Bangladesh: Market for Industrial Automatic Sewing Machines 2024

Market Size for Industrial Automatic Sewing Machines in Bangladesh

The Bangladeshi industrial automatic sewing machine market declined dramatically to $X in 2022, which is down by -24.3% 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). In general, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +47.4% against 2020 indices. As a result, consumption attained the peak level of $X, and then contracted sharply in the following year.

Exports of Industrial Automatic Sewing Machines

Exports from Bangladesh

In 2022, after two years of growth, there was significant decline in overseas shipments of industrial automatic sewing machines, when their volume decreased by -22.4% to X units. Overall, exports showed a perceptible decline. The pace of growth was the most pronounced in 2014 when exports increased by 692% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, industrial automatic sewing machine exports declined slightly to $X in 2022. Over the period under review, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of 551%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for industrial automatic sewing machine exports from Bangladesh, with a 96% share of total exports. It was followed by Turkey (X units), with a 2.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-17.1% per year) and Singapore (-29.9% per year).

In value terms, Turkey ($X), China ($X) and Singapore ($X) appeared to be the largest markets for industrial automatic sewing machine exported from Bangladesh worldwide, with a combined 99.9% share of total exports.

Turkey, with a CAGR of +15.7%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average industrial automatic sewing machine export price amounted to $X per unit, with an increase of 25% against the previous year. Overall, the export price, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2018 an increase of 68%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average 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 Turkey ($X per unit), while the average price for exports to China ($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 Turkey (+39.5%), while the prices for the other major destinations experienced a decline.

Imports of Industrial Automatic Sewing Machines

Imports into Bangladesh

In 2022, the amount of industrial automatic sewing machines imported into Bangladesh shrank dramatically to X units, which is down by -20.4% on the previous year's figure. Over the period under review, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 73% against the previous year. Over the period under review, imports reached the peak figure at X units in 2021, and then contracted significantly in the following year.

In value terms, industrial automatic sewing machine imports declined sharply to $X in 2022. In general, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 123% against the previous year. As a result, imports attained the peak of $X, and then fell remarkably in the following year.

Imports by Country

In 2022, China (X units) was the main industrial automatic sewing machine supplier to Bangladesh, accounting for a 96% share of total imports. It was followed by India (X units), with a 1.6% share of total imports. Singapore (X units) ranked third in terms of total imports with a 0.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+21.2% per year) and Singapore (-28.7% per year).

In value terms, China ($X) constituted the largest supplier of industrial automatic sewing machines to Bangladesh, comprising 75% of total imports. The second position in the ranking was held by Singapore ($X), with a 1.9% share of total imports. It was followed by Hong Kong SAR, with a 0.4% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-26.2% per year) and Hong Kong SAR (-20.3% per year).

Import Prices by Country

In 2022, the average industrial automatic sewing machine import price amounted to $X per unit, dropping by -8.9% against the previous year. Overall, the import price continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 32% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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