking was held by Jamaica ($X), with a X% share of total exports. It was followed by Bahamas, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Aruba amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (X% per year) and Bahamas (X% per year).

Export Prices by Country

In 2022, the average plaits and basketwork export price amounted to $X per ton, surging by X% against the previous year. Overall, export price indicated a measured 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, plaits and basketwork export price decreased by X% against 2019 indices. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plaits And Basketwork Imports

Imports into Panama

In 2022, plaits and basketwork imports into Panama skyrocketed to X tons, with an increase of X% compared with the year before. In general, imports, however, saw a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, plaits and basketwork imports soared to $X in 2022. Over the period under review, imports, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Colombia (X tons) and Free Zones (X tons) were the main suppliers of plaits and basketwork imports to Panama, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Free Zones (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Colombia ($X) and the United States ($X) appeared to be the largest plaits and basketwork suppliers to Panama, with a combined X% share of total imports. Free Zones, Vietnam and India lagged somewhat behind, together comprising a further X%.

Free Zones, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average plaits and basketwork import price amounted to $X per ton, surging by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

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 Vietnam ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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