Myanmar: Non-Electric Motor Handtools Market 2024

Non-Electric Motor Handtools Market Size in Myanmar

The Myanmar's non-electric motor handtools market dropped significantly to $X in 2022, falling by -40.5% against the previous year. Over the period under review, consumption, however, showed significant growth. Non-electric motor handtools consumption peaked at $X in 2021, and then dropped dramatically in the following year.

Non-Electric Motor Handtools Production in Myanmar

In value terms, non-electric motor handtools production amounted to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by 1% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Non-Electric Motor Handtools Exports

Exports from Myanmar

In 2022, overseas shipments of handtools, hydraulic or with a self-contained non-electric motor increased by 120% to X units, rising for the second consecutive year after three years of decline. Overall, exports saw a buoyant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 1,517% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, non-electric motor handtools exports soared to $X in 2022. In general, exports showed strong growth. The pace of growth appeared the most rapid in 2017 when exports increased by 638%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Madagascar (X units) and Malaysia (X units) were the main destinations of non-electric motor handtools exports from Myanmar.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +17.5%).

In value terms, Malaysia ($X) remains the key foreign market for handtools, hydraulic or with a self-contained non-electric motor exports from Myanmar, comprising 97% of total exports. The second position in the ranking was held by Madagascar ($X), with a 3.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Malaysia amounted to +16.1%.

Export Prices by Country

The average non-electric motor handtools export price stood at $X per unit in 2022, reducing by -34.7% against the previous year. Over the period under review, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 229% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 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 Malaysia ($X per unit), while the average price for exports to Madagascar amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (-1.2%).

Non-Electric Motor Handtools Imports

Imports into Myanmar

In 2022, the amount of handtools, hydraulic or with a self-contained non-electric motor imported into Myanmar reduced notably to X units, which is down by -42.8% compared with the previous year's figure. Overall, imports, however, posted a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 2,513% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, non-electric motor handtools imports declined significantly to $X in 2022. In general, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2013 with an increase of 1,279%. Over the period under review, imports hit record highs at $X in 2021, and then dropped sharply in the following year.

Imports by Country

In 2022, China (X units) constituted the largest non-electric motor handtools supplier to Myanmar, accounting for a 73% share of total imports. Moreover, non-electric motor handtools imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), threefold. Thailand (X units) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +34.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+49.1% per year) and Thailand (+59.7% per year).

In value terms, the largest non-electric motor handtools suppliers to Myanmar were China ($X), Thailand ($X) and South Korea ($X), with a combined 85% share of total imports.

Among the main suppliers, Thailand, with a CAGR of +92.4%, recorded the highest growth rate of 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 2022, the average non-electric motor handtools import price amounted to $X per unit, surging by 4% against the previous year. Overall, the import price showed modest growth. The most prominent rate of growth was recorded in 2019 an increase of 88% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+20.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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