Market for Pile And Chenille Fabric in Myanmar
Market Overview
In 
, the Myanmar's pile and chenille fabric market increased by % to $ for the first time since 2019, thus ending a two-year declining trend. In general, consumption posted a buoyant increase. Over the period under review, the market attained the maximum level at $ in 2019; however, from to , consumption failed to regain momentum.
, the Myanmar's pile and chenille fabric market increased by % to $ for the first time since 2019, thus ending a two-year declining trend. In general, consumption posted a buoyant increase. Over the period under review, the market attained the maximum level at $ in 2019; however, from to , consumption failed to regain momentum.Consumption
In , consumption of woven pile fabrics and chenille fabrics was finally on the rise to reach tons for the first time since 2019, thus ending a two-year declining trend. In general, consumption enjoyed a strong increase. Over the period under review, consumption reached the peak volume at tons in 2019; however, from to , consumption stood at a somewhat lower figure.
The value of the pile and chenille fabric market in Myanmar soared to $ in , jumping by % 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 showed a buoyant increase. Pile and chenille fabric consumption peaked at $ in 2019; however, from to , consumption failed to regain momentum.
, consumption of woven pile fabrics and chenille fabrics was finally on the rise to reach tons for the first time since 2019, thus ending a two-year declining trend. In general, consumption enjoyed a strong increase. Over the period under review, consumption reached the peak volume at tons in 2019; however, from to , consumption stood at a somewhat lower figure.The value of the pile and chenille fabric market in Myanmar soared to $
in , jumping by % 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 showed a buoyant increase. Pile and chenille fabric consumption peaked at $ in 2019; however, from to , consumption failed to regain momentum.Market Forecast
Driven by increasing demand for woven pile fabrics and chenille fabrics in Myanmar, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Pile and chenille fabric market in Myanmar consists almost entirely of imported products.
Trade Balance
Myanmar remains a net importer of pile and chenille fabric; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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