Electronics market in Panama

The Panamanian Electronics eCommerce market is predicted to reach US$266.1 million by 2024 and accounts for 24.1% of the total eCommerce market in Panama. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 3.2%, resulting in a projected market volume of US$301.4 million by 2028. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.

Market development

eCommerce revenue development in the Electrical Appliances market in Panama

The Panamanian Electrical Appliances eCommerce market is predicted to reach US$76.5 million by 2024 and accounts for 28.7% of the Electronics eCommerce market in Panama. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 5.4%, resulting in a projected market volume of US$94.3 million by 2028. The Electrical Appliances eCommerce market is a sub-market of the Electronics market. Further categories within the Electronics market are: Consumer Electronics.

eCommerce revenue development in the Electrical Appliances market in Panama

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Electrical Appliances market in Panama

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

201720182019202020212022202320242025202620272028
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)21.019.43.331.951.725.810.744.4
as of Electronics (in %)10.610.510.69.99.89.99.89.69.59.49.39.1

Online share

eCommerce online share of the total Electrical Appliances market in Panama

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Panamanian Electrical Appliances retail market, the online share is 26.9% and will increase by an average of 8.9% to 37.8% by 2028.

eCommerce online share of the total Electrical Appliances market in Panama

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)13.5%99.1%45.3%35.1%82.5%78.7%85.4%24.6%

Market definition

Definition of the Electrical Appliances market within the Electronics market

Market definition: Electronics > Electrical Appliances The category Electrical Appliances covers the sale of household appliances (e.g. washing machines, dishwashers, vacuum cleaners, air conditioners), kitchen appliances (e.g. refrigerators, ovens, coffee machines, toasters) and personal care appliances (e.g. hair dryers, electric toothbrushes, electric shavers). This category does not cover consumer electronics (e.g. TVs, computers, printers) and lamps. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Household appliances (e.g. washing machines, dishwashers, vacuum cleaners, air conditioners)
  • Kitchen appliances (e.g. refrigerators, ovens, coffee machines, toasters)
  • Personal care appliances (e.g. hair dryers, electric toothbrushes, electric shavers)

Out-of-scope

  • Consumer electronics (e.g. TVs, computers, printers)
  • Lamps

Market comparison

The Panamanian Electrical Appliances market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis

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