Bangladesh: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in Bangladesh

In 2022, after two years of growth, there was significant decline in the Bangladeshi spectacle glass lenses market, when its value decreased by -10.9% to $X. In general, consumption showed a noticeable decline. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Spectacle Glass Lenses Exports

Exports from Bangladesh

In 2022, after two years of growth, there was significant decline in shipments abroad of spectacle lenses of glass or other materials, when their volume decreased by -47.4% to X units. In general, exports, however, posted strong growth. The pace of growth appeared the most rapid in 2018 when exports increased by 2,185%. The exports peaked at X units in 2021, and then shrank markedly in the following year.

In value terms, spectacle glass lenses exports contracted sharply to $X in 2022. Over the period under review, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 907%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Denmark (X units) was the main destination for spectacle glass lenses exports from Bangladesh, accounting for a 42% share of total exports. Moreover, spectacle glass lenses exports to Denmark exceeded the volume sent to the second major destination, the United States (X units), fivefold. The third position in this ranking was held by Germany (X units), with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume to Denmark amounted to +198.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (0.0% per year) and Germany (-4.4% per year).

In value terms, Denmark ($X) remains the key foreign market for spectacle lenses of glass or other materials exports from Bangladesh, comprising 38% of total exports. The second position in the ranking was taken by the United States ($X), with a 9% share of total exports. It was followed by Germany, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value to Denmark amounted to +181.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (0.0% per year) and Germany (-3.9% per year).

Export Prices by Country

In 2022, the average spectacle glass lenses export price amounted to $X per unit, increasing by 4.6% against the previous year. In general, the export price, however, faced a abrupt setback. The pace of growth appeared the most rapid in 2017 when the average export price increased by 290%. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to Denmark ($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 Thailand (+3.2%), while the prices for the other major destinations experienced mixed trend patterns.

Spectacle Glass Lenses Imports

Imports into Bangladesh

In 2022, supplies from abroad of spectacle lenses of glass or other materials decreased by -12.5% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 116% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, spectacle glass lenses imports declined sharply to $X in 2022. Overall, imports recorded a abrupt decline. The pace of growth appeared the most rapid in 2021 when imports increased by 52% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main supplier of spectacle glass lenses to Bangladesh, accounting for a 99% share of total imports. It was followed by Malaysia (X units), with a 0.2% share of total imports. Hong Kong SAR (X units) ranked third in terms of total imports with less than 0.1% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-41.8% per year) and Hong Kong SAR (-45.1% per year).

In value terms, China ($X) constituted the largest supplier of spectacle lenses of glass or other materials to Bangladesh, comprising 94% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 1.1% share of total imports. It was followed by Malaysia, with a 1.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +26.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-33.0% per year) and Malaysia (-35.0% per year).

Import Prices by Country

The average spectacle glass lenses import price stood at $X per unit in 2022, declining by -5.4% against the previous year. Overall, the import price showed a deep slump. The growth pace was the most rapid in 2015 when the average import price increased by 136%. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+22.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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