Bangladesh: Multimeter Market 2024

Multimeter Market Size in Bangladesh

The Bangladeshi multimeter market fell sharply to $X in 2022, with a decrease of -22% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed a strong expansion. Over the period under review, the market reached the maximum level at $X in 2021, and then fell notably in the following year.

Multimeter Exports

Exports from Bangladesh

Multimeter exports from Bangladesh surged to X units in 2022, picking up by 333% on the previous year. In general, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2015 when exports increased by 1,050%. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, multimeter exports soared to $X in 2022. Overall, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 1,535%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for multimeter exports from Bangladesh, accounting for a 81% share of total exports. Moreover, multimeter exports to Germany exceeded the volume sent to the second major destination, India (X units), more than tenfold. Austria (X units) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at -10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (0.0% per year) and Austria (0.0% per year).

In value terms, Germany ($X) remains the key foreign market for multimeters exports from Bangladesh, comprising 80% of total exports. The second position in the ranking was taken by India ($X), with a 4.8% share of total exports. It was followed by Finland, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +41.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+1.3% per year) and Finland (+3.9% per year).

Export Prices by Country

The average multimeter export price stood at $X per unit in 2022, with an increase of 85% against the previous year. In general, the export price recorded buoyant growth. The pace of growth appeared the most rapid in 2014 an increase of 328%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per unit), while the average price for exports to Austria ($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 Austria (+22.4%), while the prices for the other major destinations experienced more modest paces of growth.

Multimeter Imports

Imports into Bangladesh

In 2022, multimeter imports into Bangladesh fell rapidly to X units, which is down by -16.9% compared with the year before. In general, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 176% against the previous year. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, multimeter imports declined notably to $X in 2022. Over the period under review, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 198%. Imports peaked at $X in 2021, and then reduced rapidly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of multimeter to Bangladesh, with a 68% share of total imports. Moreover, multimeter imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), fivefold. The third position in this ranking was taken by India (X units), with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+32.9% per year) and India (+43.2% per year).

In value terms, the largest multimeter suppliers to Bangladesh were Singapore ($X), China ($X) and India ($X), together comprising 72% of total imports. Austria and Italy lagged somewhat behind, together accounting for a further 12%.

Austria, with a CAGR of +107.4%, recorded 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

In 2022, the average multimeter import price amounted to $X per unit, reducing by -9.9% against the previous year. In general, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, multimeter import price increased by +15.9% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 78%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a 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 India ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+64.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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