Myanmar: Metal Domestic Furniture Market 2024

Metal Domestic Furniture Market Size in Myanmar

In 2022, the Myanmar's metal domestic furniture market was finally on the rise to reach $X after two years of decline. In general, consumption, however, recorded a drastic downturn. Metal domestic furniture consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Metal Domestic Furniture Production in Myanmar

In value terms, metal domestic furniture production dropped to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt decline. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Metal domestic furniture production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Metal Domestic Furniture Exports

Exports from Myanmar

Metal domestic furniture exports from Myanmar shrank slightly to X tons in 2022, declining by X% on the year before. In general, exports, however, recorded significant growth. The growth pace was the most rapid in 2020 with an increase of X%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, metal domestic furniture exports shrank to $X in 2022. Over the period under review, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons), India (X tons) and Singapore (X tons) were the main destinations of metal domestic furniture exports from Myanmar, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for metal furniture exports from Myanmar, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and India (X% per year).

Export Prices by Country

The average metal domestic furniture export price stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price, however, posted a slight increase. The growth pace was the most rapid in 2018 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Domestic Furniture Imports

Imports into Myanmar

In 2022, overseas purchases of metal furniture were finally on the rise to reach X tons after two years of decline. Over the period under review, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, metal domestic furniture imports skyrocketed to $X in 2022. In general, imports recorded notable growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal domestic furniture to Myanmar, accounting for a X% share of total imports. Moreover, metal domestic furniture imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold.

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

In value terms, China ($X) constituted the largest supplier of metal furniture to Myanmar, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with an X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the average metal domestic furniture import price amounted to $X per ton, waning by X% against the previous year. Overall, the import price saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2018 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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