Bangladesh: Biological Product Market 2024

Biological Product Market Size in Bangladesh

The Bangladeshi biological product market declined to $X in 2022, shrinking by X% 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, recorded strong growth. Biological product consumption peaked at $X in 2021, and then contracted in the following year.

Biological Product Exports

Exports from Bangladesh

In 2022, the amount of biological products exported from Bangladesh shrank markedly to X tons, falling by X% compared with 2021. Overall, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then declined remarkably in the following year.

In value terms, biological product exports declined remarkably to $X in 2022. Over the period under review, exports showed a deep downturn. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for biological product exports from Bangladesh, accounting for a X% share of total exports. Moreover, biological product exports to Vietnam exceeded the volume sent to the second major destination, Singapore (X kg), sixfold. Sri Lanka (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Sri Lanka (X% per year).

In value terms, Singapore ($X) remains the key foreign market for biological products exports from Bangladesh, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Sri Lanka, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Singapore was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Sri Lanka (X% per year).

Export Prices by Country

The average biological product export price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (X%), while the prices for the other major destinations experienced mixed trend patterns.

Biological Product Imports

Imports into Bangladesh

Biological product imports into Bangladesh contracted to X tons in 2022, with a decrease of X% on 2021 figures. Over the period under review, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked at X tons in 2021, and then shrank in the following year.

In value terms, biological product imports shrank to $X in 2022. Overall, imports, however, posted a resilient increase. The growth pace was the most rapid in 2015 with an increase of X%. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

India (X tons), France (X tons) and China (X tons) were the main suppliers of biological product imports to Bangladesh, with a combined X% share of total imports. The United States, South Korea, the Netherlands, Denmark, Spain, Germany, Italy, Belgium, Japan and Singapore lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of biological products to Bangladesh, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by Belgium, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Belgium (X% per year).

Import Prices by Country

The average biological product import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, biological product import price decreased by X% against 2018 indices. The pace of growth appeared the most rapid in 2015 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X,502 per ton), while the price for Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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