Myanmar: Wood Tool Market 2024

Wood Tool Market Size in Myanmar

In 2022, the Myanmar's wood tool market decreased by X% to less than $X for the first time since 2015, thus ending a six-year declining trend. Overall, consumption faced a sharp descent. The pace of growth appeared the most rapid in 2018 with a decrease of X% against the previous year. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Wood Tool Production in Myanmar

In value terms, wood tool production expanded slightly to $X in 2022 estimated in export price. Overall, the total production indicated a notable increase 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 increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Wood Tool Exports

Exports from Myanmar

In 2019, the amount of tools of wood exported from Myanmar surged to X tons, rising by X% against 2018. In general, exports, however, continue to indicate a abrupt contraction. The exports peaked at X tons in 2015; however, from 2016 to 2019, the exports failed to regain momentum.

In value terms, wood tool exports soared to $X in 2019. Overall, exports, however, saw a dramatic descent. The exports peaked at $X in 2015; however, from 2016 to 2019, the exports remained at a lower figure.

Exports by Country

South Korea (X tons), Taiwan (Chinese) (X tons) and Pakistan (X tons) were the main destinations of wood tool exports from Myanmar, with a combined X% share of total exports. Malaysia and Singapore lagged somewhat behind, together comprising a further X%.

From 2015 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) remains the key foreign market for tools of wood exports from Myanmar, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with an X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2015 to 2019, 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: Malaysia (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The average wood tool export price stood at $X per ton in 2019, falling by X% against the previous year. In general, the export price faced a sharp setback. The growth pace was the most rapid in 2018 when the average export price increased by X%. The export price peaked at $X per ton in 2015; however, from 2016 to 2019, the export prices failed to regain momentum.

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

From 2015 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced a decline.

Wood Tool Imports

Imports into Myanmar

In 2022, approx. X tons of tools of wood were imported into Myanmar; shrinking by X% on the year before. Over the period under review, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then fell slightly in the following year.

In value terms, wood tool imports contracted remarkably to $X in 2022. Overall, imports, however, posted significant growth. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main supplier of wood tool to Myanmar, with a X% share of total imports. Moreover, wood tool imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms 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, Vietnam ($X), China ($X) and Thailand ($X) were the largest wood tool suppliers to Myanmar, with a combined X% share of total imports.

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

Import Prices by Country

In 2022, the average wood tool import price amounted to $X per ton, shrinking by X% against the previous year. In general, the import price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2016 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :