Key Market Indicators
Panama experienced a significant decrease in plastic imports in 2023, with the total value falling to approximately $44 million. This marks a 17.9% decline from the $54 million recorded in 2022. The downward trend in demand for plastic imports has been evident since 2000, with a year-on-year decrease averaging 14.1%. Conversely, the country's plastic exports are on an upward trajectory. Projections indicate that by 2028, Panama's plastic exports will reach around $182 million, up from the current $166 million in 2023. This growth represents a compound annual growth rate (CAGR) of 1.5%. Since 2000, Panama's supply of plastic for export has seen a steady increase, with an average annual growth rate of 2.1%. This contrasting dynamic between import and export trends highlights significant shifts in Panama's plastic industry.
