Bangladesh: Handbag Market 2024

Handbag Market Size in Bangladesh

In 2022, the Bangladeshi handbag market decreased by less than 0.1% to $X, falling for the third consecutive year after three years of growth. In general, consumption showed a mild shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Handbag Production in Bangladesh

In value terms, handbag production dropped modestly to $X in 2022 estimated in export price. In general, production recorded a mild slump. The growth pace was the most rapid in 2018 when the production volume increased by 48% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Handbag Exports

Exports from Bangladesh

In 2022, approx. X units of handbags were exported from Bangladesh; waning by -17.6% compared with the year before. Overall, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 80%. As a result, the exports attained the peak of X units, and then declined rapidly in the following year.

In value terms, handbag exports declined rapidly to $X in 2022. In general, exports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2016 when exports increased by 94% against the previous year. The exports peaked at $X in 2021, and then shrank markedly in the following year.

Exports by Country

The United States (X units) was the main destination for handbag exports from Bangladesh, accounting for a 24% share of total exports. Moreover, handbag exports to the United States exceeded the volume sent to the second major destination, Canada (X units), threefold. Poland (X units) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+114.0% per year) and Poland (+59.3% per year).

In value terms, the largest markets for handbag exported from Bangladesh were China ($X), the United States ($X) and the Netherlands ($X), together comprising 49% of total exports. Australia, Germany, the UK, Poland, Canada, Japan, Hong Kong SAR, France, India and Russia lagged somewhat behind, together accounting for a further 27%.

Canada, with a CAGR of +80.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average handbag export price stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 41% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to India ($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 (+30.5%), while the prices for the other major destinations experienced more modest paces of growth.

Handbag Imports

Imports into Bangladesh

In 2022, approx. X units of handbags were imported into Bangladesh; which is down by -37.1% against 2021. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 99% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, handbag imports shrank rapidly to $X in 2022. Over the period under review, imports, however, showed significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 149%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main handbag supplier to Bangladesh, with a 93% share of total imports. Moreover, handbag imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +2.1%.

In value terms, China ($X) constituted the largest supplier of handbags to Bangladesh, comprising 97% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 0.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +26.7%.

Import Prices by Country

The average handbag import price stood at $X per unit in 2022, jumping by 25% against the previous year. Overall, the import price continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 an increase of 58%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in the immediate term.

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 China ($X per unit), while the price for Hong Kong SAR stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+24.0%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :