Myanmar: Whisky Market 2024

Whisky Market Size in Myanmar

In 2022, the Myanmar's whisky market increased by 254% to $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, recorded a abrupt decrease. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Whisky Production in Myanmar

In value terms, whisky production expanded slightly to $X in 2022 estimated in export price. In general, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.7% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 29% against the previous year. Whisky production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Whisky Exports

Exports from Myanmar

In 2022, after three years of growth, there was significant decline in shipments abroad of whisky, when their volume decreased by -89.4% to X litres. Overall, exports, however, showed significant growth. The pace of growth was the most pronounced in 2016 when exports increased by 11,859% against the previous year. The exports peaked at X litres in 2021, and then shrank remarkably in the following year.

In value terms, whisky exports dropped significantly to $X in 2022. In general, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 7,980% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined markedly in the following year.

Exports by Country

Thailand (X litres) was the main destination for whisky exports from Myanmar, accounting for a 75% share of total exports. Moreover, whisky exports to Thailand exceeded the volume sent to the second major destination, South Korea (X litres), tenfold. Ghana (X litres) ranked third in terms of total exports with a 4.8% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to Thailand amounted to +257.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+26.1% per year) and Ghana (-5.2% per year).

In value terms, Thailand ($X) remains the key foreign market for whisky exports from Myanmar, comprising 96% of total exports. The second position in the ranking was taken by South Korea ($X), with a 1.2% share of total exports. It was followed by the United Arab Emirates, with a 1% share.

From 2013 to 2022, the average annual rate of growth in terms of value to Thailand stood at +519.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+1.3% per year) and the United Arab Emirates (+209.8% per year).

Export Prices by Country

The average whisky export price stood at $X per litre in 2022, with an increase of 163% against the previous year. Over the period under review, the export price, however, recorded a abrupt decline. Over the period under review, the average export prices reached the peak figure at $X per litre in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per litre), while the average price for exports to South Korea ($X per litre) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+73.0%), while the prices for the other major destinations experienced mixed trend patterns.

Whisky Imports

Imports into Myanmar

In 2022, imports of whisky into Myanmar contracted sharply to X litres, with a decrease of -40% on the previous year. Overall, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 421% against the previous year. Imports peaked at X litres in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, whisky imports contracted to $X in 2022. In general, imports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 418%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the UK (X litres) constituted the largest whisky supplier to Myanmar, accounting for a 66% share of total imports. Moreover, whisky imports from the UK exceeded the figures recorded by the second-largest supplier, the United States (X litres), threefold. The third position in this ranking was taken by Thailand (X litres), with a 4% share.

From 2012 to 2022, the average annual growth rate of volume from the UK totaled +31.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+76.3% per year) and Thailand (-10.2% per year).

In value terms, the UK ($X) constituted the largest supplier of whisky to Myanmar, comprising 73% of total imports. The second position in the ranking was held by the United States ($X), with a 13% share of total imports. It was followed by the United Arab Emirates, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value from the UK stood at +27.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+59.0% per year) and the United Arab Emirates (+1.7% per year).

Import Prices by Country

In 2022, the average whisky import price amounted to $X per litre, picking up by 47% against the previous year. In general, the import price, however, showed a perceptible reduction. Over the period under review, average import prices hit record highs at $X per litre in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per litre), while the price for the United States ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+4.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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