Myanmar: Market for Non-Domestic Percolators and Equipment For Cooking Or Heating Food 2024

Market Size for Non-Domestic Percolators and Equipment For Cooking Or Heating Food in Myanmar

After three years of decline, the Myanmar's market for non-domestic percolators and equipment for cooking or heating food increased by 151% to $X in 2022. Overall, consumption continues to indicate prominent growth. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Exports of Non-Domestic Percolators and Equipment For Cooking Or Heating Food

Exports from Myanmar

Exports of non-domestic percolators and equipment for cooking or heating food from Myanmar skyrocketed to X units in 2021, increasing by 3,700% against the previous year's figure. Over the period under review, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of non-domestic percolators and equipment for cooking or heating food surged to $X in 2021. Overall, exports showed a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 14,853% against the previous year. Over the period under review, the exports of attained the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X units) was the main destination for exports of non-domestic percolators and equipment for cooking or heating food from Myanmar, with a 95% share of total exports. Moreover, exports of non-domestic percolators and equipment for cooking or heating food to Singapore exceeded the volume sent to the second major destination, South Korea (X units), more than tenfold.

From 2018 to 2021, the average annual growth rate of volume to Singapore was relatively modest.

In value terms, Singapore ($X) emerged as the key foreign market for non-domestic percolators and equipment for cooking or heating food exports from Myanmar, comprising 99.9% of total exports. The second position in the ranking was taken by South Korea ($X), with less than 0.1% share of total exports.

From 2018 to 2021, the average annual rate of growth in terms of value to Singapore was relatively modest.

Export Prices by Country

In 2021, the average export price for non-domestic percolators and equipment for cooking or heating food amounted to $X per unit, with a decrease of -92% against the previous year. In general, the export price, however, posted significant growth. The pace of growth was the most pronounced in 2020 an increase of 14,853% against the previous year. As a result, the export price reached the peak level of $X per unit, and then contracted sharply in the following year.

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 Singapore ($X per unit), while the average price for exports to South Korea totaled $X per unit.

From 2018 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+1,176.5%).

Imports of Non-Domestic Percolators and Equipment For Cooking Or Heating Food

Imports into Myanmar

In 2022, after three years of decline, there was significant growth in supplies from abroad of non-domestic percolators and equipment for cooking or heating food, when their volume increased by 123% to X units. Over the period under review, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 197% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, imports of non-domestic percolators and equipment for cooking or heating food surged to $X in 2022. Overall, imports posted prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of 140%. Over the period under review, imports of attained the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-domestic percolators and equipment for cooking or heating food to Myanmar, accounting for a 77% share of total imports. Moreover, imports of non-domestic percolators and equipment for cooking or heating food from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), eightfold. The third position in this ranking was held by Germany (X units), with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +34.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+36.0% per year) and Germany (+35.7% per year).

In value terms, the largest non-domestic percolators and equipment for cooking or heating food suppliers to Myanmar were China ($X), Germany ($X) and Italy ($X), together comprising 83% of total imports.

Among the main suppliers, Germany, with a CAGR of +30.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for non-domestic percolators and equipment for cooking or heating food amounted to $X per unit, increasing by 5.7% against the previous year. Overall, the import price, however, saw a abrupt setback. The growth pace was the most rapid in 2013 an increase of 32%. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform