Myanmar: Wire And Cable Market 2024

Wire And Cable Market Size in Myanmar

In 2022, after four years of decline, there was growth in the Myanmar's wire and cable market, when its value increased by X% to $X. Over the period under review, consumption, however, recorded a noticeable curtailment. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Wire And Cable Production in Myanmar

In value terms, wire and cable production contracted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

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Wire And Cable Exports

Exports from Myanmar

In 2022, exports of insulated wire and cable from Myanmar soared to X tons, picking up by X% compared with 2021. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, wire and cable exports surged to $X in 2022. Over the period under review, exports saw significant growth. The growth pace was the most rapid in 2019 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

China (X tons) was the main destination for wire and cable exports from Myanmar, accounting for a X% share of total exports. Moreover, wire and cable exports to China exceeded the volume sent to the second major destination, Thailand (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Vietnam (X% per year).

In value terms, China ($X), Thailand ($X) and Hong Kong SAR ($X) constituted the largest markets for wire and cable exported from Myanmar worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, Hong Kong SAR, with a CAGR of X%, saw the highest growth rate of 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

In 2022, the average wire and cable export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price enjoyed a prominent increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, 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 mixed trend patterns.

Wire And Cable Imports

Imports into Myanmar

In 2022, overseas purchases of insulated wire and cable increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, wire and cable imports rose sharply to $X in 2022. Overall, imports showed a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of wire and cable to Myanmar, with a X% share of total imports. Moreover, wire and cable imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with an X% share.

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

In value terms, China ($X), Vietnam ($X) and Thailand ($X) appeared to be the largest wire and cable suppliers to Myanmar, with a combined X% share of total imports.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wire and cable import price stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the import price saw a deep slump. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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