Pig offal market in Panama

Earlier Report Observations

Between 2018 and 2020, the pig offal market in Panama experienced significant volatility. The market volume fell sharply from 2 376 tons to 1 378 tons in 2019, partly due to increased exports to Mercosur countries driven by trade agreements, which reduced domestic availability. In 2020, the COVID-19 pandemic disrupted export logistics and demand, leading to a contraction in shipments abroad and allowing the domestic market volume to recover to 1 461 tons.

From 2021 to 2023, the market showed a recovery trend, peaking at 1 937 tons in 2022 before falling to 1 647 tons in 2023. The growth in 2021 and 2022 was supported by rising domestic production, which reached 1 777 tons in 2022. The decline in 2023 was primarily due to a sharp contraction in imports, which dropped from 356 tons to 55 tons.

Production pig offal in Panama

In kind, 2017-2020, t

Top producers of pig offal, 2017-2020

World map of production of pig offal, 2017-2020

In Panama, pig offal production reached 1 418 tonnes in 2020, marking a moderate year-over-year increase of 3.6%. Looking at the period from 2017 to 2020, overall production declined by 32.2%, with a compound annual growth rate of -12.2%. The lowest production level was recorded in 2019 at 1 369 tonnes, while the peak occurred in 2018 with 2 279 tonnes. The most significant drop in production happened in 2019, falling by 39.9%, whereas the largest increase was observed in 2018, rising by 8.9%.

Annual dynamics of production in Panama in kind, 2017-2020, t

In value, 2017-2020, K $ US

The value of pig offal production in Panama stood at 2 921 thousand US dollars in 2020, reflecting a strong year-over-year growth of 12.5%. Over the 2017-2020 period, production value decreased by 26.5%, with a compound annual growth rate of -9.8%. The minimum value was recorded in 2019 at 2 596 thousand US dollars, while the maximum was reached in 2018 at 4 435 thousand US dollars. The most substantial decline occurred in 2019, dropping by 41.5%.

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

Exports pig offal from Panama

Exports in kind, t

Market performance showed noticeable fluctuations during this period. Panama's exports of pig offal reached their lowest point in 2020 at 7.8 tonnes, representing a sharp contraction of 90.3% compared to the previous year. The peak occurred in 2019 with 80.1 tonnes, resulting in a 10.3-fold difference between these two years. The largest increase was recorded in 2019, surging by 211.9%.

Annual dynamics of product's exports from Panama in kind, 2017-2020, t

From 2017 to 2020, El Salvador, Guatemala, and the Dominican Republic consistently held the top positions in Panama's pig offal export structure by volume. El Salvador accounted for 51.6% of exports, Guatemala for 27.5%, and the Dominican Republic for 8.5%. Together, these three countries represented 87.5% of total export flows.

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

The market exhibited an unstable trend throughout this timeframe. Panama's pig offal export value bottomed out in 2020 at 16.0 thousand US dollars, showing a sharp decline of 89.5% year-over-year. The peak was reached in 2019 at 151.9 thousand US dollars, creating a 9.5-fold difference between these years. The largest increase occurred in 2019, rising by 203.9%.

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

During the 2017-2020 period, two key markets—El Salvador and Guatemala—dominated Panama's pig offal exports in value terms, jointly accounting for 81.7% of total exports. The remaining export value was distributed across a diverse range of 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 pig offal to Panama

Imports in kind, t

Market behavior was characterized by volatility during these years. Panama's imports of pig offal reached 50.9 tonnes in 2020, showing a steep decline of 42.9% compared to the previous year. The lowest import volume was recorded in 2017, while the peak occurred in 2018 at 122.7 tonnes, resulting in a 2.7-fold variation between these years. The largest increase was observed in 2018, rising by 167.5%.

Annual dynamics of product's imports to Panama in kind, 2017-2020, t

From 2017 to 2020, the United States remained Panama's leading supplier of pig offal by volume, accounting for 70.7% of total imports. The remainder was spread across numerous other countries.

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

Noticeable fluctuations marked market performance during this period. Panama's imports of pig offal in value terms reached 340.7 thousand US dollars in 2020, constituting a significant decrease of 12.6% year-over-year. The lowest value was recorded in 2017, while the peak occurred in 2019 at 389.9 thousand US dollars, showing a 1.8-fold variation. The largest increase was recorded in 2018, rising by 75.9%.

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

Throughout the 2017-2020 period, the United States was the primary supplier of pig offal to Panama in value terms, capturing 84.7% of total imports. Other trading partners held relatively modest shares in comparison.

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

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