A Southeast Asian country surrounded by India, Bangladesh, Thailand, Laos and China, the Republic of the Union of Myanmar bought US$16.4 billion worth of imported products from global markets in 2023.

That dollar amount results from an -11.7% decline compared to $18.6 billion 5 years earlier in 2019.

Year over year, the value of total imports into Myanmar fell by -5.5% compared to $17.4 billion starting from 2022.

Based on the average exchange rate for 2023, the Myanmar kyat depreciated by -38.3% against the US dollar since 2019 and weakened by -8.7% from 2022 to 2023. Its weaker local currency in 2023 made Myanmar’s imports paid for in Myanmar kyats relatively more expensive for buyers located in Myanmar.

Major Suppliers of Myanmar’s Imported Products

The latest available country-specific data shows that 93.6% of products imported into Myanmar was furnished by exporters in: mainland China (31% of Myanmar’s total), Singapore (22.5%), Thailand (12.8%), Malaysia (8.3%), Indonesia (7.2%), South Korea (3.4%), India (2.7%), Vietnam (1.8%), Japan (1.2%), United States of America (1.1%), Oman (0.84%) and Australia (0.83%).

Applying a continental lens, 93.9% of Myanmar’s imports by total cost were purchased from fellow Asian countries. Trade partners located in Europe supplied 2.8% of imports purchased by Myanmar while another 1.2% worth of goods originated from sellers in North America.

Tinier percentages came from exporters in Latin America (1%) excluding Mexico but including the Caribbean, Oceania (1%) led by Australia and New Zealand, then Africa (0.02%).

Given Myanmar’s population of 54.2 million people, its total $16.4 billion in 2023 imports translates to roughly $300 in yearly product demand from every person living in the Southeast Asian nation also known as Burma. That dollar amount lags the average $320 per capita one year earlier during 2022.

Myanmar’s Top 10 Imports

The following product groups represent the highest dollar value in Myanmar’s import purchases during 2023. Also shown is the percentage share each product category represents in terms of overall imports into Myanmar.

1. Mineral fuels including oil: US$5.4 billion (32.9% of total imports)
2. Machinery including computers: $964.7 million (5.9%)
3. Electrical machinery, equipment: $778 million (4.7%)
4. Animal/vegetable fats, oils, waxes: $652.6 million (4%)
5. Iron, steel: $649.5 million (4%)
6. Manmade filaments: $633.3 million (3.9%)
7. Fertilizers: $586.7 million (3.6%)
8. Plastics, plastic articles: $575 million (3.5%)
9. Manmade staple fibers: $541.8 million (3.3%)
10. Pharmaceuticals: $407.8 million (2.5%)

Myanmar’s top 10 import product categories generated more than two-thirds (68.3%) of the overall value of its product purchases from other countries.

Imported fertilizers attracted the fastest growth in spending among Myanmar’s top 10 import categories via a 50.9% uptick from 2022 to 2023.

In second place for improving Burmese import purchases were products under the manmade filaments category which expanded by 21.3%.

Mineral fuels including oil imported into Myanmar grew by 3.5% from 2022.

Leading the year-over-year declines were Myanmar’s imports of pharmaceuticals (down -32.5% year over year).

Please note that the results listed above are at the 2-digit Harmonized Tariff System (HTS) code level. Information presented below delves into the more granular 4-digit HTS codes.

From the more detailed codes perspective, Myanmar’s top 5 most valuable imported products are refined petroleum oils (31.6% of the overall total), palm oil (3.8%), synthetic yar woven fabrics (3.5%), fertilizer mixes (2.8%) then light vessels, fireboats plus floating docks (2.3%).

That cohort of 5 main imports represent over four-fifths (44%) of Myanmar’s overall spending on imported products in 2023.

Myanmar’s Main Imported Fuels

In 2023, Burmese importers spent the most on the following 10 subcategories of mineral fuels-related goods.

1. Processed petroleum oils: US$5.2 billion (up 3.4% from 2022)
2. Electrical energy: $70.3 million (up 198.4%)
3. Petroleum gases: $62.1 million (down -11%)
4. Petroleum jelly, mineral waxes: $34.3 million (down -22.1%)
5. Natural bitumen, asphalt, shale: $15.3 million (down -30.3%)
6. Coal, solid fuels made from coal: $12.9 million (up 83.2%)
7. Petroleum oil residues: $12.4 million (down -53.5%)
8. Coal tar oils (high temperature distillation): $1.3 million (down -38.8%)
9. Asphalt/petroleum bitumen mixes: $157,000 (down -43.1%)
10. Coke, semi-coke: $112,000 (down -42.6%)

Among these import subcategories, Burmese purchases of electrical energy (up 198.4%), coal including solid fuels made from coal (up 83.2%) then processed petroleum oils (up 3.4%) grew from 2022 to 2023.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported mineral fuels including oil among businesses and consumers in Myanmar.

