Bangladesh: Measuring Instrument Market 2022

Measuring Instrument Market Size in Bangladesh

In 2021, the Bangladeshi measuring instrument market increased by 5.5% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption recorded strong growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Measuring Instrument Exports

Exports from Bangladesh

In 2021, measuring instrument exports from Bangladesh soared to X units, jumping by 37% on the previous year's figure. In general, exports, however, saw a sharp shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by 467%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, measuring instrument exports reduced to $X in 2021. Over the period under review, exports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2018 with an increase of 1,554% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X units) was the main destination for measuring instrument exports from Bangladesh, with a 89% share of total exports. Moreover, measuring instrument exports to the Netherlands exceeded the volume sent to the second major destination, Singapore (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands totaled +106.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-2.9% per year) and Germany (-50.1% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for measuring instrument exports from Bangladesh, comprising 83% of total exports. The second position in the ranking was held by Singapore ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the Netherlands totaled +438.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+10.4% per year) and Germany (-42.3% per year).

Export Prices by Country

In 2021, the average measuring instrument export price amounted to $X per unit, which is down by -37.6% against the previous year. In general, the export price, however, saw a significant expansion. The pace of growth was the most pronounced in 2018 an increase of 272%. Over the period under review, the average export prices hit record highs at $X per unit in 2020, and then dropped rapidly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Singapore ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+168.3%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into Bangladesh

In 2021, after three years of decline, there was significant growth in overseas purchases of instruments and apparatus for measuring or checking the flow or level of liquids, when their volume increased by 10% to X units. Over the period under review, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 636% against the previous year. Over the period under review, imports attained the maximum at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, measuring instrument imports totaled $X in 2021. In general, imports posted a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of 185%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of measuring instrument to Bangladesh, accounting for a 65% share of total imports. Moreover, measuring instrument imports from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. Japan (X units) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+16.0% per year) and Japan (+12.7% per year).

In value terms, China ($X) constituted the largest supplier of measuring instrument to Bangladesh, comprising 45% of total imports. The second position in the ranking was taken by India ($X), with an 8% share of total imports. It was followed by Japan, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +32.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+6.6% per year) and Japan (+27.0% per year).

Import Prices by Country

In 2021, the average measuring instrument import price amounted to $X per unit, which is down by -8% against the previous year. Over the period under review, the import price, however, saw slight growth. The growth pace was the most rapid in 2014 when the average import price increased by 79%. The import price peaked at $X per unit in 2020, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+21.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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