Panama: Market for Special-Purpose Electric Lamps and Lighting Fittings 2024

Market Size for Special-Purpose Electric Lamps and Lighting Fittings in Panama

The Panamanian market for special-purpose electric lamps and lighting fittings contracted significantly to $X in 2022, which is down by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a deep slump. Consumption of peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Exports of Special-Purpose Electric Lamps and Lighting Fittings

Exports from Panama

For the third consecutive year, Panama recorded decline in overseas shipments of special-purpose electric lamps and lighting fittings, which decreased by X% to X units in 2022. Overall, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of special-purpose electric lamps and lighting fittings stood at $X in 2022. Over the period under review, exports saw a mild descent. The pace of growth was the most pronounced in 2019 when exports increased by X%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Colombia (X units) was the main destination for exports of special-purpose electric lamps and lighting fittings from Panama, accounting for a X% share of total exports. Moreover, exports of special-purpose electric lamps and lighting fittings to Colombia exceeded the volume sent to the second major destination, Costa Rica (X units), twofold. The Dominican Republic (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Colombia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (X% per year) and the Dominican Republic (X% per year).

It was followed by Costa Rica, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Colombia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (X% per year) and Costa Rica (X% per year).

Export Prices by Country

The average export price for special-purpose electric lamps and lighting fittings stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. Overall, the export price posted a resilient increase. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Ecuador ($X per unit) and Honduras ($X per unit), while the average price for exports to Guyana ($X per unit) and Nicaragua ($X per unit) were 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 more modest paces of growth.

Imports of Special-Purpose Electric Lamps and Lighting Fittings

Imports into Panama

In 2022, the amount of special-purpose electric lamps and lighting fittings imported into Panama contracted to X units, with a decrease of X% against 2021 figures. Overall, imports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports of attained the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, imports of special-purpose electric lamps and lighting fittings fell to $X in 2022. In general, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Colombia (X units) and the United States (X units) were the main suppliers of imports of special-purpose electric lamps and lighting fittings to Panama, together accounting for X% of total imports. Mexico, Free Zones, Taiwan (Chinese), Spain, Belgium and Hong Kong SAR 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 Mexico (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Mexico ($X) and the United States ($X) were the largest special-purpose electric lamp and lighting fitting suppliers to Panama, together accounting for X% of total imports.

Mexico, with a CAGR of X%, recorded 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

The average import price for special-purpose electric lamps and lighting fittings stood at $X per unit in 2022, flattening at the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 an increase of X%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for Colombia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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