Plugs and Socket Price in Myanmar - 2023

Contents:

1. Plugs and Socket Price in Myanmar (CIF) - 2022
2. Plugs and Socket Price in Myanmar (FOB) - 2022
3. Plugs and Socket Imports in Myanmar
4. Plugs and Socket Exports in Myanmar

Plugs and Socket Price in Myanmar (CIF) - 2022

In 2022, the average plugs and socket import price amounted to $13 per thousand units, shrinking by -33.9% against the previous year. In general, the import price, however, recorded a pronounced increase. The pace of growth was the most pronounced in 2016 an increase of 70% against the previous year. As a result, import price attained the peak level of $30 per thousand units. From 2017 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($48 per thousand units), while the price for Thailand ($6.6 per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+28.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Plugs and Socket Price in Myanmar (FOB) - 2022

In 2022, the average plugs and socket export price amounted to $1 per unit, with an increase of 10% against the previous year. In general, the export price saw a prominent increase. The growth pace was the most rapid in 2019 when the average export price increased by 380%. Over the period under review, the average export prices reached the peak figure at $3.1 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 ($1.2 per unit), while the average price for exports to Austria ($0.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Plugs and Socket Imports in Myanmar

In 2022, after two years of decline, there was significant growth in supplies from abroad of electrical plugs and sockets for under 1000 v, when their volume increased by 43% to 133M units. Over the period under review, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, plugs and socket imports contracted to $1.7M in 2022. Overall, imports, however, faced a deep contraction. Imports peaked at $2.8M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Top Suppliers of Plugs and Socket to Myanmar in 2022:

1. China (81.0M units)
2. Thailand (41.9M units)
3. Vietnam (7.5M units)

Plugs and Socket Exports in Myanmar

For the fourth consecutive year, Myanmar recorded growth in overseas shipments of electrical plugs and sockets for under 1000 v, which increased by 81% to 200K units in 2022. In general, exports saw significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 275% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, plugs and socket exports skyrocketed to $192K in 2022. Overall, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Plugs and Socket from Myanmar in 2022:

1. Germany (126.4K units)
2. Austria (26.9K units)
3. Singapore (24.9K units)
4. United States (10.3K units)
5. Thailand (5.7K units)

Source: IndexBox Market Intelligence Platform