Bangladesh: Mannequin Market 2024

Mannequin Market Size in Bangladesh

The Bangladeshi mannequin market declined to $X in 2022, shrinking by -7.4% against the previous year. Overall, consumption saw a abrupt setback. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Mannequin Production in Bangladesh

In value terms, mannequin production contracted to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable setback. The pace of growth was the most pronounced in 2013 when the production volume increased by 41% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Mannequin Exports

Exports from Bangladesh

After six years of growth, shipments abroad of mannequins decreased by -4.1% to X tons in 2022. In general, exports, however, saw a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by 2,017%. Over the period under review, the exports attained the maximum at X tons in 2021, and then shrank slightly in the following year.

In value terms, mannequin exports contracted to $X in 2022. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 1,250%. The exports peaked at $X in 2021, and then declined in the following year.

Exports by Country

The United States (X tons) was the main destination for mannequin exports from Bangladesh, accounting for a 52% share of total exports. Moreover, mannequin exports to the United States exceeded the volume sent to the second major destination, France (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +54.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+192.6% per year) and China (+100.8% per year).

In value terms, the United States ($X) emerged as the key foreign market for mannequins exports from Bangladesh, comprising 48% of total exports. The second position in the ranking was taken by France ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +40.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+205.9% per year) and China (+95.6% per year).

Export Prices by Country

The average mannequin export price stood at $X per ton in 2022, shrinking by -4.4% against the previous year. Overall, the export price showed a mild decrease. The most prominent rate of growth was recorded in 2018 an increase of 38%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+9.2%), while the prices for the other major destinations experienced mixed trend patterns.

Mannequin Imports

Imports into Bangladesh

Mannequin imports into Bangladesh rose markedly to X tons in 2022, surging by 9.6% against the year before. In general, imports enjoyed a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of 137% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, mannequin imports shrank notably to $X in 2022. Over the period under review, imports showed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 60%. As a result, imports attained the peak of $X, and then contracted sharply in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of mannequin to Bangladesh, accounting for a 86% share of total imports. Moreover, mannequin imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +24.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+21.8% per year) and Japan (+137.6% per year).

In value terms, China ($X) constituted the largest supplier of mannequins to Bangladesh, comprising 55% of total imports. The second position in the ranking was taken by Japan ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +40.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+137.2% per year) and the UK (+26.5% per year).

Import Prices by Country

The average mannequin import price stood at $X per ton in 2022, which is down by -26% against the previous year. Overall, the import price, however, continues to indicate a pronounced expansion. The pace of growth was the most pronounced in 2021 when the average import price increased by 96%. As a result, import price reached the peak level of $X per ton, and then contracted sharply in the following year.

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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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