Bangladesh: Golf Equipment Market 2024

Golf Equipment Market Size in Bangladesh

In 2022, the Bangladeshi golf equipment market decreased by -1% to $X, falling for the fifth year in a row after four years of growth. In general, consumption continues to indicate a relatively flat trend pattern. Golf equipment consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Golf Equipment Production in Bangladesh

In value terms, golf equipment production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 38%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Golf Equipment Exports

Exports from Bangladesh

Golf equipment exports from Bangladesh shrank to X units in 2022, falling by -12.1% against the year before. In general, total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +94.0% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 77% against the previous year. Over the period under review, the exports reached the maximum at X units in 2021, and then dropped in the following year.

In value terms, golf equipment exports fell to $X in 2022. Over the period under review, exports, however, recorded notable growth. The pace of growth appeared the most rapid in 2017 when exports increased by 50%. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

The United States (X units) was the main destination for golf equipment exports from Bangladesh, with a 53% share of total exports. Moreover, golf equipment exports to the United States exceeded the volume sent to the second major destination, China (X units), fivefold. Japan (X units) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+2.6% per year) and Japan (+11.7% per year).

In value terms, the United States ($X) remains the key foreign market for golf clubs and other golf equipment exports from Bangladesh, comprising 43% of total exports. The second position in the ranking was held by China ($X), with a 16% share of total exports. It was followed by Japan, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+7.0% per year) and Japan (+3.3% per year).

Export Prices by Country

The average golf equipment export price stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Golf Equipment Imports

Imports into Bangladesh

In 2022, the amount of golf clubs and other golf equipment imported into Bangladesh fell dramatically to X units, with a decrease of -22.5% on 2021 figures. In general, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 99%. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, golf equipment imports dropped to $X in 2022. Overall, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 123% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), India (X units) and Hong Kong SAR (X units) were the main suppliers of golf equipment imports to Bangladesh, with a combined 94% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +24.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of golf clubs and other golf equipment to Bangladesh, comprising 83% of total imports. The second position in the ranking was taken by India ($X), with an 8.5% share of total imports. It was followed by Hong Kong SAR, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +30.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-14.8% per year) and Hong Kong SAR (+6.3% per year).

Import Prices by Country

The average golf equipment import price stood at $X per unit in 2022, growing by 21% against the previous year. Over the period under review, the import price enjoyed a noticeable increase. The pace of growth appeared the most rapid in 2020 when the average import price increased by 103% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+31.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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