Bangladesh: Woolen Yarn Market 2024

Woolen Yarn Market Size in Bangladesh

The Bangladeshi woolen yarn market rose rapidly to $X in 2021, with an increase of 15% 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). The market value increased at an average annual rate of +4.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Woolen yarn consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Woolen Yarn Exports

Exports from Bangladesh

In 2021, shipments abroad of yarn of wool decreased by -2.7% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 194%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, woolen yarn exports contracted sharply to $X in 2021. In general, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 224%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X tons) was the main destination for woolen yarn exports from Bangladesh, accounting for a 50% share of total exports. Moreover, woolen yarn exports to Turkey exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), twofold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 23% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey totaled +13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-6.6% per year) and the United Arab Emirates (-14.7% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for yarn of wool exports from Bangladesh, comprising 46% of total exports. The second position in the ranking was taken by Turkey ($X), with a 23% share of total exports. It was followed by China, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR stood at -1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-11.3% per year) and China (-10.9% per year).

Export Prices by Country

In 2021, the average woolen yarn export price amounted to $X per ton, with a decrease of -23.8% against the previous year. In general, the export price, however, showed a moderate expansion. The growth pace was the most rapid in 2014 when the average export price increased by 59%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+574.2%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Yarn Imports

Imports into Bangladesh

Woolen yarn imports into Bangladesh skyrocketed to X tons in 2021, rising by 16% against the year before. Overall, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.7% against 2019 indices. The growth pace was the most rapid in 2013 when imports increased by 53% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, woolen yarn imports expanded remarkably to $X in 2021. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 27%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest woolen yarn supplier to Bangladesh, with a 75% share of total imports. Moreover, woolen yarn imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), more than tenfold. Italy (X tons) ranked third in terms of total imports with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-11.2% per year) and Italy (+17.1% per year).

In value terms, China ($X) constituted the largest supplier of yarn of wool to Bangladesh, comprising 80% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 4.4% share of total imports. It was followed by Italy, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +16.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-11.4% per year) and Italy (+14.3% per year).

Import Prices by Country

The average woolen yarn import price stood at $X per ton in 2021, reducing by -2.3% against the previous year. Over the period under review, the import price showed a noticeable reduction. The pace of growth appeared the most rapid in 2017 when the average import price increased by 25%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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