Waxes; Artificial, Prepared Price in Myanmar - 2022

Waxes; Artificial, Prepared Price in Myanmar (CIF) - 2022

In 2022, the average waxes; artificial, prepared import price amounted to $1,188 per ton, with an increase of 14% against the previous year. In general, the import price, however, showed a pronounced shrinkage. The pace of growth was the most pronounced in 2019 when the average import price increased by 20% against the previous year. The import price peaked at $1,843 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 Singapore ($3,198 per ton), while the price for China ($826 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+0.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Waxes; Artificial, Prepared Price in Myanmar (FOB) - 2022

The average waxes; artificial, prepared export price stood at $957 per ton in 2022, falling by -2.5% against the previous year. Overall, the export price continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2019 an increase of 7.2%. Over the period under review, the average export prices reached the maximum at $5,849 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -16.6% per year.

Waxes; Artificial, Prepared Imports in Myanmar

In 2022, approx. 495 tons of waxes; artificial, prepared were imported into Myanmar; surging by 12% on 2021. The total import volume increased at an average annual rate of +4.3% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 19% against the previous year. As a result, imports attained the peak of 516 tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, waxes; artificial, prepared imports soared to $588K in 2022. Over the period under review, imports, however, showed a noticeable slump.

Import of Waxes; Artificial, Prepared in Myanmar (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	189	294	206	266	12.1%
India	205	179	120	128	-14.5%
Thailand	76.6	82.7	53.5	76.1	-0.2%
Taiwan (Chinese)	53.3	49.9	37.7	50.6	-1.7%
Indonesia	30.9	27.2	18.9	21.6	-11.3%
Others	124	81.3	25.0	44.8	-28.8%
Total	679	714	462	588	-4.7%

Top Suppliers of Waxes; Artificial, Prepared to Myanmar in 2022:

China (322.4 tons)
Thailand (58.7 tons)
India (55.1 tons)
Taiwan (Chinese) (30.9 tons)
Indonesia (15.8 tons)

Waxes; Artificial, Prepared Exports in Myanmar

After three years of growth, overseas shipments of waxes; artificial, prepared decreased by -10.4% to 160 tons in 2022. In general, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +14.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 34% against the previous year.

In value terms, waxes; artificial, prepared exports dropped to $153K in 2022. Overall, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +16.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +55.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 34%.