Report Update: May 1, 2024

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

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Price for Crude Oil and Processed Petroleum in Myanmar - 2022

Price for Crude Oil and Processed Petroleum in Myanmar (CIF) - 2022

The average import price for crude oil and processed petroleum stood at $415 per ton in 2022, remaining constant against the previous year. Overall, the import price recorded a deep setback. The growth pace was the most rapid in 2017 when the average import price increased by 103%. The import price peaked at $1,716 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Singapore ($444 per ton) and China ($424 per ton), while the price for Thailand ($345 per ton) and Malaysia ($362 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-11.9%), while the prices for the other major suppliers experienced a decline.

Price for Crude Oil and Processed Petroleum in Myanmar (FOB) - 2022

The average export price for crude oil and processed petroleum stood at $525 per ton in 2022, increasing by 29% against the previous year. Over the period under review, the export price, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2019 an increase of 30%. Over the period under review, the average export prices reached the maximum at $789 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($1,244 per ton), while the average price for exports to South Korea ($321 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 Australia (+43.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Crude Oil and Processed Petroleum in Myanmar

In 2022, the amount of crude oil and processed petroleum imported into Myanmar soared to 11M tons, picking up by 89% against 2021. Over the period under review, imports continue to indicate a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, crude oil and processed petroleum imports surged to $4.6B in 2022. Overall, imports showed a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Crude Oil and Processed Petroleum in Myanmar (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Singapore	2,086	1,677	1,677	3,165	14.9%
Thailand	472	295	430	661	11.9%
Malaysia	40.8	95.6	194	596	144.5%
China	247	136	102	164	-12.8%
Others	98.7	61.6	62.7	64.5	-13.2%
Total	2,944	2,265	2,465	4,650	16.5%

Top Suppliers of Crude Oil and Processed Petroleum to Myanmar in 2022:

Singapore (7.1M tons)
Thailand (1.9M tons)
Malaysia (1.6M tons)
China (0.4M tons)

Exports of Crude Oil and Processed Petroleum in Myanmar

In 2022, shipments abroad of crude oil and processed petroleum increased by 968% to 21K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a sharp decrease.

In value terms, crude oil and processed petroleum exports soared to $11M in 2022. In general, exports, however, continue to indicate a sharp descent.

Export of Crude Oil and Processed Petroleum in Myanmar (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Thailand	45.6	5.3	N/A	3.6	-57.1%
Singapore	8.5	9.9	0.7	2.5	-33.5%
Malaysia	8.9	4.1	N/A	1.8	-41.3%
South Korea	7.3	3.0	N/A	1.4	-42.3%
Vietnam	7.4	3.3	N/A	1.2	-45.5%
Hong Kong SAR	N/A	N/A	N/A	0.7	0%
India	N/A	5.3	N/A	N/A	0%
Others	N/A	1.6	N/A	0.1	-75.0%
Total	77.7	32.4	0.8	11.3	-47.4%

Top Export Markets for Crude Oil and Processed Petroleum from Myanmar in 2022:

Singapore (7.1K tons)
Thailand (4.7K tons)
South Korea (4.4K tons)
Vietnam (2.3K tons)
Malaysia (2.2K tons)
Hong Kong SAR (0.6K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for crude oil and processed petroleum 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