Bangladesh: Festive Articles Market 2024

Festive Articles Market Size in Bangladesh

The Bangladeshi festive articles market amounted to $X in 2022, remaining relatively unchanged against the previous year. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 -0.5% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Festive Articles Production in Bangladesh

In value terms, festive articles production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +5.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 28%. Festive articles production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Festive Articles Exports

Exports from Bangladesh

In 2022, overseas shipments of festive or carnival articles were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 202%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, festive articles exports reached $X in 2022. Over the period under review, exports recorded a buoyant increase. The growth pace was the most rapid in 2016 with an increase of 181% against the previous year. The exports peaked at $X in 2020; afterwards, it flattened through to 2022.

Exports by Country

The United States (X tons) was the main destination for festive articles exports from Bangladesh, accounting for a 29% share of total exports. Moreover, festive articles exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. Spain (X tons) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+22.3% per year) and Spain (+47.2% per year).

In value terms, the United States ($X) remains the key foreign market for festive or carnival articles exports from Bangladesh, comprising 36% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an 8.6% share of total exports. It was followed by Spain, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+13.1% per year) and Spain (+40.3% per year).

Export Prices by Country

The average festive articles export price stood at $X per ton in 2022, falling by -10.7% against the previous year. Over the period under review, the export price saw a pronounced curtailment. The pace of growth appeared the most rapid in 2015 an increase of 36%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Switzerland ($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 Germany (+3.6%), while the prices for the other major destinations experienced a decline.

Festive Articles Imports

Imports into Bangladesh

In 2022, the amount of festive or carnival articles imported into Bangladesh declined to X tons, falling by -11.6% compared with the year before. Over the period under review, imports, however, saw significant growth. The growth pace was the most rapid in 2013 when imports increased by 691%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, festive articles imports fell markedly to $X in 2022. In general, imports, however, posted significant growth. The pace of growth was the most pronounced in 2016 with an increase of 269% against the previous year. Imports peaked at $X in 2021, and then shrank significantly in the following year.

Imports by Country

In 2022, China (X tons) was the main supplier of festive articles to Bangladesh, with a 99% share of total imports. It was followed by India (X tons), with a 1.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +42.1%.

In value terms, China ($X) constituted the largest supplier of festive or carnival articles to Bangladesh, comprising 100% of total imports. The second position in the ranking was held by India ($X), with a 0.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +55.0%.

Import Prices by Country

In 2022, the average festive articles import price amounted to $X per ton, which is down by -7% against the previous year. Overall, the import price, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2015 when the average import price increased by 133% against the previous year. The import price peaked at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for India amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.1%).

Source: IndexBox Platform

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