Myanmar: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Myanmar

The Myanmar's wooden bedroom furniture market shrank markedly to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Wooden Bedroom Furniture Production in Myanmar

In value terms, wooden bedroom furniture production expanded significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Wooden Bedroom Furniture Exports

Exports from Myanmar

Wooden bedroom furniture exports from Myanmar skyrocketed to X units in 2022, jumping by X% compared with the year before. Overall, exports recorded a significant increase. The growth pace was the most rapid in 2014 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, wooden bedroom furniture exports surged to $X in 2022. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

India (X units) was the main destination for wooden bedroom furniture exports from Myanmar, with a X% share of total exports. It was followed by Singapore (X units), with a X% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of volume to India amounted to X%.

In value terms, India ($X) remains the key foreign market for wooden furniture of a kind used in the bedroom exports from Myanmar, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value to India stood at X%.

Export Prices by Country

The average wooden bedroom furniture export price stood at $X per unit in 2022, reducing by X% against the previous year. In general, the export price faced a abrupt curtailment. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to India stood at $X per unit.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%), while the prices for the other major destinations experienced a decline.

Wooden Bedroom Furniture Imports

Imports into Myanmar

In 2022, supplies from abroad of wooden furniture of a kind used in the bedroom increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, wooden bedroom furniture imports skyrocketed to $X in 2022. In general, imports posted resilient growth. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest wooden bedroom furniture supplier to Myanmar, with a X% share of total imports. Moreover, wooden bedroom furniture imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), fivefold.

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

In value terms, China ($X), South Korea ($X) and Thailand ($X) appeared to be the largest wooden bedroom furniture suppliers to Myanmar, together accounting for X% of total imports.

In terms of the main suppliers, South Korea, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average wooden bedroom furniture import price stood at $X per unit in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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