Myanmar: Screwdriver Market 2025

Screwdriver Market Size in Myanmar

After three years of growth, the Myanmar's screwdriver market decreased by -10.4% to $X in 2021. In general, consumption, however, saw a strong increase. Screwdriver consumption peaked at $X in 2020, and then declined in the following year.

Screwdriver Exports

Exports from Myanmar

In 2021, approx. X kg of screwdrivers were exported from Myanmar; growing by 268% against the year before. Overall, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, screwdriver exports soared to $X in 2021. Over the period under review, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X kg) was the main destination for screwdriver exports from Myanmar, accounting for a 38% share of total exports. Moreover, screwdriver exports to Germany exceeded the volume sent to the second major destination, Singapore (X kg), threefold. The third position in this ranking was held by Thailand (X kg), with a 6% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +14.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+29.6% per year) and Thailand (+33.0% per year).

In value terms, Germany ($X) emerged as the key foreign market for screwdrivers exports from Myanmar, comprising 45% of total exports. The second position in the ranking was taken by Singapore ($X), with a 5.8% share of total exports. It was followed by Switzerland, with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled +197.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+29.9% per year) and Switzerland (-66.3% per year).

Export Prices by Country

The average screwdriver export price stood at $X per ton in 2021, increasing by 84% against the previous year. In general, the export price posted a prominent expansion. The most prominent rate of growth was recorded in 2019 an increase of 165%. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Thailand ($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 Germany (+161.1%), while the prices for the other major destinations experienced more modest paces of growth.

Screwdriver Imports

Imports into Myanmar

After three years of growth, purchases abroad of screwdrivers decreased by -32.9% to X tons in 2021. In general, imports, however, enjoyed a moderate increase. The most prominent rate of growth was recorded in 2016 when imports increased by 66% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020, and then contracted markedly in the following year.

In value terms, screwdriver imports reached $X in 2021. Overall, imports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 76% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main supplier of screwdriver to Myanmar, accounting for a 90% share of total imports. Moreover, screwdriver imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. Japan (X tons) ranked third in terms of total imports with a 1.6% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +15.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-8.3% per year) and Japan (+0.3% per year).

In value terms, China ($X) constituted the largest supplier of screwdrivers to Myanmar, comprising 56% of total imports. The second position in the ranking was held by Russia ($X), with a 19% share of total imports. It was followed by Thailand, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+13.2% per year) and Thailand (-5.1% per year).

Import Prices by Country

In 2021, the average screwdriver import price amounted to $X per ton, increasing by 50% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, screwdriver import price increased by +67.0% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+20.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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