Myanmar: Walking-Sticks And Whips Market 2023

Walking-Sticks And Whips Market Size in Myanmar

The Myanmar's walking-sticks and whips market shrank dramatically to $X in 2021, falling by -75.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a abrupt setback. Walking-sticks and whips consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Walking-Sticks And Whips Exports

Exports from Myanmar

In 2021, exports of walking-sticks, seat-sticks, whips and riding-crops from Myanmar soared to X kg, increasing by 190% compared with the previous year. Over the period under review, exports continue to indicate buoyant growth. The growth pace was the most rapid in 2017 when exports increased by 515%. Over the period under review, the exports reached the peak figure at X kg in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, walking-sticks and whips exports skyrocketed to $X in 2021. In general, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 782%. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

Turkey (X kg), China (X kg) and the UK (X kg) were the main destinations of walking-sticks and whips exports from Myanmar, with a combined 92% share of total exports. Thailand lagged somewhat behind, accounting for a further 6.6%.

From 2012 to 2021, the biggest increases were in Thailand (with a CAGR of +29.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for walking-sticks and whips exports from Myanmar, comprising 61% of total exports. The second position in the ranking was held by Turkey ($X), with a 20% share of total exports. It was followed by the UK, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (0.0% per year) and the UK (0.0% per year).

Export Prices by Country

The average walking-sticks and whips export price stood at $X per ton in 2021, with a decrease of -25.3% against the previous year. Overall, the export price, however, posted a resilient increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 98%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+37.5%), while the prices for the other major destinations experienced more modest paces of growth.

Walking-Sticks And Whips Imports

Imports into Myanmar

For the third consecutive year, Myanmar recorded decline in overseas purchases of walking-sticks, seat-sticks, whips and riding-crops, which decreased by -50.8% to X kg in 2021. Overall, imports recorded a deep setback. The growth pace was the most rapid in 2018 with an increase of 251% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, walking-sticks and whips imports dropped rapidly to $X in 2021. In general, imports continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 340% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X kg) constituted the largest walking-sticks and whips supplier to Myanmar, with a 83% share of total imports. Moreover, walking-sticks and whips imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X kg), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -9.9%.

In value terms, China ($X) constituted the largest supplier of walking-sticks and whips to Myanmar, comprising 90% of total imports. The second position in the ranking was held by Singapore ($X), with an 8.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -6.0%.

Import Prices by Country

The average walking-sticks and whips import price stood at $X per ton in 2021, which is down by -15.3% against the previous year. Over the period under review, the import price, however, enjoyed a notable increase. The pace of growth was the most pronounced in 2014 when the average import price increased by 30%. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then declined notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Singapore stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.4%).

Source: IndexBox Market Intelligence Platform

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