Myanmar: Fishing Rod Market 2024

Fishing Rod Market Size in Myanmar

The Myanmar's fishing rod market declined rapidly to $X in 2021, falling by -15.8% against the previous year. Over the period under review, consumption saw a noticeable shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Fishing Rod Production in Myanmar

In value terms, fishing rod production reduced remarkably to $X in 2021 estimated in export price. In general, production showed a pronounced decrease. The growth pace was the most rapid in 2020 with an increase of 46% against the previous year. Fishing rod production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Fishing Rod Exports

Exports from Myanmar

In 2021, overseas shipments of fishing rods and other line fishing tackle decreased by -20.5% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 204%. Over the period under review, the exports attained the peak figure at X tons in 2020, and then fell dramatically in the following year.

In value terms, fishing rod exports dropped sharply to $X in 2021. Overall, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2014 with an increase of 144% against the previous year. The exports peaked at $X in 2020, and then declined notably in the following year.

Exports by Country

Japan (X tons) was the main destination for fishing rod exports from Myanmar, with a 80% share of total exports. Moreover, fishing rod exports to Japan exceeded the volume sent to the second major destination, China (X tons), tenfold. The United States (X kg) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume to Japan amounted to +40.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (0.0% per year) and the United States (0.0% per year).

In value terms, Japan ($X) remains the key foreign market for fishing rods and other line fishing tackle exports from Myanmar, comprising 87% of total exports. The second position in the ranking was taken by the United States ($X), with a 3.6% share of total exports. It was followed by South Korea, with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan stood at +54.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (0.0% per year) and South Korea (+6.1% per year).

Export Prices by Country

In 2021, the average fishing rod export price amounted to $X per ton, falling by -3.5% against the previous year. Over the period under review, the export price, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 an increase of 81% against the previous year. The export price peaked at $X per ton 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 export markets. In 2021, the country with the highest price was South Korea ($X per ton), while the average price for exports to China ($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 Japan (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Fishing Rod Imports

Imports into Myanmar

In 2021, supplies from abroad of fishing rods and other line fishing tackle decreased by -55.1% to X tons, falling for the third year in a row after three years of growth. Overall, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 179%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, fishing rod imports declined remarkably to $X in 2021. In general, imports, however, posted a noticeable increase. The most prominent rate of growth was recorded in 2013 when imports increased by 173% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest fishing rod supplier to Myanmar, accounting for a 48% share of total imports. Moreover, fishing rod imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. The third position in this ranking was held by Taiwan (Chinese) (X kg), with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+11.9% per year) and Taiwan (Chinese) (+16.0% per year).

In value terms, the largest fishing rod suppliers to Myanmar were China ($X), Japan ($X) and Thailand ($X), with a combined 94% share of total imports.

In terms of the main suppliers, Japan, with a CAGR of +17.4%, 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

The average fishing rod import price stood at $X per ton in 2021, jumping by 40% against the previous year. In general, the import price, however, showed a slight downturn. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 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, the country with the highest price was Malaysia ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :