Bangladesh: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Bangladesh

The Bangladeshi refrigerator or freezer market declined notably to $X in 2022, reducing by -22.7% 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). Over the period under review, consumption faced a drastic downturn. Refrigerator or freezer consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Refrigerator Or Freezer Exports

Exports from Bangladesh

In 2019, approx. X units of furniture designed to receive refrigerating or freezing equipment were exported from Bangladesh; almost unchanged from 2018 figures. Overall, exports recorded a sharp downturn. The smallest decline of 99.9% was in 2018. The exports peaked at X units in 2017; however, from 2018 to 2019, the exports stood at a somewhat lower figure.

In value terms, refrigerator or freezer exports stood at $X in 2019. Over the period under review, exports showed a precipitous slump. The smallest decline of 99.9% was in 2018. The exports peaked at $X in 2017; however, from 2018 to 2019, the exports remained at a lower figure.

Exports by Country

India (X units) and Sri Lanka (X units) were the main destinations of refrigerator or freezer exports from Bangladesh.

From 2017 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of 0.0%).

From 2017 to 2019, the average annual growth rate of value to India was relatively modest.

Export Prices by Country

In 2019, the average refrigerator or freezer export price amounted to $X per unit, leveling off at the previous year. Over the period under review, the export price recorded significant growth. The most prominent rate of growth was recorded in 2018 a decrease of 99.9%. The export price peaked in 2019 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2019, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Sri Lanka stood at $X per unit.

From 2017 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerator Or Freezer Imports

Imports into Bangladesh

Refrigerator or freezer imports into Bangladesh declined notably to X units in 2022, with a decrease of -28.5% on the year before. In general, imports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of 228%. Over the period under review, imports attained the peak figure at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, refrigerator or freezer imports reduced remarkably to $X in 2022. Overall, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 227%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X units) constituted the largest refrigerator or freezer supplier to Bangladesh, accounting for a 71% share of total imports. Moreover, refrigerator or freezer imports from Thailand exceeded the figures recorded by the second-largest supplier, Malaysia (X units), fivefold. The third position in this ranking was held by China (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand amounted to +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+24.2% per year) and China (-28.3% per year).

In value terms, Thailand ($X) constituted the largest supplier of furniture designed to receive refrigerating or freezing equipment to Bangladesh, comprising 78% of total imports. The second position in the ranking was taken by China ($X), with a 5.9% share of total imports. It was followed by Taiwan (Chinese), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand totaled +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-28.6% per year) and Taiwan (Chinese) (+5.8% per year).

Import Prices by Country

In 2022, the average refrigerator or freezer import price amounted to $X per unit, rising by 14% against the previous year. Over the period under review, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refrigerator or freezer import price decreased by -22.2% against 2020 indices. The most prominent rate of growth was recorded in 2019 an increase of 69%. Over the period under review, average import prices attained the peak figure at $X per unit in 2017; however, from 2018 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 Taiwan (Chinese) ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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