Panama: Market for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters 2024

Market Size for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters in Panama

In 2022, the Panamanian electric oven and cooker market increased by X% to $X for the first time since 2017, thus ending a four-year declining trend. Overall, consumption saw a abrupt decline. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Exports from Panama

In 2022, overseas shipments of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters decreased by X% to X units for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of X units, and then fell dramatically in the following year.

In value terms, electric oven and cooker exports shrank to $X in 2022. Over the period under review, exports faced a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Guyana (X units) was the main destination for electric oven and cooker exports from Panama, with a X% share of total exports. Moreover, electric oven and cooker exports to Guyana exceeded the volume sent to the second major destination, Trinidad and Tobago (X units), sixfold. The third position in this ranking was held by the United States (X units), with a X% share.

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

In value terms, Guyana ($X), Costa Rica ($X) and Jamaica ($X) were the largest markets for electric oven and cooker exported from Panama worldwide, with a combined X% share of total exports. Barbados, Aruba, the United States, Trinidad and Tobago and Chile lagged somewhat behind, together comprising a further X%.

Barbados, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average electric oven and cooker export price amounted to $X per unit, jumping by X% against the previous year. In general, the export price, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2017 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Barbados ($X per unit), while the average price for exports to Guyana ($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 Trinidad and Tobago (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Imports into Panama

For the third consecutive year, Panama recorded decline in purchases abroad of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters, which decreased by X% to X units in 2022. Over the period under review, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, electric oven and cooker imports fell to $X in 2022. In general, imports continue to indicate a deep setback. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Free Zones (X units) constituted the largest supplier of electric oven and cooker to Panama, accounting for a X% share of total imports. Moreover, electric oven and cooker imports from Free Zones exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. China (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Free Zones totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and China (X% per year).

In value terms, Free Zones ($X) constituted the largest supplier of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters to Panama, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Free Zones totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average electric oven and cooker import price amounted to $X per unit, with an increase of X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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