Myanmar: Steel Railway Material Market 2025

Steel Railway Material Market Size in Myanmar

The Myanmar's steel railway material market shrank dramatically to $X in 2022, dropping by -18.6% against the previous year. In general, consumption continues to indicate a pronounced setback. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Steel Railway Material Production in Myanmar

In value terms, steel railway material production contracted to $X in 2022 estimated in export price. Overall, production recorded a noticeable downturn. The pace of growth was the most pronounced in 2016 with an increase of 89% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Steel Railway Material Exports

Exports from Myanmar

In 2022, approx. X tons of railway material of steel were exported from Myanmar; increasing by 153% on the previous year's figure. Overall, exports, however, saw a dramatic contraction. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, steel railway material exports declined to $X in 2022. In general, exports, however, faced a dramatic shrinkage. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Singapore (X tons) was the main destination for steel railway material exports from Myanmar, accounting for a 87% share of total exports. Moreover, steel railway material exports to Singapore exceeded the volume sent to the second major destination, Vietnam (X kg), sevenfold.

From 2018 to 2022, the average annual rate of growth in terms of volume to Singapore stood at +22.3%.

In value terms, the largest markets for steel railway material exported from Myanmar were Singapore ($X) and Vietnam ($X).

Among the main countries of destination, Singapore, with a CAGR of -14.0%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average steel railway material export price stood at $X per ton in 2022, declining by -64.4% against the previous year. In general, the export price recorded a sharp decrease. The most prominent rate of growth was recorded in 2021 a decrease of -21.3% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Singapore amounted to $X per ton.

From 2018 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+7.6%), while the prices for the other major destinations experienced a decline.

Steel Railway Material Imports

Imports into Myanmar

In 2022, purchases abroad of railway material of steel decreased by -91.7% to X tons, falling for the second consecutive year after three years of growth. Overall, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 378%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, steel railway material imports declined markedly to $X in 2022. Over the period under review, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 when imports increased by 335%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steel railway material to Myanmar, accounting for a 61% share of total imports. Moreover, steel railway material imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. The third position in this ranking was held by South Korea (X tons), with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-9.4% per year) and South Korea (-30.3% per year).

In value terms, Japan ($X), China ($X) and South Korea ($X) appeared to be the largest steel railway material suppliers to Myanmar, together comprising 98% of total imports.

Among the main suppliers, Japan, with a CAGR of -2.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average steel railway material import price stood at $X per ton in 2022, waning by -35.3% against the previous year. In general, the import price showed a noticeable downturn. The pace of growth was the most pronounced in 2021 when the average import price increased by 80% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted significantly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+8.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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