Myanmar: Market for Mechanical Appliances For Projecting, Dispersing Or Spraying 2024

Market Size for Mechanical Appliances For Projecting, Dispersing Or Spraying in Myanmar

In 2022, the Myanmar's market for mechanical appliances for projecting, dispersing or spraying decreased by -0.4% to $X, falling for the second consecutive year after five years of growth. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Mechanical Appliances For Projecting, Dispersing Or Spraying in Myanmar

In value terms, production of mechanical appliances for projecting, dispersing or spraying fell to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 109%. As a result, production reached the peak level of $X. From 2020 to 2022, production of growth remained at a somewhat lower figure.

Exports of Mechanical Appliances For Projecting, Dispersing Or Spraying

Exports from Myanmar

Exports of mechanical appliances for projecting, dispersing or spraying from Myanmar fell dramatically to X units in 2022, waning by -64.8% against the previous year. Overall, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 3,737%. Over the period under review, the exports of attained the peak figure at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, exports of mechanical appliances for projecting, dispersing or spraying plummeted to $X in 2022. In general, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of 3,864%. Over the period under review, the exports of hit record highs at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X units) was the main destination for exports of mechanical appliances for projecting, dispersing or spraying from Myanmar, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Vietnam amounted to +87.8%.

In value terms, Vietnam ($X) emerged as the key foreign market for mechanical appliances for projecting, dispersing or spraying exports from Myanmar.

From 2012 to 2022, the average annual growth rate of value to Vietnam stood at -35.8%.

Export Prices by Country

The average export price for mechanical appliances for projecting, dispersing or spraying stood at $X per unit in 2022, which is down by -17.3% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the average export price increased by 65%. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then contracted dramatically in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to +1.1% per year.

Imports of Mechanical Appliances For Projecting, Dispersing Or Spraying

Imports into Myanmar

Imports of mechanical appliances for projecting, dispersing or spraying into Myanmar reduced notably to X units in 2022, with a decrease of -18.9% on the previous year. Over the period under review, imports recorded a slight downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 329%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of mechanical appliances for projecting, dispersing or spraying contracted to $X in 2022. Overall, imports, however, posted noticeable growth. The pace of growth appeared the most rapid in 2017 when imports increased by 405%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest mechanical appliances for projecting, dispersing or spraying supplier to Myanmar, with a 58% share of total imports. Moreover, imports of mechanical appliances for projecting, dispersing or spraying from China exceeded the figures recorded by the second-largest supplier, Austria (X units), fivefold. Thailand (X units) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+71.2% per year) and Thailand (+47.7% per year).

In value terms, China ($X) constituted the largest supplier of mechanical appliances for projecting, dispersing or spraying to Myanmar, comprising 58% of total imports. The second position in the ranking was held by Austria ($X), with a 12% share of total imports. It was followed by Thailand, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+68.6% per year) and Thailand (+54.3% per year).

Import Prices by Country

In 2022, the average import price for mechanical appliances for projecting, dispersing or spraying amounted to $X per unit, with an increase of 8.4% against the previous year. Over the last decade, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 25%. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($X per unit) and India ($X per unit), while the price for Australia ($X per unit) and Singapore ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+1,512.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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