Bangladesh: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Bangladesh

The Bangladeshi wooden bedroom furniture market stood at $X in 2022, approximately mirroring the previous year. Over the period under review, consumption, however, recorded a perceptible slump. Wooden bedroom furniture consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Wooden Bedroom Furniture Production in Bangladesh

In value terms, wooden bedroom furniture production dropped slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2019 with an increase of 27%. Wooden bedroom furniture production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Wooden Bedroom Furniture Exports

Exports from Bangladesh

In 2022, overseas shipments of wooden furniture of a kind used in the bedroom were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports showed buoyant growth. The pace of growth appeared the most rapid in 2014 with an increase of 499% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, wooden bedroom furniture exports surged to $X in 2022. In general, exports continue to indicate tangible growth. The most prominent rate of growth was recorded in 2014 when exports increased by 277%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

India (X units) was the main destination for wooden bedroom furniture exports from Bangladesh, accounting for a 46% share of total exports. Moreover, wooden bedroom furniture exports to India exceeded the volume sent to the second major destination, the United States (X units), twofold. The third position in this ranking was taken by the UK (X units), with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+31.4% per year) and the UK (+48.4% per year).

In value terms, India ($X), the United States ($X) and the UK ($X) appeared to be the largest markets for wooden bedroom furniture exported from Bangladesh worldwide, together comprising 61% of total exports.

The UK, with a CAGR of +45.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wooden bedroom furniture export price stood at $X per unit in 2022, growing by 15% against the previous year. Overall, the export price, however, showed a noticeable slump. The most prominent rate of growth was recorded in 2013 an increase of 49% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to India ($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 the UK (-1.7%), while the prices for the other major destinations experienced a decline.

Wooden Bedroom Furniture Imports

Imports into Bangladesh

In 2022, approx. X units of wooden furniture of a kind used in the bedroom were imported into Bangladesh; which is down by -29.1% against the year before. Over the period under review, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 424%. Over the period under review, imports attained the peak figure at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, wooden bedroom furniture imports reduced markedly to $X in 2022. Overall, imports, however, recorded prominent growth. The pace of growth was the most pronounced in 2014 with an increase of 431% against the previous year. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Saudi Arabia (X units) constituted the largest supplier of wooden bedroom furniture to Bangladesh, with a 46% share of total imports. Moreover, wooden bedroom furniture imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Sri Lanka (X units), threefold. The third position in this ranking was held by China (X units), with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia amounted to +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+87.2% per year) and China (-8.2% per year).

In value terms, China ($X) constituted the largest supplier of wooden furniture of a kind used in the bedroom to Bangladesh, comprising 43% of total imports. The second position in the ranking was held by Sri Lanka ($X), with a 15% share of total imports. It was followed by Saudi Arabia, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+99.2% per year) and Saudi Arabia (+1.7% per year).

Import Prices by Country

The average wooden bedroom furniture import price stood at $X per unit in 2022, almost unchanged from the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 17%. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 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 China ($X per unit), while the price for Saudi Arabia ($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 (+18.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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