Myanmar: Stranded Wire Market 2024

Stranded Wire Market Size in Myanmar

In 2021, the Myanmar's stranded wire market decreased by -60.4% to $X, falling for the sixth year in a row after four years of growth. In general, consumption saw a abrupt shrinkage. Stranded wire consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Stranded Wire Exports

Exports from Myanmar

In 2021, approx. X tons of stranded wire, ropes and cables were exported from Myanmar; growing by 2.7% compared with the year before. Overall, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2018 when exports increased by 2,560%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, stranded wire exports rose notably to $X in 2021. In general, exports saw significant growth. The growth pace was the most rapid in 2018 with an increase of 1,494%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons) was the main destination for stranded wire exports from Myanmar, with a 73% share of total exports. Moreover, stranded wire exports to Thailand exceeded the volume sent to the second major destination, Luxembourg (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Thailand amounted to +78.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Luxembourg (+70.3% per year) and Vietnam (-95.1% per year).

In value terms, Luxembourg ($X) emerged as the key foreign market for stranded wire, ropes and cables exports from Myanmar, comprising 64% of total exports. The second position in the ranking was taken by Thailand ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Luxembourg totaled +129.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+60.7% per year) and Vietnam (-92.8% per year).

Export Prices by Country

The average stranded wire export price stood at $X per ton in 2021, rising by 5.4% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, stranded wire export price increased by +30.3% against 2018 indices. The growth pace was the most rapid in 2014 an increase of 40%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to Thailand ($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 Vietnam (+46.9%), while the prices for the other major destinations experienced mixed trend patterns.

Stranded Wire Imports

Imports into Myanmar

In 2021, approx. X tons of stranded wire, ropes and cables were imported into Myanmar; reducing by -55.6% compared with 2020. Over the period under review, imports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when imports increased by 25% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, stranded wire imports fell rapidly to $X in 2021. Overall, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2014 with an increase of 38% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of stranded wire to Myanmar, accounting for a 67% share of total imports. Moreover, stranded wire imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold. Thailand (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-3.1% per year) and Thailand (+7.8% per year).

In value terms, China ($X) constituted the largest supplier of stranded wire, ropes and cables to Myanmar, comprising 48% of total imports. The second position in the ranking was taken by India ($X), with a 23% share of total imports. It was followed by Thailand, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from China totaled -9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-4.3% per year) and Thailand (-3.5% per year).

Import Prices by Country

The average stranded wire import price stood at $X per ton in 2021, with a decrease of -22.1% against the previous year. Over the period under review, the import price saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2013 an increase of 19% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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