Myanmar’s Main Imported Machinery

In 2023, Burmese importers spent the most on the following 10 subcategories of machinery.

1. Machinery parts: US$366 million (up 170.9% from 2022)
2. Heavy machinery (bulldozers, excavators, road rollers): $76.8 million (down -40.2%)
3. Harvest/threshing machinery: $45.7 million (up 160.9%)
4. Engines (diesel): $38 million (up 45.2%)
5. Air conditioners: $34.3 million (down -12.5%)
6. Liquid pumps and elevators: $28.1 million (down -10.9%)
7. Industrial preparation machinery: $24.6 million (up 57.2%)
8. Refrigerators, freezers: $20.4 million (down -29.9%)
9. Air or vacuum pumps: $20.2 million (down -20.4%)
10. Miscellaneous machinery: $19 million (down -4.6%)

Among these import subcategories, Burmese purchases of machinery parts (up 170.9%), harvest and threshing machinery (up 160.9%) then industrial preparation machinery (up 57.2%) grew at the fastest pace from 2022 to 2023.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery including computers among businesses and consumers in Myanmar.

Myanmar’s Main Imported Electrical Products

In 2023, Burmese importers spent the most on the following 10 subcategories of electrical items including consumer electronics.

1. Solar power diodes/semi-conductors: US$117.6 million (up 109.7% from 2022)
2. Electrical converters/power units: $88.2 million (down -23.4%)
3. Electric storage batteries: $87.1 million (up 10.8%)
4. Phone devices including smartphones: $82.6 million (down -6.7%)
5. High-voltage switches, fuses: $74.2 million (up 129.1%)
6. Electric generating sets, converters: $72.2 million (down -2.6%)
7. Insulated wire/cable: $61.7 million (down -33.5%)
8. Lower-voltage switches, fuses: $25.2 million (down -25%)
9. Electric motors, generators: $20.4 million (up 22.4%)
10. Unrecorded sound media: $18.9 million (up 270%)

Among these import subcategories, Burmese purchases of unrecorded sound media (up 270%), high-voltage switches or fuses (up 129.1%) then solar power diodes and semi-conductors (up 109.7%) grew at the fastest pace from 2022 to 2023.

These amounts and the percentage changes within parenthesis suggest where the strongest demand remains for different types of imported electronics among businesses and consumers in Myanmar.

Myanmar’s Main Imported Animal or Vegetable Fats, Oils

In 2023, Burmese importers spent the most on the following 10 subcategories of animal or vegetable fats and oils.

Myanmar’s importers spent the most on the following 10 subcategories of animal or vegetable fats and oils during 2023.

1. Palm oil: US$627.4 million (down -8.2% from 2022)
2. Margarine: $10.6 million (up 6.5%)
3. Sun/safflower/cotton-seed oil: $10.3 million (down -37.8%)
4. Animal/vegetable hydrogenated fats, oils: $1.4 million (down -70.9%)
5. Soya-bean oil: $1.4 million (up 398.5%)
6. Coconut/palm/babassu oil: $941,000 (down -53.9%)
7. Boiled, oxidized or dehydrated fats and oils: $294,000 (up 434.5%)
8. Vegetable/bees/insect waxes: $156,000 (down -50.5%)
9. Fish/marine mammal fats and oils: $85,000 (down -26.1%)
10. Olive oil: $79,000 (down -1.3%)

Among these import subcategories, Burmese purchases of boiled, oxidized or dehydrated fats and oils (up 434.5%), soya-bean oil (up 398.5%) then margarine (up 6.5%) grew from 2022 to 2023.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported animal or vegetable fats and oils among businesses and consumers in Myanmar.
 

See also Myanmar’s Top 10 Exports, Thailand’s Top Trading Partners, Japan’s Top Trading Partners, India’s Top Trading Partners, Malaysia’s Top Trading Partners and Poland’s Top Trading Partners

Research Sources:
Central Intelligence Agency, The World Factbook East Asia/Southeast Asia: Burma. Accessed on November 18, 2024

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on November 18, 2024

International Trade Centre, Trade Map. Accessed on November 18, 2024

Wikipedia, Myanmar. Accessed on November 18, 2024