Price for Safety Pins and Other Pins; of Iron or Steel in Myanmar - 2023

Price for Safety Pins and Other Pins; of Iron or Steel in Myanmar (CIF) - 2022

The average import price for safety pins and other pins; of iron or steels stood at $2,352 per ton in 2022, with an increase of 21% against the previous year. Overall, the import price, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the average import price increased by 48%. The import price peaked at $8,599 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 South Korea ($3,195 per ton), while the price for India ($1,459 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-10.0%), while the prices for the other major suppliers experienced a decline.

Price for Safety Pins and Other Pins; of Iron or Steel in Myanmar (FOB) - 2022

The average export price for safety pins and other pins; of iron or steels stood at $13,750 per ton in 2021, remaining stable against the previous year. Over the period under review, the export price posted a significant expansion. The pace of growth appeared the most rapid in 2020 when the average export price decreased by 99.9% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Switzerland.

From 2019 to 2021, the rate of growth in terms of prices for Canada amounted to 0.0% per year.

Imports of Safety Pins and Other Pins; of Iron or Steel in Myanmar

In 2022, supplies from abroad of safety pins and other pins; of iron or steels was finally on the rise to reach 129 tons after two years of decline. In general, imports, however, recorded a precipitous setback.

In value terms, imports of safety pins and other pins; of iron or steels soared to $303K in 2022. Over the period under review, imports, however, showed a precipitous decrease.

Import of Safety Pins and Other Pins; of Iron or Steel in Myanmar (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	697	369	96.2	188	-35.4%
Thailand	5.3	4.5	27.9	66.7	132.6%
Japan	276	33.6	18.2	25.8	-54.6%
India	22.7	23.0	17.8	12.5	-18.0%
South Korea	83.2	11.3	6.5	3.2	-66.2%
Others	49.3	15.7	4.7	6.7	-48.6%
Total	1,133	457	171	303	-35.6%

Top Suppliers of Safety Pins and Other Pins; of Iron or Steel to Myanmar in 2022:

China (77.4 tons)
Thailand (32.5 tons)
Japan (8.7 tons)
India (8.6 tons)
South Korea (1.0 tons)

Exports of Safety Pins and Other Pins; of Iron or Steel in Myanmar

In 2021, the amount of safety pins and other pins; of iron or steels exported from Myanmar was estimated at 132 kg, approximately mirroring 2020. In general, exports saw a significant curtailment. The smallest decline of 99.9% was in 2020.

In value terms, exports of safety pins and other pins; of iron or steels totaled $1.8K in 2021. Over the period under review, exports continue to indicate significant growth. The smallest decline of 99.9% was in 2020. The exports peaked in 2021 and are likely to continue growth in the immediate term.