Bangladesh: Cork Article Market 2025

Cork Article Market Size in Bangladesh

The Bangladeshi cork article market expanded rapidly to $X in 2021, surging by 8.7% 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). Overall, consumption, however, saw a perceptible downturn. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Cork Article Exports

Exports from Bangladesh

After two years of decline, shipments abroad of cork articles increased by 85% to X kg in 2021. In general, exports, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2018 with an increase of 163%. As a result, the exports reached the peak of X kg. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, cork article exports surged to $X in 2021. Over the period under review, exports, however, showed a abrupt decline. The growth pace was the most rapid in 2018 with an increase of 290% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Poland (X kg) was the main destination for cork article exports from Bangladesh, accounting for a 53% share of total exports. Moreover, cork article exports to Poland exceeded the volume sent to the second major destination, Colombia (X kg), twofold. The third position in this ranking was held by Singapore (X kg), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Poland stood at -9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (0.0% per year) and Singapore (+0.5% per year).

In value terms, Poland ($X) remains the key foreign market for cork articles exports from Bangladesh, comprising 55% of total exports. The second position in the ranking was held by Colombia ($X), with a 22% share of total exports. It was followed by Singapore, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Poland totaled -13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (0.0% per year) and Singapore (+2.0% per year).

Export Prices by Country

In 2021, the average cork article export price amounted to $X per ton, with a decrease of -15.7% against the previous year. In general, the export price saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 69% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+1.5%), while the prices for the other major destinations experienced a decline.

Cork Article Imports

Imports into Bangladesh

In 2021, imports of cork articles into Bangladesh rose significantly to X tons, increasing by 15% against 2020. In general, imports, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2017 when imports increased by 381% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, cork article imports reached $X in 2021. Overall, imports, however, continue to indicate a pronounced slump. The pace of growth appeared the most rapid in 2017 when imports increased by 194%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest cork article supplier to Bangladesh, accounting for a 54% share of total imports. Moreover, cork article imports from India exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+54.2% per year) and China (-18.7% per year).

In value terms, the largest cork article suppliers to Bangladesh were India ($X), Singapore ($X) and Hong Kong SAR ($X), together accounting for 63% of total imports.

Among the main suppliers, Singapore, with a CAGR of +64.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average cork article import price stood at $X per ton in 2021, falling by -12% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the average import price increased by 71%. The import price peaked at $X per ton in 2020, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+53.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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