Myanmar does not currently have a strong base in consumer goods production so it imports the majority of its consumer goods from neighboring countries such as Malaysia, Thailand, China, Singapore and India
Top trading partners (import sources) of Myanmar in 2019 were China with a share of 34% (USD 6.44 billion), Singapore with a share of 18.2% (USD 3.38 billion), Thailand with a share of 11.6% (USD 2.17 billion), Malaysia with a share of 5.08% (USD 944 million), Indonesia with a share of 4.87% (USD 906 million), India with a share of 3.77% (USD 700 million), Vietnam with a share of 3.36% (USD 624 million), Japan with a share of 2.69% (USD 501 million), Korea with a share of 2.42% (USD 450 million), USA with a share of 1.86% (USD 346 million).
E-commerce in Myanmar is in its nascent stage, with just USD 6 million (K9.16 billion) in market value, according to Colliers. In comparison, Myanmar’s retail market is estimated to be worth USD 10 billion, according to export.gov.
The Myanmar retail sector has seen a large number of foreign consumer brands enter the country and sold in stores over the past four years. The value of retail sector in Myanmar is between USD 10 and USD 12 billion in 2018. Consumer buying power will continue to be concentrated in Yangon and Mandalay.
At the end of 2018, Yangon’s retail space reached the 400,000 sq meters mark up by 17 percent quarter on quarter and 24 percent year on year. In 2019, Yangon is projected to have an additional 150,700 sq meters (1.6 million sq feet) of leasable space which is the highest in Myanmar to date.
Source : EXPORT.GOV, World Top Export, MyanmarTimes, DITP Yangon, tradingeconomic.com
