Panama Exports: Teak

In Panama, 98% of wood-related exports come mostly from teak, a species that is not native, confirmed Bianca Morán, president of the Panamanian Association of Exporters (Apex).  “98% of what Panama exports is teak.  We are talking about between 7 and 10, 40-foot containers per year with a value of more than $30 million,”  Morán reported, during a meeting with journalists, this Tuesday, June 25. 

The accumulated hectares that exist reach 80 thousand hectares of forest plantations, reported the president of Apex.  Although teak continues to be one of the largest export items in the country, Morán clarified that the activity “has been fluctuating,” since it depends greatly on the demand in the market.  “Teak is a commodity as are copper and gold.  So, it depends on the demand in the market.  For example, this year in Europe, one of our largest markets is experiencing an economic recession,” she stressed. 

Teak is a species of wood that is mostly used to create outdoor furniture.  Its high presence in Panama has caused the country to be classified as one of the largest certified producers in the region.  To continue taking advantage of these benefits, the president of Apex called for promoting the arrival of more certified forestry investors.