Panama: Patent Leather Market 2024

Patent Leather Market Size in Panama

The Panamanian patent leather market declined to $X in 2022, falling by X% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Patent Leather Production in Panama

In value terms, patent leather production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X%. Patent leather production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Patent Leather Exports

Exports from Panama

In 2022, shipments abroad of patent leather, patent laminated leather and metallised leather decreased by X% to X square meters, falling for the second year in a row after three years of growth. Over the period under review, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at X square meters in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, patent leather exports amounted to $X in 2022. Overall, exports saw a slight curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X square meters), the Dominican Republic (X square meters) and Venezuela (X square meters) were the main destinations of patent leather exports from Panama.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for patent leather exported from Panama were Colombia ($X), the Dominican Republic ($X) and Venezuela ($X).

Among the main countries of destination, Colombia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average patent leather export price amounted to $X per square meter, almost unchanged from the previous year. Over the period under review, the export price posted resilient growth. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per square meter in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per square meter), while the average price for exports to Colombia ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (X%), while the prices for the other major destinations experienced mixed trend patterns.

Patent Leather Imports

Imports into Panama

After two years of decline, overseas purchases of patent leather, patent laminated leather and metallised leather increased by X% to X square meters in 2022. Overall, imports, however, continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Imports peaked at X square meters in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, patent leather imports dropped rapidly to $X in 2022. Over the period under review, imports, however, recorded a sharp reduction. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X square meters) was the main patent leather supplier to Panama, accounting for a X% share of total imports. Moreover, patent leather imports from China exceeded the figures recorded by the second-largest supplier, Free Zones (X square meters), twofold.

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

In value terms, China ($X), Free Zones ($X) and Italy ($X) were the largest patent leather suppliers to Panama.

Among the main suppliers, Free Zones, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average patent leather import price stood at $X per square meter in 2022, waning by X% against the previous year. Overall, the import price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. The import price peaked at $X per square meter in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

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

Source: IndexBox Platform

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