Wood charcoal market in Panama

Earlier Report Observations

The market volume for wood charcoal in Panama fluctuated between 5 320 t and 5 704 t from 2018 to 2023. After a peak of 5 704 t in 2019, consumption fell to 5 320 t in 2020, then recovered to 5 691 t in 2021. A slight decline to 5 479 t followed in 2022 before the market reached 5 664 t in 2023, while domestic production grew steadily from 5 160 t to 5 193 t over the period.

In December 2021, Executive Decree No. 142 established Panama's National Carbon Market, creating a framework for greenhouse gas emission reductions. This regulatory development indirectly influenced the wood charcoal sector by promoting sustainable forest management and low-emission energy sources. Further steps in 2024, including a pilot project for the carbon market and plans for a Panamanian Carbon Exchange, continued to shape the environmental policy context surrounding charcoal production and consumption.

Production wood charcoal in Panama

In kind, 2017-2020, t

Top producers of wood charcoal, 2017-2020

World map of production of wood charcoal, 2017-2020

Panama's wood charcoal production increased for the third consecutive year. In 2020, the country produced 5 175 tons of wood charcoal, showing no significant change from 2019.

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

In value, 2017-2020, K $ US

In 2020, Panama's wood charcoal output was valued at 3 021 thousand US dollars, up 1.8% from 2019. Over the 2017-2020 period, production grew by 20.7%, with a compound annual growth rate of 6.5%. The largest decline occurred in 2019 at 0.8%, while the largest increase was recorded in 2018 at 19.5%.

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

Exports wood charcoal from Panama

Exports in kind, t

Export volumes showed significant volatility during this period. In 2019, exports reached their lowest point at 54.5 tons, then surged to 271.6 tons in 2020, representing a 398.7% increase year-over-year. This created a fivefold difference between the two years. The largest decline was recorded in 2019 at 74.6%.

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

From 2017 to 2020, the Dominican Republic accounted for 51.9% of Panama's wood charcoal exports by volume, followed by Canada at 13.8% and Venezuela at 6.8%. Together, these three countries represented 72.5% of Panama's total wood charcoal 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

Export values exhibited an unstable trend throughout the period. In 2019, exports reached their minimum at 31.3 thousand US dollars, then jumped to 158.5 thousand US dollars in 2020, marking a 407.1% year-over-year increase. This represented a 5.1-fold difference between the two years. The largest decline occurred in 2019 at 74.8%.

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

From 2017 to 2020, the Dominican Republic accounted for 51.6% of Panama's wood charcoal exports by value, Canada for 14.5%, and Venezuela for 6.9%. These three markets together represented 73.0% of Panama's total wood charcoal export value.

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

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

Imports wood charcoal to Panama

Imports in kind, t

Panama's wood charcoal imports declined for the second consecutive year. In 2020, imports reached 416.3 tons, marking a steep 29.5% decrease from the previous year. Between 2017 and 2020, imports fell by 25.9%, equivalent to an annualized decline of 9.5%. The highest import volume was recorded in 2018 at 717.0 tons, which represented a 27.7% increase from the previous year.

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

From 2017 to 2020, the United States accounted for 24.8% of Panama's wood charcoal imports by volume, Venezuela for 17.0%, and Nicaragua for 10.9%. Together, these three countries represented 52.6% of Panama's total wood charcoal import flows.

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 wood charcoal imports declined for the second consecutive year. In 2020, imports were valued at 427.3 thousand US dollars, down 12.0% from the previous year. Between 2017 and 2020, import values decreased by 21.7%, equivalent to an annualized decline of 7.8%. The highest value was recorded in 2018 at 607.2 thousand US dollars, which represented an 11.3% increase from the previous year. The largest decline occurred in 2019 at 20.1%.

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

From 2017 to 2020, the United States accounted for 42.2% of Panama's wood charcoal imports by value, Venezuela for 11.1%, and Indonesia for 8.5%. These three suppliers together represented 61.8% of Panama's total wood charcoal import value.

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

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