Myanmar: Carpet Market 2024

Carpet Market Size in Myanmar

The Myanmar's carpet market skyrocketed to $X in 2022, increasing by X% against the previous year. Overall, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Carpet Production in Myanmar

In value terms, carpet production amounted to $X in 2022 estimated in export price. Overall, production, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Carpet Exports

Exports from Myanmar

In 2022, after three years of decline, there was significant growth in shipments abroad of carpets and other textile floor coverings, when their volume increased by X% to X square meters. In general, exports, however, recorded a precipitous descent. Over the period under review, the exports reached the peak figure at X square meters in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, carpet exports surged to $X in 2022. Overall, exports, however, recorded a significant decline. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X square meters), the United Arab Emirates (X square meters) and Thailand (X square meters) were the main destinations of carpet exports from Myanmar, with a combined X% share of total exports.

From 2016 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, Indonesia ($X) emerged as the key foreign market for carpets and other textile floor coverings exports from Myanmar, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an X% share of total exports.

From 2016 to 2022, the average annual rate of growth in terms of value to Indonesia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2022, the average carpet export price amounted to $X per square meter, rising by X% against the previous year. Overall, the export price, however, saw a deep reduction. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per square meter in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per square meter), while the average price for exports to the United Arab Emirates ($X per square meter) was amongst the lowest.

From 2016 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%).

Carpet Imports

Imports into Myanmar

After three years of decline, overseas purchases of carpets and other textile floor coverings increased by X% to X square meters in 2022. In general, imports showed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, carpet imports soared to $X in 2022. Over the period under review, imports showed a buoyant increase. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X square meters) constituted the largest carpet supplier to Myanmar, accounting for a X% share of total imports. Moreover, carpet imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X square meters), more than tenfold. The third position in this ranking was held by the United Arab Emirates (X square meters), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and the United Arab Emirates (X% per year).

In value terms, China ($X) constituted the largest supplier of carpets and other textile floor coverings to Myanmar, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Thailand, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the average carpet import price amounted to $X per square meter, dropping by X% against the previous year. Overall, the import price showed a deep contraction. The growth pace was the most rapid in 2017 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per square meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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