Myanmar: Market for Furnishing Articles, Furniture and Cushion Covers 2024

Market Size for Furnishing Articles, Furniture and Cushion Covers in Myanmar

In 2022, the Myanmar's market for furnishing articles, furniture and cushion covers was finally on the rise to reach $X for the first time since 2016, thus ending a five-year declining trend. Overall, consumption, however, showed a deep slump. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Production of Furnishing Articles, Furniture and Cushion Covers in Myanmar

In value terms, production of furnishing articles, furniture and cushion covers contracted to $X in 2022 estimated in export price. Overall, production recorded a abrupt downturn. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production of growth remained at a somewhat lower figure.

Exports of Furnishing Articles, Furniture and Cushion Covers

Exports from Myanmar

In 2022, shipments abroad of furnishing articles, furniture and cushion covers decreased by X% to X kg, falling for the second consecutive year after five years of growth. Overall, exports faced a significant curtailment. The pace of growth was the most pronounced in 2019 with an increase of X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, exports of furnishing articles, furniture and cushion covers declined sharply to $X in 2022. In general, exports faced a sharp decrease. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X kg), China (X kg) and Singapore (X kg) were the main destinations of exports of furnishing articles, furniture and cushion covers from Myanmar.

From 2014 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, China ($X) emerged as the key foreign market for furnishing articles, furniture and cushion covers exports from Myanmar, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports.

From 2014 to 2022, the average annual rate of growth in terms of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Singapore (X% per year).

Export Prices by Country

The average export price for furnishing articles, furniture and cushion covers stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the export price showed a abrupt slump. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Singapore ($X 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 Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Furnishing Articles, Furniture and Cushion Covers

Imports into Myanmar

Imports of furnishing articles, furniture and cushion covers into Myanmar skyrocketed to X tons in 2022, rising by X% against 2021 figures. In general, imports posted a significant expansion. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, imports of hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, imports of furnishing articles, furniture and cushion covers surged to $X in 2022. Over the period under review, imports continue to indicate temperate growth. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest furnishing article, furniture and cushion cover supplier to Myanmar, with a X% share of total imports. Moreover, imports of furnishing articles, furniture and cushion covers from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%.

In value terms, China ($X) constituted the largest supplier of furnishing articles, furniture and cushion covers to Myanmar, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%.

Import Prices by Country

In 2022, the average import price for furnishing articles, furniture and cushion covers amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a significant contraction. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for China stood at $X per ton.

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

Source: IndexBox Platform

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