Myanmar: Inflatable Vessel Market 2024

Inflatable Vessel Market Size in Myanmar

After two years of growth, the Myanmar's inflatable vessel market decreased by -0.7% to $X in 2021. Overall, consumption continues to indicate a slight contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Inflatable Vessel Production in Myanmar

In value terms, inflatable vessel production stood at $X in 2021 estimated in export price. In general, production continues to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 27% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Inflatable Vessel Exports

Exports from Myanmar

For the third year in a row, Myanmar recorded growth in overseas shipments of inflatable vessels for pleasure or sports, which increased by 573% to X units in 2021. Overall, exports recorded a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 1,050% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, inflatable vessel exports surged to $X in 2021. Over the period under review, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X units), Thailand (X units) and the United States (X units) were the main destinations of inflatable vessel exports from Myanmar, with a combined 89% share of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +370.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for inflatable vessel exported from Myanmar were Thailand ($X), the United States ($X) and China ($X), together accounting for 89% of total exports.

In terms of the main countries of destination, China, with a CAGR of +685.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average inflatable vessel export price stood at $X per unit in 2021, declining by -22% against the previous year. In general, the export price recorded a dramatic contraction. The most prominent rate of growth was recorded in 2018 an increase of 27% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+1,227.8%), while the prices for the other major destinations experienced more modest paces of growth.

Inflatable Vessel Imports

Imports into Myanmar

In 2021, overseas purchases of inflatable vessels for pleasure or sports increased by 1,500% to X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports posted a pronounced increase. The pace of growth appeared the most rapid in 2016 when imports increased by 11,480% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, inflatable vessel imports skyrocketed to $X in 2021. In general, imports recorded a significant increase. The pace of growth was the most pronounced in 2016 when imports increased by 10,038% against the previous year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X units) constituted the largest inflatable vessel supplier to Myanmar, accounting for a 63% share of total imports. Moreover, inflatable vessel imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Thailand (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +39.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+22.0% per year) and China (+10.7% per year).

In value terms, the largest inflatable vessel suppliers to Myanmar were the United Arab Emirates ($X), Thailand ($X) and China ($X), together accounting for 100% of total imports.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +54.2%, 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 2021, the average inflatable vessel import price amounted to $X per unit, increasing by 60% against the previous year. Over the period under review, the import price posted a buoyant expansion. The most prominent rate of growth was recorded in 2013 an increase of 270%. The import price peaked in 2021 and is likely to see steady growth in years to come.

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 Thailand ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+72.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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