Myanmar: Twig Broom Market 2024

Twig Broom Market Size in Myanmar

In 2021, after two years of growth, there was significant decline in the Myanmar's twig broom market, when its value decreased by -62.8% to $X. Overall, consumption recorded a deep slump. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Twig Broom Production in Myanmar

In value terms, twig broom production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 38% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then dropped in the following year.

Twig Broom Exports

Exports from Myanmar

In 2021, shipments abroad of brooms and brushes of twigs was finally on the rise to reach X units after three years of decline. In general, exports saw a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 152% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, twig broom exports soared to $X in 2021. Over the period under review, exports posted a remarkable increase. The pace of growth appeared the most rapid in 2015 when exports increased by 71%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Pakistan (X units), India (X units) and Malaysia (X units) were the main destinations of twig broom exports from Myanmar, with a combined 78% share of total exports. These countries were followed by South Korea, Thailand, China, Bangladesh and Singapore, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +63.1%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Malaysia ($X) and India ($X) constituted the largest markets for twig broom exported from Myanmar worldwide, with a combined 77% share of total exports. These countries were followed by Pakistan, Bangladesh, Thailand, China and Singapore, which together accounted for a further 22%.

Among the main countries of destination, Thailand, with a CAGR of +54.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average twig broom export price amounted to $X per unit, falling by -12.7% against the previous year. Over the period under review, the export price saw a deep reduction. The pace of growth appeared the most rapid in 2013 an increase of 55% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+5.8%), while the prices for the other major destinations experienced mixed trend patterns.

Twig Broom Imports

Imports into Myanmar

After five years of growth, supplies from abroad of brooms and brushes of twigs decreased by -33.6% to X units in 2021. Overall, imports showed a noticeable reduction. The most prominent rate of growth was recorded in 2020 with an increase of 75%. As a result, imports attained the peak of X units, and then contracted sharply in the following year.

In value terms, twig broom imports reduced sharply to $X in 2021. Over the period under review, imports saw a deep setback. The pace of growth appeared the most rapid in 2018 when imports increased by 43% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of twig broom to Myanmar, accounting for a 88% share of total imports. Moreover, twig broom imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), tenfold. The third position in this ranking was taken by Malaysia (X units), with a 1% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-19.6% per year) and Malaysia (-12.5% per year).

In value terms, China ($X) constituted the largest supplier of brooms and brushes of twigs to Myanmar, comprising 83% of total imports. The second position in the ranking was held by Thailand ($X), with an 11% share of total imports. It was followed by Malaysia, with a 1.4% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-23.0% per year) and Malaysia (-18.8% per year).

Import Prices by Country

In 2021, the average twig broom import price amounted to $X per unit, reducing by -11.2% against the previous year. Over the period under review, the import price continues to indicate a pronounced downturn. The growth pace was the most rapid in 2018 when the average import price increased by 22%. Over the period under review, average import prices attained the maximum at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+117.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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