Myanmar: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Myanmar

The Myanmar's conveyor or transmission belt market expanded slightly to $X in 2021, increasing by 3.1% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Conveyor or transmission belt consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Production of Conveyor Or Transmission Belts Or Belting in Myanmar

In value terms, conveyor or transmission belt production soared to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a mild decline. The pace of growth was the most pronounced in 2013 with an increase of 82%. Conveyor or transmission belt production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Myanmar

In 2021, exports of conveyor or transmission belts or belting from Myanmar fell dramatically to X kg, reducing by -18.3% against the previous year. In general, exports continue to indicate a mild descent. The most prominent rate of growth was recorded in 2017 when exports increased by 624% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, conveyor or transmission belt exports fell remarkably to $X in 2021. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 501%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Kuwait (X kg) was the main destination for conveyor or transmission belt exports from Myanmar, with a 90% share of total exports. Moreover, conveyor or transmission belt exports to Kuwait exceeded the volume sent to the second major destination, Thailand (X kg), more than tenfold. Russia (X kg) ranked third in terms of total exports with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kuwait totaled -19.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+25.1% per year) and Russia (0.0% per year).

In value terms, Kuwait ($X) remains the key foreign market for conveyor or transmission belts or belting exports from Myanmar, comprising 91% of total exports. The second position in the ranking was held by Thailand ($X), with a 4.3% share of total exports. It was followed by Russia, with a 2.1% share.

From 2012 to 2021, the average annual growth rate of value to Kuwait amounted to -26.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+32.1% per year) and Russia (0.0% per year).

Export Prices by Country

The average conveyor or transmission belt export price stood at $X per ton in 2021, with a decrease of -6.7% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 658%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+18.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Myanmar

In 2021, approx. X tons of conveyor or transmission belts or belting were imported into Myanmar; reducing by -27.7% against the previous year. In general, total imports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 45% against the previous year. Imports peaked at X tons in 2020, and then fell notably in the following year.

In value terms, conveyor or transmission belt imports declined rapidly to $X in 2021. Overall, total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -30.1% against 2019 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 20%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest conveyor or transmission belt supplier to Myanmar, with a 77% share of total imports. Moreover, conveyor or transmission belt imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold. Malaysia (X tons) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+6.4% per year) and Malaysia (+105.4% per year).

In value terms, the largest conveyor or transmission belt suppliers to Myanmar were China ($X), Thailand ($X) and Malaysia ($X), together comprising 79% of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of +56.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average conveyor or transmission belt import price amounted to $X per ton, approximately equating the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 18% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+46.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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