Bangladesh: Sewing Thread Market 2024

Sewing Thread Market Size in Bangladesh

The Bangladeshi sewing thread market dropped notably to $X in 2022, which is down by -15.1% against the previous year. Overall, consumption continues to indicate a perceptible downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sewing Thread Production in Bangladesh

In value terms, sewing thread production reduced to $X in 2022 estimated in export price. In general, production recorded a pronounced contraction. The pace of growth appeared the most rapid in 2016 when the production volume increased by 20%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Sewing Thread Exports

Exports from Bangladesh

In 2022, after seven years of growth, there was significant decline in overseas shipments of sewing thread of man-made filaments or staple fibers, when their volume decreased by -7.4% to X tons. In general, exports, however, showed buoyant growth. The growth pace was the most rapid in 2013 when exports increased by 65% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then shrank in the following year.

In value terms, sewing thread exports shrank to $X in 2022. Over the period under review, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 21% against the previous year. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Myanmar (X tons) was the main destination for sewing thread exports from Bangladesh, accounting for a 98% share of total exports. It was followed by Japan (X tons), with a 2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Myanmar amounted to +13.3%.

In value terms, Myanmar ($X) remains the key foreign market for sewing thread of man-made filaments or staple fibers exports from Bangladesh, comprising 96% of total exports. The second position in the ranking was taken by Japan ($X), with a 3.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Myanmar amounted to +11.7%.

Export Prices by Country

In 2022, the average sewing thread export price amounted to $X per ton, increasing by 2.5% against the previous year. In general, the export price, however, continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2014 an increase of 7.9% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Myanmar amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+2.9%), while the prices for the other major destinations experienced a decline.

Sewing Thread Imports

Imports into Bangladesh

In 2022, imports of sewing thread of man-made filaments or staple fibers into Bangladesh shrank to X tons, dropping by -13.9% on the previous year's figure. Over the period under review, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 202% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, sewing thread imports shrank sharply to $X in 2022. Overall, imports, however, posted a prominent increase. The growth pace was the most rapid in 2014 when imports increased by 142% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced rapidly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of sewing thread to Bangladesh, accounting for a 79% share of total imports. Moreover, sewing thread imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. India (X tons) ranked third in terms of total imports with a 2% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+16.5% per year) and India (+6.7% per year).

In value terms, China ($X) constituted the largest supplier of sewing thread of man-made filaments or staple fibers to Bangladesh, comprising 67% of total imports. The second position in the ranking was taken by South Korea ($X), with a 7.6% share of total imports. It was followed by Hong Kong SAR, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+13.3% per year) and Hong Kong SAR (-0.9% per year).

Import Prices by Country

The average sewing thread import price stood at $X per ton in 2022, dropping by -5.9% against the previous year. In general, the import price saw a slight decrease. The pace of growth appeared the most rapid in 2021 an increase of 16%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+2.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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