Myanmar: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Myanmar

The Myanmar's market for instruments for measuring electrical quantities surged to $X in 2021, picking up by 31% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate significant growth. Instruments for measuring electrical quantities consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Exports of Instruments for Measuring Electrical Quantities

Exports from Myanmar

Instruments for measuring electrical quantities exports from Myanmar declined dramatically to X units in 2021, with a decrease of -69.4% against the previous year's figure. Over the period under review, exports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2017 with an increase of 41,223% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, instruments for measuring electrical quantities exports dropped significantly to $X in 2021. Overall, exports showed a dramatic setback. The pace of growth was the most pronounced in 2017 when exports increased by 951%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Singapore (X units) was the main destination for instruments for measuring electrical quantities exports from Myanmar, accounting for a approx. 99% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Singapore stood at +41.0%.

In value terms, Singapore ($X) also remains the key foreign market for instruments for measuring electrical quantities exports from Myanmar.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore amounted to +23.7%.

Export Prices by Country

The average export price for instruments for measuring electrical quantities stood at $X per unit in 2021, dropping by -7% against the previous year. Over the period under review, the export price showed a sharp reduction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 386% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Singapore.

From 2012 to 2021, the rate of growth in terms of prices for Singapore amounted to -12.1% per year.

Imports of Instruments for Measuring Electrical Quantities

Imports into Myanmar

In 2021, instruments for measuring electrical quantities imports into Myanmar reached X units, picking up by 2.7% against the year before. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 1,146% against the previous year. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, instruments for measuring electrical quantities imports surged to $X in 2021. Overall, imports showed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 1,299%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X units), China (X units) and India (X units) were the main suppliers of instruments for measuring electrical quantities imports to Myanmar, with a combined 87% share of total imports. These countries were followed by Vietnam, Singapore, the United States and Russia, which together accounted for a further 3.3%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +62.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of instruments for measuring electrical quantities to Myanmar, comprising 31% of total imports. The second position in the ranking was held by India ($X), with a 13% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Japan amounted to +31.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+72.8% per year) and China (+57.9% per year).

Import Prices by Country

The average import price for instruments for measuring electrical quantities stood at $X per unit in 2021, growing by 54% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, instruments for measuring electrical quantities import price increased by +59.1% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+42.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :