Myanmar: Market for Machine-Tools For Working Any Material By Removal Of Material 2024

Market Size for Machine-Tools For Working Any Material By Removal Of Material in Myanmar

The Myanmar's machine-tool for removing material market amounted to less than $X in 2021, almost unchanged from the previous year. Overall, consumption continues to indicate a relatively flat trend pattern.

Production of Machine-Tools For Working Any Material By Removal Of Material in Myanmar

In value terms, machine-tool for removing material production reduced dramatically to $X in 2021 estimated in export price. Overall, production continues to indicate a slight shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 55%. As a result, production reached the peak level of $X, and then dropped dramatically in the following year.

Exports of Machine-Tools For Working Any Material By Removal Of Material

Exports from Myanmar

In 2021, shipments abroad of machine-tools for working any material by removal of material decreased by -46.7% to X units, falling for the second consecutive year after two years of growth. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 300% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, machine-tool for removing material exports fell sharply to $X in 2021. Over the period under review, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2018 with an increase of 3,846% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand (X units) was the main destination for machine-tool for removing material exports from Myanmar, accounting for a 75% share of total exports. Moreover, machine-tool for removing material exports to Thailand exceeded the volume sent to the second major destination, India (X units), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand amounted to +22.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (0.0% per year) and Japan (-90.9% per year).

In value terms, Thailand ($X) emerged as the key foreign market for machine-tools for working any material by removal of material exports from Myanmar, comprising 70% of total exports. The second position in the ranking was taken by Japan ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Thailand stood at +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-87.7% per year) and India (0.0% per year).

Export Prices by Country

The average machine-tool for removing material export price stood at $X per unit in 2021, shrinking by -33.8% against the previous year. Over the period under review, the export price continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 90% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a 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 Japan ($X per unit), while the average price for exports to India ($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 Japan (+35.8%).

Imports of Machine-Tools For Working Any Material By Removal Of Material

Imports into Myanmar

In 2021, supplies from abroad of machine-tools for working any material by removal of material decreased by -75.8% to X units, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2013 when imports increased by 953%. Imports peaked at X units in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, machine-tool for removing material imports shrank notably to $X in 2021. Overall, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 2,308%. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest machine-tool for removing material supplier to Myanmar, with a 50% share of total imports. Moreover, machine-tool for removing material imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), threefold. Japan (X units) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+18.9% per year) and Japan (0.0% per year).

In value terms, China ($X) constituted the largest supplier of machine-tools for working any material by removal of material to Myanmar, comprising 50% of total imports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total imports. It was followed by the United States, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +38.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+106.3% per year) and the United States (+65.6% per year).

Import Prices by Country

In 2021, the average machine-tool for removing material import price amounted to $X per unit, growing by 77% against the previous year. Over the period under review, the import price recorded significant growth. The growth pace was the most rapid in 2013 when the average import price increased by 126% against the previous year. The import price peaked in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+39.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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