Bangladesh: Twine Product Market 2024

Twine Product Market Size in Bangladesh

The Bangladeshi twine product market contracted to $X in 2022, dropping by -11.4% against the previous year. Overall, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -25.6% against 2019 indices. Twine product consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Twine Product Production in Bangladesh

In value terms, twine product production fell to $X in 2022 estimated in export price. Over the period under review, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.9% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 49%. Twine product production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Twine Product Exports

Exports from Bangladesh

For the seventh consecutive year, Bangladesh recorded growth in shipments abroad of articles of twine, cordage, rope or cables, which increased by 16% to X tons in 2022. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 154% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, twine product exports stood at $X in 2022. In general, exports recorded a significant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 118%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for twine product exports from Bangladesh, with a 97% share of total exports. It was followed by India (X tons), with a 0.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +78.1%.

In value terms, the United States ($X) remains the key foreign market for articles of twine, cordage, rope or cables exports from Bangladesh, comprising 93% of total exports. The second position in the ranking was taken by India ($X), with a 0.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +65.4%.

Export Prices by Country

In 2022, the average twine product export price amounted to $X per ton, dropping by -7.5% against the previous year. Over the period under review, the export price saw a deep reduction. The most prominent rate of growth was recorded in 2017 an increase of 39% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to India totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (-2.5%).

Twine Product Imports

Imports into Bangladesh

In 2022, imports of articles of twine, cordage, rope or cables into Bangladesh contracted remarkably to X tons, dropping by -27.9% against the previous year. Overall, imports, however, recorded a significant increase. The pace of growth was the most pronounced in 2014 when imports increased by 224%. Over the period under review, imports reached the maximum at X tons in 2021, and then contracted sharply in the following year.

In value terms, twine product imports shrank markedly to $X in 2022. In general, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 230% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

China (X tons), Vietnam (X tons) and Hong Kong SAR (X tons) were the main suppliers of twine product imports to Bangladesh, together comprising 90% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +66.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of articles of twine, cordage, rope or cables to Bangladesh, comprising 55% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 27% share of total imports. It was followed by Hong Kong SAR, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +39.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+69.3% per year) and Hong Kong SAR (+64.3% per year).

Import Prices by Country

In 2022, the average twine product import price amounted to $X per ton, standing approx. at the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, twine product import price increased by +111.0% against 2017 indices. The most prominent rate of growth was recorded in 2019 an increase of 32% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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