Bangladesh: Sails Market 2024

Sails Market Size in Bangladesh

The Bangladeshi sails market was estimated at $X in 2022, surging by 2.6% against the previous year. Over the period under review, the total consumption indicated temperate growth from 2012 to 2022: its value 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, consumption decreased by -2.5% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Sails Production in Bangladesh

In value terms, sails production rose modestly to $X in 2022 estimated in export price. In general, the total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.9% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 120%. Sails production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Sails Exports

Exports from Bangladesh

After three years of growth, overseas shipments of sails decreased by -17.6% to X kg in 2022. Over the period under review, exports showed a pronounced decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 118%. The exports peaked at X kg in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, sails exports reduced to $X in 2022. In general, exports continue to indicate a mild decline. The growth pace was the most rapid in 2015 with an increase of 203% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped in the following year.

Exports by Country

Ireland (X kg) was the main destination for sails exports from Bangladesh, accounting for a 88% share of total exports. Moreover, sails exports to Ireland exceeded the volume sent to the second major destination, South Africa (X kg), more than tenfold. The third position in this ranking was held by Norway (X kg), with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ireland stood at +23.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+216.2% per year) and Norway (+31.6% per year).

In value terms, Ireland ($X) remains the key foreign market for sails exports from Bangladesh, comprising 91% of total exports. The second position in the ranking was taken by Norway ($X), with a 4.1% share of total exports. It was followed by South Africa, with a 2.4% share.

From 2012 to 2022, the average annual growth rate of value to Ireland totaled +27.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+50.0% per year) and South Africa (+585.6% per year).

Export Prices by Country

In 2022, the average sails export price amounted to $X per ton, with an increase of 4.2% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 101% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

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 Norway ($X per ton), while the average price for exports to South Africa ($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 South Africa (+116.8%), while the prices for the other major destinations experienced more modest paces of growth.

Sails Imports

Imports into Bangladesh

For the ninth year in a row, Bangladesh recorded growth in purchases abroad of sails, which increased by 19% to X kg in 2022. In general, imports, however, continue to indicate a slight setback. The pace of growth was the most pronounced in 2014 with an increase of 658%. Over the period under review, imports hit record highs at X kg in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, sails imports reduced to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 564% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

The United States (X kg) and China (X kg) were the main suppliers of sails imports to Bangladesh.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of -1.5%).

In value terms, the United States ($X) constituted the largest supplier of sails to Bangladesh, comprising 73% of total imports. The second position in the ranking was taken by China ($X), with a 27% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +1.2%.

Import Prices by Country

The average sails import price stood at $X per ton in 2022, with a decrease of -22% against the previous year. Overall, the import price, however, continues to indicate a slight increase. The growth pace was the most rapid in 2019 an increase of 14%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then shrank remarkably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.8%).

Source: IndexBox Platform

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