Myanmar: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in Myanmar

The Myanmar's electrical circuit apparatus market dropped markedly to $X in 2021, with a decrease of -22.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020, and then dropped remarkably in the following year.

Electrical Circuit Apparatus Exports

Exports from Myanmar

In 2021, after four years of growth, there was significant decline in overseas shipments of electrical apparatus for circuit connection, switching and protection, when their volume decreased by -26.2% to X tons. In general, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 112% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then fell notably in the following year.

In value terms, electrical circuit apparatus exports contracted markedly to $X in 2021. Overall, exports showed a deep slump. The pace of growth was the most pronounced in 2017 when exports increased by 59%. Over the period under review, the exports attained the peak figure at $X in 2020, and then shrank sharply in the following year.

Exports by Country

South Korea (X tons) was the main destination for electrical circuit apparatus exports from Myanmar, accounting for a 73% share of total exports. Moreover, electrical circuit apparatus exports to South Korea exceeded the volume sent to the second major destination, the United States (X tons), sixfold. The third position in this ranking was held by Japan (X tons), with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea stood at +122.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+84.0% per year) and Japan (-13.7% per year).

In value terms, the United States ($X), Japan ($X) and South Korea ($X) appeared to be the largest markets for electrical circuit apparatus exported from Myanmar worldwide, together comprising 78% of total exports.

In terms of the main countries of destination, South Korea, with a CAGR of +265.6%, 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

The average electrical circuit apparatus export price stood at $X per ton in 2021, reducing by -75.2% against the previous year. In general, the export price showed a drastic downturn. The most prominent rate of growth was recorded in 2013 an increase of 32% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to South Korea ($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 Thailand (+11.3%), while the prices for the other major destinations experienced a decline.

Electrical Circuit Apparatus Imports

Imports into Myanmar

In 2021, approx. X tons of electrical apparatus for circuit connection, switching and protection were imported into Myanmar; falling by -29.3% against 2020 figures. In general, imports, however, posted resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 52% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then reduced dramatically in the following year.

In value terms, electrical circuit apparatus imports fell remarkably to $X in 2021. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 58%. Imports peaked at $X in 2020, and then dropped significantly in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of electrical circuit apparatus to Myanmar, with a 57% share of total imports. Moreover, electrical circuit apparatus imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold. The third position in this ranking was taken by Japan (X tons), with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-4.4% per year) and Japan (+9.7% per year).

In value terms, China ($X), Japan ($X) and Germany ($X) were the largest electrical circuit apparatus suppliers to Myanmar, with a combined 74% share of total imports. These countries were followed by Thailand, Taiwan (Chinese), India, Italy, South Korea, Vietnam, Singapore and Malaysia, which together accounted for a further 21%.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +25.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average electrical circuit apparatus import price amounted to $X per ton, with an increase of 14% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 20% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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