Panama: Market for Brooms, Brushes, And Mops 2024

Market Size for Brooms, Brushes, And Mops in Panama

The Panamanian broom, brush, and mop market declined sharply 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). In general, consumption, however, showed buoyant growth. Over the period under review, the market attained the peak level at $X in 2021, and then fell markedly in the following year.

Exports of Brooms, Brushes, And Mops

Exports from Panama

For the third year in a row, Panama recorded decline in shipments abroad of brooms, brushes, and mops, which decreased by X% to X units in 2022. In general, exports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, broom, brush, and mop exports totaled $X in 2022. Over the period under review, exports faced a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X units) was the main destination for broom, brush, and mop exports from Panama, with a X% share of total exports. Moreover, broom, brush, and mop exports to Venezuela exceeded the volume sent to the second major destination, Costa Rica (X units), twofold. The third position in this ranking was held by Colombia (X units), with a X% share.

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

In value terms, Venezuela ($X), British Indian Ocean Territory ($X) and the United States ($X) constituted the largest markets for broom, brush, and mop exported from Panama worldwide, together accounting for X% of total exports.

Among the main countries of destination, British Indian Ocean Territory, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average broom, brush, and mop export price amounted to $X per unit, remaining relatively unchanged against the previous year. In general, the export price showed prominent growth. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was British Indian Ocean Territory ($X per unit), while the average price for exports to the Dominican Republic ($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 Cuba (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Brooms, Brushes, And Mops

Imports into Panama

For the third year in a row, Panama recorded decline in supplies from abroad of brooms, brushes, and mops, which decreased by X% to X units in 2022. Overall, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, broom, brush, and mop imports shrank notably to $X in 2022. In general, imports showed a slight descent. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest broom, brush, and mop supplier to Panama, with a X% share of total imports. Moreover, broom, brush, and mop imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. The third position in this ranking was taken by Guatemala (X units), with a X% share.

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

In value terms, China ($X) constituted the largest supplier of brooms, brushes, and mops to Panama, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Free Zones, with a X% share.

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

Import Prices by Country

In 2022, the average broom, brush, and mop import price amounted to $X per unit, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per unit) and Free Zones ($X per unit), while the price for Vietnam ($X per unit) and Guatemala ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform