Myanmar: Market for Leather of Bovine and Equine Animals 2024

Market Size for Leather of Bovine and Equine Animals in Myanmar

The Myanmar's bovine and equine leather market shrank significantly to $X in 2021, reducing by -34.4% against the previous year. Over the period under review, consumption recorded a drastic downturn. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Production of Leather of Bovine and Equine Animals in Myanmar

In value terms, bovine and equine leather production reduced markedly to $X in 2021 estimated in export price. Overall, production saw a abrupt descent. The most prominent rate of growth was recorded in 2020 when the production volume increased by 128% against the previous year. Bovine and equine leather production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Leather of Bovine and Equine Animals

Exports from Myanmar

In 2021, approx. X tons of leather of bovine and equine animals were exported from Myanmar; rising by 128% against the year before. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 356% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, bovine and equine leather exports shrank to $X in 2021. Over the period under review, exports showed a resilient expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 259%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Cambodia (X tons), China (X tons) and Vietnam (X tons) were the main destinations of bovine and equine leather exports from Myanmar, together accounting for 85% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of +3,563.0%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), China ($X) and Cambodia ($X) appeared to be the largest markets for bovine and equine leather exported from Myanmar worldwide, together comprising 65% of total exports.

Cambodia, with a CAGR of +491.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average bovine and equine leather export price amounted to $X per ton, reducing by -62.4% against the previous year. In general, the export price continues to indicate a dramatic curtailment. The pace of growth appeared the most rapid in 2013 an increase of 53% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (-20.5%), while the prices for the other major destinations experienced a decline.

Imports of Leather of Bovine and Equine Animals

Imports into Myanmar

In 2021, purchases abroad of leather of bovine and equine animals decreased by -42.9% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, enjoyed temperate growth. The most prominent rate of growth was recorded in 2018 with an increase of 65%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, bovine and equine leather imports contracted to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 34%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons) were the main suppliers of bovine and equine leather imports to Myanmar, together comprising 52% of total imports. These countries were followed by Italy, Vietnam, Thailand and Hong Kong SAR, which together accounted for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +97.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Italy ($X) and Taiwan (Chinese) ($X) appeared to be the largest bovine and equine leather suppliers to Myanmar, with a combined 46% share of total imports. These countries were followed by China, Vietnam, Thailand and Hong Kong SAR, which together accounted for a further 33%.

Vietnam, with a CAGR of +96.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average bovine and equine leather import price stood at $X per ton in 2021, increasing by 58% against the previous year. In general, the import price, however, recorded a pronounced contraction. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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