Bangladesh: Knotted Carpet Market 2025

Knotted Carpet Market Size in Bangladesh

In 2022, the Bangladeshi knotted carpet market increased by 60% to $X, rising for the second consecutive year after three years of decline. In general, consumption, however, enjoyed a noticeable expansion. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Knotted Carpet Production in Bangladesh

In value terms, knotted carpet production totaled $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the near future.

Knotted Carpet Exports

Exports from Bangladesh

Knotted carpet exports from Bangladesh skyrocketed to X square meters in 2022, jumping by 42% on 2021. Over the period under review, exports, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2020 with an increase of 93%. Over the period under review, the exports attained the maximum at X square meters in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, knotted carpet exports soared to $X in 2022. Overall, exports, however, faced a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 81%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X square meters), Singapore (X square meters) and Belgium (X square meters) were the main destinations of knotted carpet exports from Bangladesh, together accounting for 29% of total exports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +97.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United States ($X) and the UK ($X) constituted the largest markets for knotted carpet exported from Bangladesh worldwide, together comprising 86% of total exports. Singapore, Australia, Hong Kong SAR, Germany, Belgium, Malaysia and Thailand lagged somewhat behind, together comprising a further 7.7%.

In terms of the main countries of destination, Singapore, with a CAGR of +104.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average knotted carpet export price stood at $X per square meter in 2022, shrinking by -18.8% against the previous year. In general, the export price recorded a deep setback. The growth pace was the most rapid in 2016 when the average export price increased by 41% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per square meter in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per square meter), while the average price for exports to Malaysia ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+184.9%), while the prices for the other major destinations experienced more modest paces of growth.

Knotted Carpet Imports

Imports into Bangladesh

In 2022, knotted carpet imports into Bangladesh contracted rapidly to X square meters, dropping by -58.4% compared with the previous year. Over the period under review, imports saw a abrupt curtailment. The growth pace was the most rapid in 2013 with an increase of 643%. As a result, imports attained the peak of X square meters. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, knotted carpet imports declined slightly to $X in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 500%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, India (X square meters) constituted the largest knotted carpet supplier to Bangladesh, with a 89% share of total imports. Moreover, knotted carpet imports from India exceeded the figures recorded by the second-largest supplier, China (X square meters), more than tenfold. The UK (X square meters) ranked third in terms of total imports with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.5% per year) and the UK (+62.6% per year).

In value terms, India ($X), the UK ($X) and Turkey ($X) were the largest knotted carpet suppliers to Bangladesh, together accounting for 62% of total imports.

In terms of the main suppliers, the UK, with a CAGR of +27.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average knotted carpet import price stood at $X per square meter in 2022, increasing by 133% against the previous year. Over the period under review, the import price showed a strong increase. As a result, import price reached the peak level and is likely to continue 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 the UK ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+31.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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