Myanmar: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Myanmar

The Myanmar's grinding and sharpening machine market amounted to $X in 2022, with an increase of 4.5% against the previous year. Over the period under review, consumption recorded a slight increase. Grinding and sharpening machine consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Grinding And Sharpening Metal Finishing Machines in Myanmar

In value terms, grinding and sharpening machine production expanded modestly to $X in 2022 estimated in export price. In general, production recorded slight growth. The most prominent rate of growth was recorded in 2018 with an increase of 144%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Myanmar

In 2022, overseas shipments of grinding and sharpening metal finishing machines were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 587% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, grinding and sharpening machine exports surged to $X in 2022. Over the period under review, exports continue to indicate slight growth. The most prominent rate of growth was recorded in 2018 with an increase of 999% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Madagascar (X units), India (X units) and Hong Kong SAR (X units) were the main destinations of grinding and sharpening machine exports from Myanmar, together accounting for 89% of total exports. Moreover, grinding and sharpening machine exports in Madagascar exceeded the figures recorded by the second-largest exporter, India, twofold.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +26.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for grinding and sharpening metal finishing machines exports from Myanmar, comprising 97% of total exports. The second position in the ranking was taken by Kenya ($X), with a 2.3% share of total exports. It was followed by Madagascar, with a 0.2% share.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR totaled +816.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (0.0% per year) and Madagascar (0.0% per year).

Export Prices by Country

The average grinding and sharpening machine export price stood at $X per unit in 2022, surging by 212% against the previous year. In general, the export price saw a remarkable increase. The most prominent rate of growth was recorded in 2018 an increase of 1,145% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, 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 Hong Kong SAR ($X per unit), while the average price for exports to Madagascar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+627.5%).

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Myanmar

In 2022, supplies from abroad of grinding and sharpening metal finishing machines increased by 49% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 448% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, grinding and sharpening machine imports fell to $X in 2022. In general, imports, however, saw a mild descent. The most prominent rate of growth was recorded in 2013 with an increase of 678% against the previous year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest grinding and sharpening machine supplier to Myanmar, accounting for a 77% share of total imports. Moreover, grinding and sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), sevenfold. The third position in this ranking was held by France (X units), with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+5.5% per year) and France (+4.3% per year).

In value terms, China ($X) constituted the largest supplier of grinding and sharpening metal finishing machines to Myanmar, comprising 52% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 18% share of total imports. It was followed by Thailand, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+7.3% per year) and Thailand (+9.4% per year).

Import Prices by Country

The average grinding and sharpening machine import price stood at $X per unit in 2022, which is down by -38.6% against the previous year. In general, the import price saw a slight descent. The most prominent rate of growth was recorded in 2014 when the average import price increased by 195%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+460.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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