Myanmar: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in Myanmar

The Myanmar's machine-tool for working wood market amounted to $X in 2021, increasing by 6.5% 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, however, continues to indicate a pronounced setback. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Exports of Machine-Tools For Working Wood

Exports from Myanmar

In 2021, the amount of machine-tools for working wood exported from Myanmar surged to X tons, increasing by 30% on 2020 figures. In general, exports recorded a pronounced increase. The growth pace was the most rapid in 2019 with an increase of 1,106%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, machine-tool for working wood exports skyrocketed to $X in 2021. Over the period under review, exports recorded moderate growth. The growth pace was the most rapid in 2019 when exports increased by 3,703%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X tons) was the main destination for machine-tool for working wood exports from Myanmar, with a 64% share of total exports. Moreover, machine-tool for working wood exports to Singapore exceeded the volume sent to the second major destination, Cambodia (X tons), fivefold. The United States (X kg) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Singapore totaled +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (0.0% per year) and the United States (-3.2% per year).

In value terms, Singapore ($X) remains the key foreign market for machine-tools for working wood exports from Myanmar, comprising 69% of total exports. The second position in the ranking was taken by the United States ($X), with a 12% share of total exports. It was followed by India, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore totaled +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+4.9% per year) and India (+13.1% per year).

Export Prices by Country

In 2021, the average machine-tool for working wood export price amounted to $X per ton, surging by 35% against the previous year. Over the period under review, the export price, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2019 when the average export price increased by 215% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Cambodia ($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 China (+36.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Wood

Imports into Myanmar

In 2021, imports of machine-tools for working wood into Myanmar expanded significantly to X tons, growing by 6.2% compared with the year before. Overall, imports, however, continue to indicate a mild descent. The pace of growth was the most pronounced in 2015 with an increase of 41% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, machine-tool for working wood imports expanded sharply to $X in 2021. Over the period under review, imports, however, saw a perceptible shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 38%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of machine-tool for working wood to Myanmar, with a 74% share of total imports. Moreover, machine-tool for working wood imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), more than tenfold. The third position in this ranking was held by Finland (X tons), with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+0.1% per year) and Finland (+51.2% per year).

In value terms, China ($X) constituted the largest supplier of machine-tools for working wood to Myanmar, comprising 67% of total imports. The second position in the ranking was held by Finland ($X), with a 7.2% share of total imports. It was followed by Singapore, with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+57.1% per year) and Singapore (-5.9% per year).

Import Prices by Country

In 2021, the average machine-tool for working wood import price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the import price, however, saw a mild slump. The pace of growth was the most pronounced in 2014 an increase of 23%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

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 South Korea ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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