Panama: Electromagnetic Lifting Head Market 2024

Electromagnetic Lifting Head Market Size in Panama

The Panamanian electromagnetic lifting head market contracted to $X in 2022, waning by X% against the previous year. In general, consumption saw a relatively flat trend pattern. Electromagnetic lifting head consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Electromagnetic Lifting Head Production in Panama

In value terms, electromagnetic lifting head production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Electromagnetic Lifting Head Exports

Exports from Panama

In 2022, overseas shipments of electromagnets and electromagnetic lifting heads decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports saw a sharp shrinkage. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, electromagnetic lifting head exports reduced to $X in 2022. In general, exports showed a precipitous curtailment. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Guatemala (X tons) was the main destination for electromagnetic lifting head exports from Panama, with a X% share of total exports. Moreover, electromagnetic lifting head exports to Guatemala exceeded the volume sent to the second major destination, Costa Rica (X kg), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Guatemala stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (X% per year) and Trinidad and Tobago (X% per year).

In value terms, Guatemala ($X) remains the key foreign market for electromagnets and electromagnetic lifting heads exports from Panama, comprising X% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Guatemala amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (X% per year) and Trinidad and Tobago (X% per year).

Export Prices by Country

In 2022, the average electromagnetic lifting head export price amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price, however, showed buoyant growth. The pace of growth appeared the most rapid in 2018 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average 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 ($X per ton), while the average price for exports to Trinidad and Tobago ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electromagnetic Lifting Head Imports

Imports into Panama

In 2022, the amount of electromagnets and electromagnetic lifting heads imported into Panama skyrocketed to X tons, surging by X% against the previous year. Over the period under review, imports, however, showed a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, electromagnetic lifting head imports skyrocketed to $X in 2022. In general, imports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2018 when imports increased by X%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Australia (X tons), China (X tons) and the United States (X tons) were the main suppliers of electromagnetic lifting head imports to Panama, with a combined X% share of total imports. Mexico, Free Zones, Vietnam, Switzerland, South Korea, Hong Kong SAR and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constituted the largest supplier of electromagnets and electromagnetic lifting heads to Panama, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

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

Import Prices by Country

In 2022, the average electromagnetic lifting head import price amounted to $X per ton, jumping by X% against the previous year. Overall, the import price posted a prominent expansion. The pace of growth appeared the most rapid in 2018 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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