Myanmar: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in Myanmar

In 2022, after two years of decline, there was significant growth in the Myanmar's spectacle glass lenses market, when its value increased by 315% to $X. Overall, consumption, however, continues to indicate a abrupt decrease. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Spectacle Glass Lenses Production in Myanmar

In value terms, spectacle glass lenses production shrank markedly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2016 when the production volume increased by 126% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Spectacle Glass Lenses Exports

Exports from Myanmar

In 2022, after two years of growth, there was significant decline in overseas shipments of spectacle lenses of glass or other materials, when their volume decreased by -50% to X units. Over the period under review, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 2,445%. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, spectacle glass lenses exports fell notably to $X in 2022. Overall, exports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2014 when exports increased by 966% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The Philippines (X units) was the main destination for spectacle glass lenses exports from Myanmar, accounting for a 99.9% share of total exports. It was followed by China (X units), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the Philippines totaled +26.7%.

In value terms, the Philippines ($X) remains the key foreign market for spectacle lenses of glass or other materials exports from Myanmar, comprising 100% of total exports. The second position in the ranking was taken by China ($X), with a 0.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the Philippines stood at +2.1%.

Export Prices by Country

The average spectacle glass lenses export price stood at $X per unit in 2022, remaining constant against the previous year. Overall, the export price, however, continues to indicate a precipitous slump. The growth pace was the most rapid in 2018 an increase of 6.7% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 China ($X per unit), while the average price for exports to the Philippines stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-2.6%).

Spectacle Glass Lenses Imports

Imports into Myanmar

In 2022, the amount of spectacle lenses of glass or other materials imported into Myanmar surged to X units, jumping by 630% compared with the previous year's figure. In general, imports posted a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 7,155% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, spectacle glass lenses imports skyrocketed to $X in 2022. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 15,653% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), Japan (X units) and Thailand (X units) were the main suppliers of spectacle glass lenses imports to Myanmar, together accounting for 96% of total imports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +191.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of spectacle lenses of glass or other materials to Myanmar, comprising 74% of total imports. The second position in the ranking was held by China ($X), with a 20% share of total imports. It was followed by Thailand, with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan amounted to +123.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+54.8% per year) and Thailand (+49.5% per year).

Import Prices by Country

In 2022, the average spectacle glass lenses import price amounted to $X per unit, jumping by 42% against the previous year. In general, the import price, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the average import price increased by 117%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Japan ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-14.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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