Bangladesh: Non-Knitted Men Apparel Market 2024

Non-Knitted Men Apparel Market Size in Bangladesh

In 2022, the Bangladeshi non-knitted men apparel market decreased by -85.2% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption faced a abrupt slump. As a result, consumption reached the peak level of $X, and then shrank dramatically in the following year.

Non-Knitted Men Apparel Production in Bangladesh

In value terms, non-knitted men apparel production dropped to $X in 2022 estimated in export price. Over the period under review, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +18.2% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 44% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Non-Knitted Men Apparel Exports

Exports from Bangladesh

In 2022, non-knitted men apparel exports from Bangladesh skyrocketed to X units, picking up by 23% compared with 2021 figures. Overall, total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.1% against 2020 indices. The pace of growth was the most pronounced in 2015 when exports increased by 61% against the previous year. Over the period under review, the exports reached the maximum at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-knitted men apparel exports soared to $X in 2022. In general, exports posted strong growth. The growth pace was the most rapid in 2019 with an increase of 45%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for non-knitted men apparel exports from Bangladesh, accounting for a 27% share of total exports. Moreover, non-knitted men apparel exports to the United States exceeded the volume sent to the second major destination, Germany (X units), threefold. Spain (X units) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-3.8% per year) and Spain (+3.1% per year).

In value terms, the largest markets for non-knitted men apparel exported from Bangladesh were the United States ($X), Germany ($X) and Spain ($X), together accounting for 38% of total exports. The UK, Poland, Canada, the Netherlands, France, Japan, Italy, Denmark, India and Australia lagged somewhat behind, together comprising a further 24%.

Among the main countries of destination, India, with a CAGR of +23.0%, recorded the highest growth rate of 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

In 2022, the average non-knitted men apparel export price amounted to $X per unit, growing by 11% against the previous year. Over the period under review, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-knitted men apparel export price increased by +13.7% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the average export price increased by 57%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to India ($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 Germany (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Knitted Men Apparel Imports

Imports into Bangladesh

In 2022, supplies from abroad of men's or boys' clothing (not knitted or crocheted) increased by 99% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports posted a tangible increase. The most prominent rate of growth was recorded in 2014 with an increase of 143% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, non-knitted men apparel imports skyrocketed to $X in 2022. In general, imports enjoyed a measured increase. The pace of growth appeared the most rapid in 2014 when imports increased by 141%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest non-knitted men apparel supplier to Bangladesh, accounting for a 56% share of total imports. Moreover, non-knitted men apparel imports from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +23.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-5.8% per year) and the UK (+160.2% per year).

In value terms, China ($X), the UK ($X) and India ($X) appeared to be the largest non-knitted men apparel suppliers to Bangladesh, with a combined 96% share of total imports.

The UK, with a CAGR of +116.1%, 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 mixed trend patterns.

Import Prices by Country

In 2022, the average non-knitted men apparel import price amounted to $X per unit, remaining relatively unchanged against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 100%. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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