Myanmar: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in Myanmar

The Myanmar's flywheels and pulleys market contracted to $X in 2021, with a decrease of -7.7% against the previous year. Overall, consumption continues to indicate a deep reduction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Flywheels And Pulleys Production in Myanmar

In value terms, flywheels and pulleys production reduced to $X in 2021 estimated in export price. Over the period under review, production showed a abrupt contraction. The pace of growth appeared the most rapid in 2016 when the production volume increased by 24%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Flywheels And Pulleys Exports

Exports from Myanmar

After two years of decline, shipments abroad of flywheels and pulleys increased by 2.2% to X kg in 2021. Overall, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 571%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, flywheels and pulleys exports fell to $X in 2021. In general, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 593%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

South Korea (X kg) was the main destination for flywheels and pulleys exports from Myanmar, with a 74% share of total exports. Moreover, flywheels and pulleys exports to South Korea exceeded the volume sent to the second major destination, Malaysia (X kg), fivefold.

From 2012 to 2021, the average annual growth rate of volume to South Korea amounted to +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (0.0% per year) and China (+22.0% per year).

In value terms, South Korea ($X) emerged as the key foreign market for flywheels and pulleys exports from Myanmar, comprising 71% of total exports. The second position in the ranking was held by Malaysia ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea totaled +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+2,172.7% per year) and China (+15.6% per year).

Export Prices by Country

The average flywheels and pulleys export price stood at $X per ton in 2021, falling by -10.8% against the previous year. Overall, the export price recorded a abrupt downturn. The pace of growth was the most pronounced in 2013 an increase of 16% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, 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 Thailand (+61.3%), while the prices for the other major destinations experienced a decline.

Flywheels And Pulleys Imports

Imports into Myanmar

In 2021, approx. X tons of flywheels and pulleys were imported into Myanmar; with an increase of 187% against the year before. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 361%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, flywheels and pulleys imports surged to $X in 2021. In general, imports recorded a significant expansion. The growth pace was the most rapid in 2013 when imports increased by 336% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and Singapore (X kg) were the main suppliers of flywheels and pulleys imports to Myanmar, together accounting for 97% of total imports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +50.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of flywheels and pulleys to Myanmar, comprising 67% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 22% share of total imports. It was followed by Singapore, with a 4.4% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +40.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+25.3% per year) and Singapore (+44.1% per year).

Import Prices by Country

In 2021, the average flywheels and pulleys import price amounted to $X per ton, which is down by -8.5% against the previous year. Overall, the import price saw a perceptible downturn. The pace of growth appeared the most rapid in 2018 an increase of 38%. The import price peaked at $X per ton in 2014; however, from 2015 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, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+1.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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