Bangladesh: Non-Combined Refrigerator-Freezer Market 2024

Non-Combined Refrigerator-Freezer Market Size in Bangladesh

In 2022, the Bangladeshi non-combined refrigerator-freezer market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, saw a deep slump. Non-combined refrigerator-freezer consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Non-Combined Refrigerator-Freezer Exports

Exports from Bangladesh

In 2022, after two years of growth, there was significant decline in shipments abroad of household refrigerators and freezers (not combined), when their volume decreased by -49.6% to X units. Overall, exports, however, saw significant growth. The growth pace was the most rapid in 2021 with an increase of 11,864% against the previous year. As a result, the exports reached the peak of X units, and then contracted markedly in the following year.

In value terms, non-combined refrigerator-freezer exports declined significantly to $X in 2022. Over the period under review, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 8,052%. As a result, the exports reached the peak of $X, and then shrank markedly in the following year.

Exports by Country

India (X units) was the main destination for non-combined refrigerator-freezer exports from Bangladesh, with a 99% share of total exports. It was followed by Nepal (X units), with a 0.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to India stood at +201.3%.

In value terms, India ($X) remains the key foreign market for household refrigerators and freezers (not combined) exports from Bangladesh, comprising 99% of total exports. The second position in the ranking was held by Nepal ($X), with a 0.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to +268.1%.

Export Prices by Country

In 2022, the average non-combined refrigerator-freezer export price amounted to $X per unit, leveling off at the previous year. Over the period under review, the export price, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2020 an increase of 52% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Nepal stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+22.2%).

Non-Combined Refrigerator-Freezer Imports

Imports into Bangladesh

In 2022, approx. X units of household refrigerators and freezers (not combined) were imported into Bangladesh; waning by -19% on the previous year's figure. In general, imports saw a mild reduction. The most prominent rate of growth was recorded in 2014 with an increase of 108% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, non-combined refrigerator-freezer imports contracted rapidly to $X in 2022. Over the period under review, imports saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 99%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-combined refrigerator-freezer to Bangladesh, accounting for a 74% share of total imports. Moreover, non-combined refrigerator-freezer imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), eightfold. Turkey (X units) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+21.9% per year) and Turkey (+14.0% per year).

In value terms, China ($X) constituted the largest supplier of household refrigerators and freezers (not combined) to Bangladesh, comprising 55% of total imports. The second position in the ranking was held by Turkey ($X), with an 11% share of total imports. It was followed by Hong Kong SAR, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+18.1% per year) and Hong Kong SAR (+21.5% per year).

Import Prices by Country

In 2022, the average non-combined refrigerator-freezer import price amounted to $X per unit, shrinking by -7.2% against the previous year. Over the period under review, the import price continues to indicate a mild decrease. The pace of growth was the most pronounced in 2016 when the average import price increased by 28%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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