Myanmar: Market for Blankets And Travelling Rugs Of Synthetic Fibres 2023

Market Size for Blankets And Travelling Rugs Of Synthetic Fibres in Myanmar

In 2021, the Myanmar's market for blankets and travelling rugs of synthetic fibres decreased by -43.8% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption saw a pronounced reduction. Travelling rugs of synthetic fibre consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Exports of Blankets And Travelling Rugs Of Synthetic Fibres

Exports from Myanmar

In 2021, the amount of blankets and travelling rugs of synthetic fibres exported from Myanmar surged to X units, rising by 56% against the previous year's figure. Over the period under review, exports enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2019 with an increase of 524% against the previous year. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, travelling rugs of synthetic fibre exports soared to $X in 2021. Overall, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 726% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Japan (X units) and Hong Kong SAR (X units) were the main destinations of travelling rugs of synthetic fibre exports from Myanmar, with a combined 87% share of total exports. These countries were followed by Germany, Canada, Austria, the United Arab Emirates, Thailand and South Korea, which together accounted for a further 11%.

From 2012 to 2021, the biggest increases were in Canada (with a CAGR of +395.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for travelling rugs of synthetic fibre exported from Myanmar were Hong Kong SAR ($X), Japan ($X) and the United States ($X), with a combined 89% share of total exports. Canada, Germany, Austria, the United Arab Emirates, Thailand and South Korea lagged somewhat behind, together accounting for a further 8.4%.

Among the main countries of destination, Canada, with a CAGR of +685.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for blankets and travelling rugs of synthetic fibres stood at $X per unit in 2021, waning by -13.3% against the previous year. Over the period under review, export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +8.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, travelling rugs of synthetic fibre export price decreased by -20.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 65%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+53.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Blankets And Travelling Rugs Of Synthetic Fibres

Imports into Myanmar

In 2021, overseas purchases of blankets and travelling rugs of synthetic fibres decreased by -50.9% to X units, falling for the second year in a row after two years of growth. Overall, imports, however, saw modest growth. The pace of growth was the most pronounced in 2016 when imports increased by 78% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, travelling rugs of synthetic fibre imports dropped dramatically to $X in 2021. In general, imports showed a noticeable decline. The most prominent rate of growth was recorded in 2015 with an increase of 25% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of travelling rugs of synthetic fibre to Myanmar, with a 96% share of total imports. Moreover, travelling rugs of synthetic fibre imports from China exceeded the figures recorded by the second-largest supplier, India (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest.

In value terms, China ($X) constituted the largest supplier of travelling rugs of synthetic fibre to Myanmar, comprising 93% of total imports. The second position in the ranking was held by India ($X), with a 6.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled -3.1%.

Import Prices by Country

In 2021, the average import price for blankets and travelling rugs of synthetic fibres amounted to $X per unit, surging by 30% against the previous year. Overall, the import price, however, saw a perceptible decline. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was India ($X per unit), while the price for China stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.1%).

Source: IndexBox Market Intelligence Platform

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