Myanmar: Market for Industrial Sewing Machines (Non-Automatic) 2024

Market Size for Industrial Sewing Machines (Non-Automatic) in Myanmar

In 2022, the Myanmar's industrial sewing machines (non-automatic) market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption saw prominent growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Exports of Industrial Sewing Machines (Non-Automatic)

Exports from Myanmar

For the fourth consecutive year, Myanmar recorded growth in overseas shipments of industrial sewing machines (non-automatic), which increased by 126% to X units in 2022. Overall, exports showed significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 660% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, industrial sewing machines (non-automatic) exports shrank slightly to $X in 2022. In general, exports enjoyed significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 1,006%. As a result, the exports attained the peak of $X, and then fell modestly in the following year.

Exports by Country

Indonesia (X units), Vietnam (X units) and Thailand (X units) were the main destinations of industrial sewing machines (non-automatic) exports from Myanmar, with a combined 96% share of total exports.

From 2017 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +846.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) emerged as the key foreign market for industrial sewing machines (non-automatic) exports from Myanmar, comprising 65% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 15% share of total exports. It was followed by Thailand, with an 8.5% share.

From 2017 to 2022, the average annual growth rate of value to Indonesia amounted to +980.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+653.6% per year) and Thailand (+48.3% per year).

Export Prices by Country

In 2022, the average industrial sewing machines (non-automatic) export price amounted to $X per unit, dropping by -56.8% against the previous year. Over the period under review, the export price recorded a abrupt decline. The growth pace was the most rapid in 2021 when the average export price increased by 46%. As a result, the export price reached the peak level of $X per unit, and then dropped notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($X per unit), while the average price for exports to Vietnam ($X per unit) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+41.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Industrial Sewing Machines (Non-Automatic)

Imports into Myanmar

In 2022, overseas purchases of industrial sewing machines (non-automatic) were finally on the rise to reach X units for the first time since 2017, thus ending a four-year declining trend. In general, imports recorded a moderate increase. The growth pace was the most rapid in 2013 with an increase of 103%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, industrial sewing machines (non-automatic) imports skyrocketed to $X in 2022. Over the period under review, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by 188% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), India (X units) and Japan (X units) were the main suppliers of industrial sewing machines (non-automatic) imports to Myanmar, with a combined 95% share of total imports. Thailand, South Korea and Singapore lagged somewhat behind, together accounting for a further 3.4%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +16.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of industrial sewing machines (non-automatic) to Myanmar, comprising 76% of total imports. The second position in the ranking was taken by Japan ($X), with a 7.5% share of total imports. It was followed by India, with a 5% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+9.8% per year) and India (+14.3% per year).

Import Prices by Country

The average industrial sewing machines (non-automatic) import price stood at $X per unit in 2022, growing by 56% against the previous year. Over the period under review, the import price posted buoyant growth. The most prominent rate of growth was recorded in 2019 an increase of 97% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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