Report Update: May 1, 2024

Myanmar - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights

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Crude Oil Price in Myanmar - 2021

Crude Oil Price in Myanmar (CIF) - 2022

The average crude oil import price stood at $423 per ton in 2022, dropping by -15% against the previous year. Over the period under review, the import price recorded a deep reduction. The most prominent rate of growth was recorded in 2017 an increase of 45% against the previous year. As a result, import price attained the peak level of $1,076 per ton. From 2018 to 2022, the average 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 Qatar ($453 per ton), while the price for China stood at $157 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (-6.0%).

Crude Oil Price in Myanmar (FOB) - 2022

The average crude oil export price stood at $558 per ton in 2022, leveling off at the previous year. Over the period under review, the export price saw a perceptible shrinkage. The pace of growth was the most pronounced in 2019 an increase of 30%. The export price peaked at $789 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($818 per ton), while the average price for exports to South Korea ($228 per ton) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+16.7%), while the prices for the other major destinations experienced a decline.

Crude Oil Imports in Myanmar

In 2022, after three years of growth, there was significant decline in overseas purchases of crude petroleum oil, when their volume decreased by -12.9% to 219 tons. In general, imports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 6,132% against the previous year.

In value terms, crude oil imports fell notably to $92K in 2022. Overall, imports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 7,868% against the previous year.

Import of Crude Oil in Myanmar (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Qatar	0.4	26.7	125	88.9	505.7%
China	N/A	N/A	N/A	3.5	0%
Nigeria	N/A	16.6	N/A	N/A	0%
Others	0.4	16.8	0.2	N/A	-29.3%
Total	0.8	60.1	125	92.5	387.2%

Top Suppliers of Crude Oil to Myanmar in 2022:

Qatar (196.1 tons)
China (22.5 tons)

Crude Oil Exports in Myanmar

For the third year in a row, Myanmar recorded decline in shipments abroad of crude petroleum oil, which decreased by 0% to 17K tons in 2022. Over the period under review, exports showed a precipitous curtailment. The smallest decline of -66.6% was in 2020.

In value terms, crude oil exports stood at $9.3M in 2022. In general, exports continue to indicate a significant contraction. The smallest decline of -76% was in 2020.

Export of Crude Oil in Myanmar (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Thailand	45.6	6.7	N/A	4.4	-54.1%
Singapore	8.5	4.2	N/A	2.6	-32.6%
Vietnam	7.4	4.3	N/A	1.5	-41.3%
South Korea	7.3	3.5	N/A	0.9	-50.2%
Malaysia	8.9	N/A	N/A	N/A	0%
Others	N/A	N/A	N/A	N/A	0%
Total	77.7	18.7	N/A	9.3	-50.7%

Top Export Markets for Crude Oil from Myanmar in 2022:

Thailand (5.3K tons)
Singapore (5.0K tons)
South Korea (3.7K tons)
Vietnam (2.7K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the crude oil market in Myanmar. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Myanmar

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Myanmar
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023