Myanmar: Smoothing Iron Market 2024

Smoothing Iron Market Size in Myanmar

The Myanmar's smoothing iron market contracted to $X in 2021, shrinking by -2.1% against the previous year. Overall, consumption saw a abrupt curtailment. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Smoothing Iron Production in Myanmar

In value terms, smoothing iron production declined slightly to $X in 2021 estimated in export price. Over the period under review, production showed a pronounced contraction. The pace of growth was the most pronounced in 2018 with an increase of 353%. Smoothing iron production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Smoothing Iron Exports

Exports from Myanmar

Smoothing iron exports from Myanmar expanded remarkably to X units in 2021, increasing by 5.1% compared with the previous year's figure. Overall, exports saw significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 1,730% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, smoothing iron exports stood at $X in 2021. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 1,864% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand (X units) was the main destination for smoothing iron exports from Myanmar, with a 89% share of total exports. Moreover, smoothing iron exports to Thailand exceeded the volume sent to the second major destination, the Czech Republic (X units), eightfold.

From 2015 to 2021, the average annual rate of growth in terms of volume to Thailand stood at +93.2%.

In value terms, Thailand ($X) remains the key foreign market for electric smoothing irons exports from Myanmar, comprising 79% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 21% share of total exports.

From 2015 to 2021, the average annual rate of growth in terms of value to Thailand stood at +160.4%.

Export Prices by Country

The average smoothing iron export price stood at $X per unit in 2021, flattening at the previous year. In general, the export price, however, posted significant growth. The pace of growth appeared the most rapid in 2016 an increase of 293%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to Thailand amounted to $X per unit.

From 2015 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+34.8%).

Smoothing Iron Imports

Imports into Myanmar

In 2021, supplies from abroad of electric smoothing irons decreased by -3.4% to X units, falling for the fifth consecutive year after three years of growth. In general, imports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 511%. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, smoothing iron imports reduced markedly to $X in 2021. Over the period under review, imports, however, continue to indicate noticeable growth. The most prominent rate of growth was recorded in 2014 with an increase of 625% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of smoothing iron to Myanmar, accounting for a 69% share of total imports. Moreover, smoothing iron imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), twofold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +26.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+30.0% per year) and Germany (-52.4% per year).

In value terms, China ($X) constituted the largest supplier of electric smoothing irons to Myanmar, comprising 65% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 10% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+34.1% per year) and Germany (-32.2% per year).

Import Prices by Country

In 2021, the average smoothing iron import price amounted to $X per unit, with a decrease of -14.2% against the previous year. In general, the import price faced a abrupt contraction. The most prominent rate of growth was recorded in 2014 an increase of 25% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices remained 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 Germany ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+42.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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