Bangladesh: Electric Blanket Market 2024

Electric Blanket Market Size in Bangladesh

The Bangladeshi electric blanket market shrank to $X in 2021, with a decrease of -9.3% against the previous year. In general, the total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +1.5% against 2019 indices. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Electric Blanket Production in Bangladesh

In value terms, electric blanket production dropped modestly to $X in 2021 estimated in export price. In general, production saw a pronounced slump. The pace of growth appeared the most rapid in 2015 when the production volume increased by 38% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

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Electric Blanket Exports

Exports from Bangladesh

In 2021, overseas shipments of electric blankets decreased by -42.8% to X units, falling for the second consecutive year after four years of growth. In general, exports saw a deep contraction. The growth pace was the most rapid in 2019 when exports increased by 106% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, electric blanket exports soared to $X in 2021. Over the period under review, exports saw a deep downturn. The growth pace was the most rapid in 2013 with an increase of 64%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for electric blanket exports from Bangladesh, with a 77% share of total exports. Moreover, electric blanket exports to the United States exceeded the volume sent to the second major destination, Switzerland (X units), sixfold. Australia (X units) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to -5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (0.0% per year) and Australia (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for electric blankets exports from Bangladesh, comprising 75% of total exports. The second position in the ranking was taken by Switzerland ($X), with an 11% share of total exports. It was followed by Australia, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (0.0% per year) and Australia (0.0% per year).

Export Prices by Country

The average electric blanket export price stood at $X per unit in 2021, with an increase of 103% against the previous year. Over the period under review, the export price, however, recorded a slight shrinkage. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, 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 Canada ($X per unit), while the average price for exports to Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+5.7%).

Electric Blanket Imports

Imports into Bangladesh

After five years of growth, overseas purchases of electric blankets decreased by -32.7% to X units in 2021. In general, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 196%. Imports peaked at X units in 2020, and then dropped rapidly in the following year.

In value terms, electric blanket imports reduced dramatically to $X in 2021. Over the period under review, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 212% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Singapore (X units) was the main supplier of electric blanket to Bangladesh, with a 93% share of total imports. Moreover, electric blanket imports from Singapore exceeded the figures recorded by the second-largest supplier, India (X units), more than tenfold. Thailand (X units) ranked third in terms of total imports with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Singapore totaled +60.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+37.9% per year) and Thailand (+41.7% per year).

In value terms, Singapore ($X) constituted the largest supplier of electric blankets to Bangladesh, comprising 98% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 1.3% share of total imports. It was followed by India, with a 0.3% share.

From 2012 to 2021, the average annual growth rate of value from Singapore totaled +50.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-24.6% per year) and India (-8.2% per year).

Import Prices by Country

The average electric blanket import price stood at $X per unit in 2021, remaining stable against the previous year. Overall, the import price faced a abrupt contraction. The most prominent rate of growth was recorded in 2015 an increase of 177% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-6.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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