Bangladesh: Market for Industrial Sewing Machines (Non-Automatic) 2024

Market Size for Industrial Sewing Machines (Non-Automatic) in Bangladesh

The Bangladeshi industrial sewing machines (non-automatic) market shrank markedly to $X in 2022, which is down by -33.8% 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). Overall, consumption, however, saw a pronounced increase. As a result, consumption attained the peak level of $X, and then contracted remarkably in the following year.

Exports of Industrial Sewing Machines (Non-Automatic)

Exports from Bangladesh

Industrial sewing machines (non-automatic) exports from Bangladesh fell significantly to X units in 2022, dropping by -42.3% on the previous year. In general, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 1,375%. The exports peaked at X units in 2021, and then reduced notably in the following year.

In value terms, industrial sewing machines (non-automatic) exports fell rapidly to $X in 2022. Over the period under review, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2016 when exports increased by 1,076%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X units) was the main destination for industrial sewing machines (non-automatic) exports from Bangladesh, with a approx. 5.6% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR totaled -2.0%.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR stood at +5.4%.

Export Prices by Country

The average industrial sewing machines (non-automatic) export price stood at $X per unit in 2022, waning by -2.8% against the previous year. Overall, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial sewing machines (non-automatic) export price increased by +24.2% against 2019 indices. The pace of growth was the most pronounced in 2017 an increase of 34%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.

From 2012 to 2022, the rate of growth in terms of prices for Hong Kong SAR amounted to +7.5% per year.

Imports of Industrial Sewing Machines (Non-Automatic)

Imports into Bangladesh

In 2022, imports of industrial sewing machines (non-automatic) into Bangladesh fell markedly to X units, with a decrease of -31.9% compared with the previous year's figure. In general, imports, however, saw a notable increase. The most prominent rate of growth was recorded in 2021 with an increase of 206% against the previous year. As a result, imports attained the peak of X units, and then fell sharply in the following year.

In value terms, industrial sewing machines (non-automatic) imports reduced notably to $X in 2022. Overall, imports, however, saw a tangible increase. The most prominent rate of growth was recorded in 2021 when imports increased by 233% against the previous year. As a result, imports attained the peak of $X, and then shrank notably in the following year.

Imports by Country

In 2022, Singapore (X units) constituted the largest industrial sewing machines (non-automatic) supplier to Bangladesh, with a 33% share of total imports. Moreover, industrial sewing machines (non-automatic) imports from Singapore exceeded the figures recorded by the second-largest supplier, China (X units), fourfold. The third position in this ranking was held by Hong Kong SAR (X units), with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume from Singapore amounted to -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.3% per year) and Hong Kong SAR (+2.8% per year).

In value terms, Singapore ($X) constituted the largest supplier of industrial sewing machines (non-automatic) to Bangladesh, comprising 41% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 7.1% share of total imports. It was followed by China, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore totaled -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+4.1% per year) and China (-4.3% per year).

Import Prices by Country

In 2022, the average industrial sewing machines (non-automatic) import price amounted to $X per unit, shrinking by -4.5% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 18%. The import price peaked at $X per unit in 2015; however, from 2016 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 Japan ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+70.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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