Myanmar: Nail And Bolt Market 2024

Nail And Bolt Market Size in Myanmar

The Myanmar's nail and bolt market dropped to $X in 2021, waning by -11.1% against the previous year. In general, consumption recorded a slight setback. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Nail And Bolt Production in Myanmar

In value terms, nail and bolt production shrank to $X in 2021 estimated in export price. Over the period under review, production showed a pronounced shrinkage. The growth pace was the most rapid in 2016 when the production volume increased by 19% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Nail And Bolt Exports

Exports from Myanmar

For the fourth year in a row, Myanmar recorded growth in overseas shipments of nails, tacks, staples, screws and bolts, which increased by 92% to X tons in 2021. Over the period under review, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 408% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, nail and bolt exports surged to $X in 2021. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 1,297% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Japan (X tons) was the main destination for nail and bolt exports from Myanmar, accounting for a 84% share of total exports. Moreover, nail and bolt exports to Japan exceeded the volume sent to the second major destination, Thailand (X tons), fivefold. The third position in this ranking was held by India (X kg), with a 0.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan amounted to +198.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+75.0% per year) and India (-28.9% per year).

In value terms, Japan ($X) remains the key foreign market for nails, tacks, staples, screws and bolts exports from Myanmar, comprising 88% of total exports. The second position in the ranking was taken by Thailand ($X), with an 11% share of total exports. It was followed by Vietnam, with a 0.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan totaled +158.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+65.2% per year) and Vietnam (-65.0% per year).

Export Prices by Country

In 2021, the average nail and bolt export price amounted to $X per ton, increasing by 29% against the previous year. In general, the export price showed a significant expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 366%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

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 China ($X per ton), while the average price for exports to India ($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 Canada (+62.1%), while the prices for the other major destinations experienced more modest paces of growth.

Nail And Bolt Imports

Imports into Myanmar

In 2021, approx. X tons of nails, tacks, staples, screws and bolts were imported into Myanmar; reducing by -22.4% compared with 2020. Overall, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by 98% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, nail and bolt imports contracted markedly to $X in 2021. In general, imports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 110% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of nail and bolt to Myanmar, with a 90% share of total imports. Moreover, nail and bolt imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. The third position in this ranking was taken by Vietnam (X tons), with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+11.1% per year) and Vietnam (+28.0% per year).

In value terms, China ($X) constituted the largest supplier of nails, tacks, staples, screws and bolts to Myanmar, comprising 83% of total imports. The second position in the ranking was taken by Thailand ($X), with a 3.6% share of total imports. It was followed by Vietnam, with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+5.3% per year) and Vietnam (-1.7% per year).

Import Prices by Country

The average nail and bolt import price stood at $X per ton in 2021, which is down by -19.2% against the previous year. Overall, the import price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2019 an increase of 33%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+4.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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