Myanmar: Market for Vacuum Cleaners With Motor 2024

Market Size for Vacuum Cleaners With Motor in Myanmar

The Myanmar's vacuum cleaner with motor market reduced rapidly to $X in 2021, shrinking by -27.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a precipitous decrease. Vacuum cleaner with motor consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Vacuum Cleaners With Motor

Exports from Myanmar

For the fourth year in a row, Myanmar recorded growth in shipments abroad of vacuum cleaners with motor, which increased by 54% to X kg in 2021. Overall, exports continue to indicate resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, vacuum cleaner with motor exports skyrocketed to $X in 2021. Over the period under review, exports posted a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Norway (X kg) was the main destination for vacuum cleaner with motor exports from Myanmar, with a 83% share of total exports. Moreover, vacuum cleaner with motor exports to Norway exceeded the volume sent to the second major destination, Thailand (X kg), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Norway was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-8.7% per year) and Mozambique (0.0% per year).

In value terms, Norway ($X) emerged as the key foreign market for vacuum cleaners with motor exports from Myanmar, comprising 89% of total exports. The second position in the ranking was held by Thailand ($X), with an 8.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Norway was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-0.9% per year) and Mozambique (0.0% per year).

Export Prices by Country

The average vacuum cleaner with motor export price stood at $X per ton in 2021, surging by 16% against the previous year. In general, the export price enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 52% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Thailand ($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 the United States (+14.5%).

Imports of Vacuum Cleaners With Motor

Imports into Myanmar

In 2021, approx. X tons of vacuum cleaners with motor were imported into Myanmar; which is down by -27.4% against 2020. Over the period under review, imports showed a sharp decline. The pace of growth was the most pronounced in 2016 when imports increased by 672% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, vacuum cleaner with motor imports declined dramatically to $X in 2021. In general, imports saw a sharp decline. The most prominent rate of growth was recorded in 2016 when imports increased by 571%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Thailand (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of vacuum cleaner with motor imports to Myanmar, with a combined 87% share of total imports. These countries were followed by Germany, Singapore, Japan, India, Turkey and the United States, which together accounted for a further 10%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +20.3%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X), Thailand ($X) and Malaysia ($X) constituted the largest vacuum cleaner with motor suppliers to Myanmar, with a combined 86% share of total imports.

Malaysia, with a CAGR of +12.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average vacuum cleaner with motor import price amounted to $X per ton, approximately reflecting the previous year. Over the last nine-year period, it increased at an average annual rate of +4.0%. The pace of growth was the most pronounced in 2015 when the average import price increased by 15% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2020, and then declined modestly in the following year.

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 Singapore ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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