Myanmar's aluminium foil importation during 2019-22 indicates a volatile market

A key geostrategic location, abundant natural resources, a young population, and a vital geopolitical position make Myanmar one of the fastest-growing economies in the Asia Pacific. The principal industries contributing to Myanmar’s economy are agriculture, mining and tourism.

Aluminium foil is used at home for perishable foods and dairy products also for longer storage, to cover baking surfaces and to wrap foods, such as meats, to prevent them from losing moisture while cooking.  The usage is not limited to food only; it can also be used to put on windows to keep the house cool during summer and hot during winter.

The Southeast Asian nation, Myanmar imported aluminium foil of around 12,466 tonnes of aluminium foil during 2019-21, incurring revenue expenditure of $28.83 million for the import.

In 2019, Myanmar import data illustrated only 791 tonnes of aluminium foil, which attracted revenue expenditure of $1.79 million, whereas, in 2020, the import depicted a sharp rise by 1028%, as the import volume soared to 8923 tonnes, propelling expenditure to excel $18.29 million.

Myanmar’s import of aluminium foil in 2021 witnessed a hefty downfall, as the import volume dropped to 2752 tonnes and expenditures slashed to $8.78 million.

Myanmar’s import of aluminium foil in 2021 witnessed a hefty downfall, as the import volume dropped to 2752 tonnes and expenditures slashed to $8.78 million.

The import for 2022 is evaluated again with a growth of 53.08%, as the import volume is expected to ascend to 4213 tonnes and expenditure to stand out at $14.23 million.

The major trading destinations for Myanmar’s import of aluminium foil are China, Indonesia, Italy, Indonesia, etc.