Bangladesh: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Bangladesh

The Bangladeshi machine-tool for drilling market shrank to $X in 2022, dropping by -2.8% against the previous year. Over the period under review, consumption, however, recorded a resilient increase. Machine-tool for drilling consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Machine-Tool For Drilling Production in Bangladesh

In value terms, machine-tool for drilling production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, showed a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of 66%. Machine-tool for drilling production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Machine-Tool For Drilling Exports

Exports from Bangladesh

In 2022, shipments abroad of machine-tools for drilling, boring or milling metal was finally on the rise to reach X units after six years of decline. Over the period under review, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2013 when exports increased by 1,020%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, machine-tool for drilling exports reached $X in 2022. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 847%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X units) was the main destination for machine-tool for drilling exports from Bangladesh, with a 93% share of total exports. Moreover, machine-tool for drilling exports to Singapore exceeded the volume sent to the second major destination, India (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore stood at -14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+7.2% per year) and Thailand (-23.2% per year).

In value terms, Singapore ($X) remains the key foreign market for machine-tools for drilling, boring or milling metal exports from Bangladesh, comprising 97% of total exports. The second position in the ranking was held by India ($X), with a 1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Singapore amounted to +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+21.8% per year) and Thailand (-7.8% per year).

Export Prices by Country

The average machine-tool for drilling export price stood at $X per unit in 2022, shrinking by -17.7% against the previous year. Over the period under review, the export price, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by 143%. The export price peaked at $X per unit in 2021, and then fell dramatically in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Thailand ($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 Thailand (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Machine-Tool For Drilling Imports

Imports into Bangladesh

In 2022, imports of machine-tools for drilling, boring or milling metal into Bangladesh fell significantly to X units, which is down by -22% on the previous year's figure. Overall, imports saw a abrupt downturn. The pace of growth was the most pronounced in 2015 with an increase of 278%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, machine-tool for drilling imports rose notably to $X in 2022. In general, imports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2015 when imports increased by 128% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of machine-tool for drilling to Bangladesh, with a 68% share of total imports. Moreover, machine-tool for drilling imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. France (X units) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-5.2% per year) and France (-15.4% per year).

In value terms, China ($X), Singapore ($X) and Malaysia ($X) were the largest machine-tool for drilling suppliers to Bangladesh, together accounting for 58% of total imports. Taiwan (Chinese), India, Pakistan, Japan, France and the United Arab Emirates lagged somewhat behind, together accounting for a further 20%.

Pakistan, with a CAGR of +19.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average machine-tool for drilling import price stood at $X per unit in 2022, growing by 37% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 77%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 Singapore ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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