Price for Wigs; Complete, of Synthetic Textile Materials in Myanmar - 2023

Price for Wigs; Complete, of Synthetic Textile Materials in Myanmar (FOB) - 2022

In 2022, the average export price for wigs; complete, of synthetic textile materialses amounted to $107 per unit, which is down by -47.7% against the previous year. Overall, the export price, however, posted a prominent expansion. The growth pace was the most rapid in 2019 when the average export price increased by 203% against the previous year. As a result, the export price reached the peak level of $222 per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($1.2 thousand per unit), while the average price for exports to the United States ($73 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 Japan (+41.0%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Wigs; Complete, of Synthetic Textile Materials in Myanmar (CIF) - 2022

In 2022, the average import price for wigs; complete, of synthetic textile materialses amounted to $3.5 per unit, flattening at the previous year. In general, the import price saw a precipitous decrease. The pace of growth was the most pronounced in 2018 when the average import price increased by 8.9% against the previous year. Over the period under review, average import prices attained the peak figure at $47 per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 China ($5.7 per unit), while the price for Thailand stood at $1.6 per unit.

From 2016 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+12.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Wigs; Complete, of Synthetic Textile Materials in Myanmar

For the third year in a row, Myanmar recorded decline in overseas shipments of wigs; complete, of synthetic textile materialses, which decreased by -10.4% to 55K units in 2022. Over the period under review, exports saw a abrupt curtailment. The smallest decline of -2.3% was in 2021. Over the period under review, the exports of attained the maximum at 85K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of wigs; complete, of synthetic textile materialses dropped markedly to $5.9M in 2022. In general, exports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 0.7%. The exports peaked at $19M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Export of Wigs; Complete, of Synthetic Textile Materials in Myanmar (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	4.3	3.3	2.9	2.9	-12.3%
China	4.2	1.9	0.9	1.2	-34.1%
Germany	0.6	0.5	0.5	0.9	14.5%
South Korea	9.1	6.1	7.7	0.2	-72.0%
Others	0.8	0.5	0.5	0.6	-9.1%
Total	19.0	12.4	12.5	5.9	-32.3%

Top Export Markets for Wigs; Complete, of Synthetic Textile Materials from Myanmar in 2022:

United States (39.2K units)
Germany (12.6K units)
China (1.0K units)
South Korea (0.3K units)

Imports of Wigs; Complete, of Synthetic Textile Materials in Myanmar

For the third year in a row, Myanmar recorded decline in purchases abroad of wigs; complete, of synthetic textile materialses, which decreased by 0% to 3.9K units in 2022. In general, imports recorded a significant expansion. The smallest decline of -99.6% was in 2020. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, imports of wigs; complete, of synthetic textile materialses stood at $14K in 2022. Overall, imports enjoyed buoyant growth. The smallest decline of -99.6% was in 2020. Imports peaked in 2022 and are expected to retain growth in the immediate term.