Price for Cutlery; Other than Plated with Precious Metal in Panama - 2023
Contents:
- Price for Cutlery; Other than Plated with Precious Metal in Panama (CIF) - 2023
- Price for Cutlery; Other than Plated with Precious Metal in Panama (FOB) - 2022
- Imports of Cutlery; Other than Plated with Precious Metal in Panama
- Exports of Cutlery; Other than Plated with Precious Metal in Panama
Price for Cutlery; Other than Plated with Precious Metal in Panama (CIF) - 2023
In November 2023, the average import price for cutlery; other than plated with precious metals amounted to $7,756 per ton, surging by 18% against the previous month. Overall, import price indicated pronounced growth from November 2022 to November 2023: its price increased at an average monthly rate of +2.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, import price for cutlery; other than plated with precious metals increased by +32.2% against August 2023 indices. The growth pace was the most rapid in February 2023 when the average import price increased by 42% month-to-month. Over the period under review, average import prices hit record highs at $9,085 per ton in July 2023; however, from August 2023 to November 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Brazil ($12,702 per ton), while the price for China ($7,255 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Free Zones (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cutlery; Other than Plated with Precious Metal in Panama (FOB) - 2022
In 2022, the average export price for cutlery; other than plated with precious metals amounted to $4,588 per ton, with an increase of 37% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
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 Guatemala ($8,690 per ton), while the average price for exports to Belize ($1,173 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 Venezuela (+41.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cutlery; Other than Plated with Precious Metal in Panama
In 2022, approx. 184 tons of cutlery; other than plated with precious metals were imported into Panama; with a decrease of -39.6% compared with 2021. Over the period under review, imports continue to indicate a precipitous setback. The growth pace was the most rapid in 2021 with an increase of 47%.
In value terms, imports of cutlery; other than plated with precious metals reduced remarkably to $1.3M in 2022. In general, imports recorded a dramatic slump. The most prominent rate of growth was recorded in 2021 when imports increased by 76%.
| Import of Cutlery; Other than Plated with Precious Metal in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,507 | 653 | 952 | 592 | -26.8% |
| United States | 416 | 426 | 606 | 375 | -3.4% |
| Free Zones | 265 | 159 | 143 | 156 | -16.2% |
| Spain | 34.8 | 16.1 | 16.9 | 45.2 | 9.1% |
| Brazil | 107 | 76.1 | 221 | 40.7 | -27.5% |
| Peru | 87.9 | N/A | 41.3 | 23.3 | -35.8% |
| Others | 166 | 83.3 | 514 | 86.1 | -19.7% |
| Total | 2,584 | 1,413 | 2,493 | 1,318 | -20.1% |
Top Suppliers of Cutlery; Other than Plated with Precious Metal to Panama in 2022:
- China (100.4 tons)
- United States (38.9 tons)
- Free Zones (25.6 tons)
- Spain (6.3 tons)
- Brazil (4.5 tons)
- Peru (2.0 tons)
Exports of Cutlery; Other than Plated with Precious Metal in Panama
In 2022, approx. 49 tons of cutlery; other than plated with precious metals were exported from Panama; reducing by -38.6% on 2021 figures. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 68%. As a result, the exports reached the peak of 80 tons, and then shrank sharply in the following year.
In value terms, exports of cutlery; other than plated with precious metals contracted notably to $226K in 2022. In general, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +13.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +45.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 71%. As a result, the exports reached the peak of $268K, and then fell notably in the following year.
| Export of Cutlery; Other than Plated with Precious Metal in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Guyana | 18.1 | 16.1 | 72.7 | 53.5 | 43.5% |
| Jamaica | 20.5 | 17.0 | 11.2 | 45.1 | 30.1% |
| Grenada | 7.0 | 1.9 | 9.4 | 17.3 | 35.2% |
| Dominican Republic | 6.7 | 5.1 | 3.2 | 16.1 | 33.9% |
| Barbados | 0.5 | 21.8 | 13.1 | 13.7 | 201.5% |
| Costa Rica | 19.1 | 6.6 | 12.2 | 13.3 | -11.4% |
| Belize | 7.0 | 4.9 | 4.5 | 13.0 | 22.9% |
| Trinidad and Tobago | 8.9 | 5.4 | 6.9 | 9.3 | 1.5% |
| Guatemala | 20.9 | 21.5 | 17.7 | 2.5 | -50.7% |
| Brazil | N/A | 6.1 | 33.1 | 0.4 | -74.4% |
| Others | 46.9 | 50.3 | 83.7 | 41.8 | -3.8% |
| Total | 156 | 157 | 268 | 226 | 13.2% |
Top Export Markets for Cutlery; Other than Plated with Precious Metal from Panama in 2022:
- Belize (11.1 tons)
- Guyana (8.2 tons)
- Grenada (7.9 tons)
- Jamaica (6.1 tons)
- Dominican Republic (3.3 tons)
- Costa Rica (3.2 tons)
- Barbados (3.0 tons)
- Trinidad and Tobago (1.3 tons)
- Guatemala (0.3 tons)
- Brazil (0.2 tons)
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