Myanmar: Base Metal Hook Market 2022

Base Metal Hook Market Size in Myanmar

In 2021, the Myanmar's base metal hook market decreased by -X% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption, however, continues to indicate a abrupt contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Base Metal Hook Exports

Exports from Myanmar

In 2021, the amount of base metal hooks, eyes and eyelets exported from Myanmar surged to X tons, growing by X% compared with 2020 figures. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, base metal hook exports soared to $X in 2021. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X tons), South Korea (X tons) and China (X tons) were the main destinations of base metal hook exports from Myanmar, together accounting for X% of total exports.

From 2012 to 2021, the biggest increases were in South Korea (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) remains the key foreign market for base metal hook exports from Myanmar, comprising X% of total exports. The second position in the ranking was occupied by China ($X), with an X% share of total exports. It was followed by Vietnam, with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Vietnam (+X% per year).

Export Prices by Country

In 2021, the average base metal hook export price amounted to $X per ton, falling by -X% against the previous year. Over the period under review, the export price continues to indicate a deep downturn. The pace of growth was the most pronounced in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was South Korea ($X per ton), while the average price for exports to Hong Kong SAR ($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 China (X%), while the prices for the other major destinations experienced a decline.

Base Metal Hook Imports

Imports into Myanmar

In 2021, after five years of growth, there was significant decline in supplies from abroad of base metal hooks, eyes and eyelets, when their volume decreased by -X% to X tons. Overall, imports, however, saw a significant expansion. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2020, and then contracted significantly in the following year.

In value terms, base metal hook imports contracted rapidly to $X in 2021. Over the period under review, imports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest base metal hook supplier to Myanmar, accounting for a X% share of total imports. Moreover, base metal hook imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. The third position in this ranking was occupied by South Korea (X tons), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+X% per year) and South Korea (+X% per year).

In value terms, China ($X) constituted the largest supplier of base metal hook to Myanmar, comprising X% of total imports. The second position in the ranking was occupied by Thailand ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+X% per year) and South Korea (-X% per year).

Import Prices by Country

The average base metal hook import price stood at $X per ton in 2021, waning by -X% against the previous year. In general, the import price recorded a deep setback. The pace of growth appeared the most rapid in 2017 an increase of X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform