Price for Electric Motors; of an Output Not Exceeding 37.5W in Panama - 2022
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Panama (CIF) - 2022
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Panama (FOB) - 2022
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in Panama
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in Panama
Price for Electric Motors; of an Output Not Exceeding 37.5W in Panama (CIF) - 2022
In 2022, the average import price for electric motors amounted to $25 per unit, surging by 5% against the previous year. Overall, the import price, however, recorded a abrupt descent. The growth pace was the most rapid in 2015 an increase of 45% against the previous year. As a result, import price attained the peak level of $79 per unit. From 2016 to 2022, the average 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 the United States ($87 per unit), while the price for Spain ($2.3 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.7%), while the prices for the other major suppliers experienced a decline.
Price for Electric Motors; of an Output Not Exceeding 37.5W in Panama (FOB) - 2022
In 2022, the average export price for electric motors amounted to $84 per unit, which is down by -12.3% against the previous year. In general, the export price recorded a deep reduction. The pace of growth appeared the most rapid in 2014 an increase of 76% against the previous year. Over the period under review, the average export prices reached the peak figure at $271 per unit in 2012; however, from 2013 to 2022, the 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 the UK ($244 per unit), while the average price for exports to India ($16 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 Mexico (-3.8%), while the prices for the other major destinations experienced a decline.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in Panama
In 2022, imports of electric motors into Panama soared to 610K units, jumping by 304% on 2021. Overall, imports showed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of electric motors skyrocketed to $15M in 2022. In general, imports showed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 319 | 53.5 | 541 | 10,044 | 215.8% |
| United States | 1,897 | 1,055 | 1,169 | 2,725 | 12.8% |
| Free Zones | 134 | 937 | 552 | 572 | 62.2% |
| China | 228 | 149 | 204 | 558 | 34.8% |
| France | 434 | 28.7 | 159 | 109 | -36.9% |
| Mexico | 82.5 | 21.5 | 34.5 | 56.7 | -11.8% |
| Japan | 813 | 15.6 | 38.2 | 45.8 | -61.7% |
| Taiwan (Chinese) | 4.8 | 469 | 408 | 1.9 | -26.6% |
| Others | 346 | 749 | 418 | 835 | 34.1% |
| Total | 4,257 | 3,480 | 3,523 | 14,947 | 52.0% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to Panama in 2022:
- Germany (477.4K units)
- United States (31.5K units)
- Free Zones (27.2K units)
- China (26.5K units)
- Mexico (9.4K units)
- France (6.6K units)
- Japan (2.2K units)
- Taiwan (Chinese) (0.1K units)
Exports of Electric Motors; of an Output Not Exceeding 37.5W in Panama
In 2022, approx. 3.4K units of electric motors were exported from Panama; surging by 12% compared with 2021 figures. Overall, total exports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +16.8% 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 +60.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 44% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in years to come.
In value terms, exports of electric motors reduced slightly to $290K in 2022. The total export value increased at an average annual rate of +9.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 35%. As a result, the exports attained the peak of $295K, and then dropped slightly in the following year.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in Panama (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 5.7 | 47.2 | 69.8 | 75.8 | 136.9% |
| Haiti | 0.5 | 43.8 | 62.8 | 66.1 | 409.4% |
| United Kingdom | 11.7 | N/A | N/A | 27.8 | 33.4% |
| Costa Rica | 16.9 | 12.5 | 20.8 | 18.9 | 3.8% |
| Guatemala | 5.8 | 0.1 | 31.9 | 16.0 | 40.2% |
| India | 19.8 | 22.7 | 22.8 | 15.7 | -7.4% |
| Chile | 0.6 | 6.7 | 11.1 | 15.0 | 192.4% |
| United States | 1.1 | 8.7 | 11.7 | 11.4 | 118.0% |
| Cuba | 53.7 | 4.0 | 6.1 | 6.8 | -49.8% |
| Dominican Republic | 31.2 | 0.8 | 12.9 | 6.8 | -39.8% |
| Jamaica | 2.7 | 2.3 | 1.5 | 1.7 | -14.3% |
| Colombia | 0.2 | 0.1 | 0.9 | 1.6 | 100.0% |
| Others | 71.0 | 69.4 | 43.0 | 26.6 | -27.9% |
| Total | 221 | 218 | 295 | 290 | 9.5% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from Panama in 2022:
- India (977.0 units)
- Chile (674.0 units)
- Mexico (470.0 units)
- Haiti (409.0 units)
- Dominican Republic (118.0 units)
- Costa Rica (117.0 units)
- United Kingdom (114.0 units)
- Guatemala (100.0 units)
- Colombia (88.0 units)
- Jamaica (72.0 units)
- United States (71.0 units)
- Cuba (43.0 units)
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