Bangladesh: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in Bangladesh

In 2021, the Bangladeshi electrical circuit apparatus market increased by 20% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -30.8% against 2018 indices. Electrical circuit apparatus consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Electrical Circuit Apparatus Exports

Exports from Bangladesh

In 2021, after two years of decline, there was significant growth in overseas shipments of electrical apparatus for circuit connection, switching and protection, when their volume increased by 13% to X tons. In general, exports, however, showed a pronounced contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 116%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, electrical circuit apparatus exports surged to $X in 2021. Overall, exports saw a remarkable increase. The growth pace was the most rapid in 2018 with an increase of 152%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nepal (X tons), India (X tons) and Mexico (X tons) were the main destinations of electrical circuit apparatus exports from Bangladesh, together comprising 68% of total exports. These countries were followed by Myanmar, Tunisia, Singapore and Chile, which together accounted for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of +102.7%), while the other leaders experienced more modest paces of growth.

In value terms, Nepal ($X) remains the key foreign market for electrical circuit apparatus exports from Bangladesh, comprising 48% of total exports. The second position in the ranking was taken by Tunisia ($X), with a 17% share of total exports. It was followed by India, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Nepal totaled +19.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (0.0% per year) and India (+3.2% per year).

Export Prices by Country

In 2021, the average electrical circuit apparatus export price amounted to $X per ton, rising by 2.3% against the previous year. Over the period under review, the export price recorded a strong increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 169% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Tunisia ($X per ton), while the average price for exports to Mexico ($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 the Czech Republic (+87.1%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports into Bangladesh

After two years of decline, supplies from abroad of electrical apparatus for circuit connection, switching and protection increased by 32% to X tons in 2021. Over the period under review, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 34% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, electrical circuit apparatus imports surged to $X in 2021. Overall, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -30.5% against 2018 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 38%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest electrical circuit apparatus supplier to Bangladesh, accounting for a 54% share of total imports. Moreover, electrical circuit apparatus imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sixfold. Turkey (X tons) ranked third in terms of total imports with a 9.5% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+43.6% per year) and Turkey (+19.9% per year).

In value terms, China ($X) constituted the largest supplier of electrical circuit apparatus to Bangladesh, comprising 32% of total imports. The second position in the ranking was held by India ($X), with a 12% share of total imports. It was followed by Italy, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+8.7% per year) and Italy (+6.6% per year).

Import Prices by Country

In 2021, the average electrical circuit apparatus import price amounted to $X per ton, shrinking by -10% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 18%. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+20.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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