Non coniferous roundwood market in Panama

Earlier Report Observations

The market for non-coniferous roundwood in Panama remained relatively stable from 2018 to 2019, with volumes around 1.1 million m³. This period was characterized by growing demand for sawn timber in construction and furniture manufacturing, supported by the presence of state-owned and private companies like Panamaderas S.A. and investments in wood immunization and drying technologies at local sawmills.

The COVID-19 pandemic in 2020 increased demand for sawn timber used in packaging and construction, which helped limit the market decline. However, in 2021, market volume fell sharply to 965 thousand m³, even as demand for sawn timber rose significantly, reaching 20.60% of requests on specialized platforms. Digital platforms gained prominence, connecting suppliers with buyers more efficiently.

A price crisis and soaring demand for pallets and packaging materials drove a sharp increase in sawn timber needs by 2022, revitalizing the roundwood market. Volume recovered to 984 thousand m³ in 2022 and jumped to 1.13 million m³ in 2023, supported by sustained operations of local sawmills and continued preference for treated, certified wood in industrial applications.

Production non coniferous roundwood in Panama

In kind, 2017-2020, K m³

Top producers of non coniferous roundwood, 2017-2020

World map of production of non coniferous roundwood, 2017-2020

Panama's non-coniferous roundwood production declined for the second year in a row. In 2020, the country produced 1 376 K m³, which represents a slight decrease of 1.0% compared to 2019. The largest decline occurred in 2019, at 1.0%, while the largest increase was recorded in 2018, at 1.1%. Production peaked in 2018, reaching 1 405 K m³.

Annual dynamics of production in Panama in kind, 2017-2020, K m³

In value, 2017-2020, M $ US

Panama's non-coniferous roundwood production value also fell for the second consecutive year. In 2020, output was valued at 173.4 M $ US, down 9.8% year-over-year. Over the 2017-2020 period, production decreased by 22%, with a compound annual growth rate (CAGR) of -7.9%. The largest decline was in 2019, at 13.8%, while the largest increase was in 2018, at 0.4%. The highest value was recorded in 2018, at 223.1 M $ US.

Annual dynamics of production in Panama in value, 2017-2020, M $ US

Exports non coniferous roundwood from Panama

Exports in kind, K m³

In 2020, Panama's non-coniferous roundwood exports reached 268.6 K m³, marking a 4.8% increase compared to 2019. Over the 2017-2020 period, exports grew by 7.4%, with a CAGR of 2.4%. The largest decline occurred in 2019, at 10.3%, while the largest increase was in 2018, at 14.3%. Exports peaked in 2018, at 285.8 K m³.

Annual dynamics of product's exports from Panama in kind, 2017-2020, K m³

From 2017 to 2020, India was the dominant buyer of non-coniferous roundwood from Panama, accounting for 94.5% of total exports in volume terms.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Panama in kind, 2017-2020

Exports in value, K $ US

Panama's non-coniferous roundwood export value declined for the second consecutive year. In 2020, exports stood at 33 850 K $ US, showing a modest decrease of 4.5% from the previous year. Over the 2017-2020 period, exports fell by 15.3%, with a CAGR of -5.4%. The largest decline was in 2019, at 21.9%, while the largest increase was in 2018, at 13.6%. The peak value was recorded in 2018, at 45 395 K $ US.

Annual dynamics of product's exports from Panama in value, 2017-2020, K $ US

Throughout 2017-2020, India concentrated 87.5% of Panama's non-coniferous roundwood exports in value terms, with the remaining share distributed among various other countries.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Panama in value, 2017-2020

Imports non coniferous roundwood to Panama

Imports in kind, K m³

Panama's non-coniferous roundwood imports showed significant fluctuations during the period. In 2020, imports reached 0.0 K m³, representing a steep decline of 94.4% compared to 2019. The largest increase occurred in 2018, at 402.9%. Imports peaked in 2018 at 0.5 K m³ and hit their lowest point in 2020, with a 29-fold difference between these years.

Annual dynamics of product's imports to Panama in kind, 2017-2020, K m³

From 2017 to 2020, the main sources for Panama's non-coniferous roundwood imports in volume terms were South Africa (46.2%), the United States (33.4%), and Brazil (16.4%), together accounting for 96.0% of total imports.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Panama in kind, 2017-2020

Imports in value, K $ US

Panama's non-coniferous roundwood import value experienced notable fluctuations. In 2020, imports amounted to 65 K $ US, an abrupt fall of 71.5% from the previous year. The largest increase was recorded in 2019, at 191.7%. Imports peaked in 2019 at 229 K $ US and bottomed in 2020, with a 3.5-fold difference between these years.

Annual dynamics of product's imports to Panama in value, 2017-2020, K $ US

In 2017-2020, the United States and Brazil led Panama's non-coniferous roundwood imports in value terms, together accounting for 87.2% of total flows, while other partners played a supplementary role.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Panama in value, 2017-2020