Myanmar: Pig Iron Articles Market 2024

Pig Iron Articles Market Size in Myanmar

The Myanmar's pig iron articles market declined to $X in 2022, which is down by X% against the previous year. Over the period under review, the total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Pig Iron Articles Production in Myanmar

In value terms, pig iron articles production reduced to $X in 2022 estimated in export price. Overall, the total production indicated modest growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Pig Iron Articles Exports

Exports from Myanmar

In 2019, shipments abroad of granules and powders of pig iron decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, exports faced a abrupt slump. The pace of growth appeared the most rapid in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2019, the growth of the exports remained at a lower figure.

In value terms, pig iron articles exports amounted to $X in 2019. Over the period under review, exports continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2019, the growth of the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for pig iron articles exports from Myanmar, with a approx. X% share of total exports.

From 2016 to 2019, the average annual rate of growth in terms of volume to Vietnam was relatively modest.

From 2016 to 2019, the average annual rate of growth in terms of value to Vietnam was relatively modest.

Export Prices by Country

The average pig iron articles export price stood at $X per ton in 2019, therefore, remained relatively stable against the previous year. Overall, the export price showed a sharp curtailment. The most prominent rate of growth was recorded in 2017 a decrease of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2019, the export prices failed to regain momentum.

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

From 2016 to 2019, the rate of growth in terms of prices for China amounted to X% per year.

Pig Iron Articles Imports

Imports into Myanmar

Pig iron articles imports into Myanmar skyrocketed to X tons in 2022, rising by X% on the previous year's figure. Overall, imports showed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, pig iron articles imports soared to $X in 2022. Over the period under review, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest pig iron articles supplier to Myanmar, accounting for a X% share of total imports. Moreover, pig iron articles imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold. India (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and India (X% per year).

In value terms, China ($X) constituted the largest supplier of granules and powders of pig iron to Myanmar, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports. It was followed by India, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and India (X% per year).

Import Prices by Country

In 2022, the average pig iron articles import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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